This is definitely our coronary artery disease case of the month, and it may even be the case of the year as far as how much money we saved this gentleman…
This 69 year old gentleman who had 2 stents and a heart attack a year and a half ago applied for a $350,000- 15 year term life insurance policy (through another agent). He qualified for a monthly rate of $1,392.
This rate was much higher than he was expecting, but his agent told him this was the best rate he was going to get.
He found our website, and based on the information he provided, including his heart attack with 2 stents and a good stress test within past 12 months (which always helps on CAD cases), we were confident we could get him a much better offer than $1,392 per month.
We quoted him some conservative possible offers that we thought we could get him from other insurance companies, which were $350,000- 15 year term rates of $639 to $851 per month as a range of the cost, along with some longer duration rates, and he decided to re-apply.
We Make The Application Process Simple
He just had an insurance exam in the past couple of months for this other insurance company, so we were able to use that exam and lab results for the new company.
Now he would not have the hassle of needing to be examined again.
Because we thought we could get him a guaranteed universal life policy to his age 90 that would still cost less than the 15 year term rate for which he already qualified of $1,392 per month, we had him apply for a new 15 year term and a GUL to age 90 rate.
We always prefer to get all of the best offers and then have our clients decide what plan and amount of insurance they’d like to purchase after they know the “real” cost.
Please keep in mind that it costs nothing to apply for ANY insurance policy, so there is no downside in applying to more than one company or more than one specific product.
Medical Records Reveal the Real Issues
Like many people, this gentleman did not know specifics about his CAD, like what vessels his stents were placed in or the percentage of blockage in these vessels, but that’s okay because we obtain all medical records to find out the specifics.
We obtain the medical records for 2 reasons:
- So we know the exact issues and can better negotiate for lower rate with the underwriters based on the exact issues.
- So we can easily “shop” with other insurance companies if the initial offers are not as good as expected.
We never want some random insurance underwriter telling us worthless information like “the offer is higher due to his 2 vessel coronary artery disease,” but these are the kind of generic responses we get all the time.
We’ve learned throughout the years that ALL offers are negotiable as long as we know the specific issues and pressure every underwriter for the best offer possible.
By the number of clients we gained that were unhappy with the offers that other