Can You Get A Sweet Deal For Challenging Cases?

Diabetes, there’s no way to candy-coat it – this all too common yet serious disease can present some challenges in life underwriting.

An estimated 1.7 million Americans are diagnosed with diabetes each year.  Complications can include heart attack, stroke, cardiovascular and kidney diseases.

The good news is diabetes can be well managed with proper diet, exercise and medication and in turn helps to reduce the chances of developing complications.

There are several factors that underwriters look at when reviewing diabetes cases

These include the type of diabetes (Type 1 or Type 2), the current age of the client, age at time of diagnosis, A1c levels (average blood sugar), treatment and any diabetic complications.  Type 2 diabetes is the more common form in which the body is resistant to insulin.  Ratings are generally more favorable for Type 2 than they are for Type 1.

Some top carriers have programs that could be the icing on the cake to getting the best possible offers for your diabetic clients.

Take a look at these examples:
  • Type 2 Diabetes: 75 year old male non smoker, diagnosed with 10 years ago, A1c levels have averaged 7.0 or better, 5’10 207 lbs, blood pressure is 143/90 and cholesterol is 270 with a cholesterol ratio of 6.0 – PREFERRED rating!
  • Type 2 Diabetes: Age 50 and older with excellent diabetic control, treated with diet and oral medication only, no complications – STANDARD PLUS is possible!
  • Type 1 Diabetes: Over age 50 with excellent control and no complications – TABLE B is possible!

Our Underwriting Team is ready to help get you the sweet deals you need in order to get your impaired risk cases placed – contact us today.

Protecting Those Who Care For Others

Women often try to find the right balance between juggling careers, spending time with family, and caring for loved ones.

With women living longer, and providing more caregiver services, they become more vulnerable to long-term care issues.

Now is the perfect time to increase your focus on existing and potential female prospects to expand your LTC Insurance business.

How You Can Help:

Women may spend their entire lives taking care of other people.  You can help them create strategies to plan for their future and help protect their retirement assets.  An LTC Insurance policy can help protect their assets and help them maintain independence in the future.

To increase your reach and help your female clients take the first step to long-term care planning, consider these scenarios:

  • Married Couples:  Husbands often need care first, leaving less assets for the wife to use for her own care.  Review your clients’ long-term goals to ensure both parties have a care plan for the future.
  • Same-Sex Couples:  Current financial planning rules can make it tricky to access a partner’s assets when care is needed.  Help your clients design a plan to share each other’s benefit dollars.
  • Widowed/Divorced:  When a woman becomes divorced or widowed and has no children, there may be no one to take care of her.  Almost 70% of women age 75 or older are widowed, divorced, or never married, compared to only about 30% of men.  Explain to your female prospects the value of Long-Term Care planning and how a policy can help them protect their future.
  • Adult Children of Aging Parents:  In helping adult children with their own LTC planning, they can purchase coverage and have access to our Caregiver Support Services Benefit, which is a great source for advice and helpful information should a long-term care event arise for an uninsured family member, especially Mom.
Reasons to Plan:
  • 60% of LTC Insurance policies are issued to women, indicating that women are acknowledging the need for care.
  • 80.6 years is the current life expectancy for women.  The current life expectancy is 75.2 years for men.
  • Over 1 million women are in nursing homes; versus only 400,000 men.
Expand Your Target Market

Look for local women’s organizations in your area and consider hosting an LTC planning seminar to educate women on the risk of not having a plan and the comfort of having one.

Contact Us

Our expert team can offer advice on discussing Long-Term Care with women and how to approach their concerns. Contact us today to learn more.

A DI Scenario To Share With Your Clients

Let’s suppose you are the primary provider for your family, which depends completely on your income to support all of its household needs.

Consider this:

Recently, you’ve been hunting for a better job and now there are two offers on the table:

  • Your first offer comes from an employer who will pay you $100,000 a year, but you must personally assume the risk associated with suffering a disabling injury or illness.  If, at age 35, you get sick or hurt, your lost earnings could amount to as much as $5.2 million dollars assuming only 3% annual increases over your working career.
  • The second offer comes from a different company that will pay you $98,000 a year salary and provide a guaranteed income benefit of $65,000 annually in the event you suffer a long-term injury or illness that prevents you from working.  If you become disabled at age 35 and are unable to return to work, those benefits could equal as much as $2.2 million.

The Council for Disability Awareness statistics show 1 in 4 of today’s 22 year-olds will become disabled before they retire and that the average long term disability work absence is 2 ½ years.

Now you are aware of the disability statistics, I am certain you recognize the value the second employer’s offer, and would accept, and are glad to have the choice to have the protection for you and your family.

Our job as advisors:
  • Help educate our customers about the risks associated with being sick or hurt and unable to go to work.
  • Give our customers a chance to vote on whether they would like to hand off that risk to an insurance company.

Over 100 million working Americans don’t have private disability coverage and I suspect most of them have never been given a chance to vote.  Help your clients make the right decision.

Contact your Disability Income Insurance Specialist today for more information on these types of Disability Income Insurance scenarios and more.

Making Heads Or Tails Of Executive Benefits

A simple coin toss is the most popular form of settling disputes or making decisions.  Subterfuge is often used to improve a participant’s odds.  If the caller sees through the “heads-I-win/tails-you-lose” ploy then the flipper can introduce a GMO known as a two-headed coin, usually a Washington quarter, available for a few bucks at any novelty store.

All this to illustrate that, for all the similarity of circumstances that the obverse and the reverse have on the dime, they can dictate significantly diverse patterns of events.  We use the phrase two sides of the same coin to describe the different, but closely related features, of an idea or course of action.  And so it is with certain non-qualified executive benefits.

All employers want economical ways to keep their key people.  You make your coin by helping them decide which side of the opportunities available best meet their needs and goals.

An Executive Bonus plan (EB) is the most common selective benefit format in the business marketplace, and a Death-Benefit-Only Plan (DBO) is the most overlooked.  Both have as their primary purpose to keep a key person with the company by providing life insurance protection.

Their primary difference is the amount of control the employer has – should the executive choose to leave.  Both are easy to explain, implement and administer.

With an EB plan, simply put, the employer pays for the executive’s personal insurance coverage.  In a DBO plan the employer promises to pay a benefit to a named beneficiary if the executive dies while employed, then buys a company-owned policy to fund against the contingency.  In either case the vehicle can be a permanent or term product.

Often with a DBO the employer chooses to roll the policy out to the executive at the time of retirement.  Even with term coverage the conversion privileges can make the transfer attractive if the executive has had health issues.

Consider the different sides of this coin:


Executive Bonus

Death Benefit Only

Policy Owner Executive Employer
Premiums Paid By Employer Employer
Taxation of Premiums Deductible to EmployerTaxable to Executive Not Deductible to EmployerNot Recognizable to Executive
Taxation of Death Benefit During Employment Tax-free to Executive’s BeneficiaryEmployer Not Involved Tax-free to EmployerDeductible When Paid to BeneficiaryTaxable to Beneficiary
Death Benefit After Employment Same – Executive Owns the Policy No Benefit to BeneficiaryEmployer Still Owns the Policy

Call to talk about executive benefits in particular and business planning issues in general that you should be discussing with every business client and prospect you have.

Executive Benefit Opportunities:

For what it’s worth – the simplest of all Super Bowl wagers made by bettors is on the outcome of the opening coin toss.  Those who prefer the NFC did well around and after the turn of the century.  The senior conference won the toss from 1999-2012 defying the odds (going in) of 16,384:1.

Up to $3,000,000 Non-Med 10-15-20-30 Year Term & Permanent Life Insurance

Principal National Life Insurance Company has announced a significant expansion of their Accelerated Underwriting limits which makes it easy and more efficient to sell Principal Life Insurance products.

What are the benefits of Accelerated Underwriting?
  • More satisfied clients who get the coverage they need, without the inconvenience of labs or exams
  • Smarter process that leverages digital health data (DHD) whenever possible
  • Easier access with no separate AU checklists to complete or requests to submit
What are the eligibility guidelines?

Call your Life Sales Marketing Manager to learn more about this exciting new program.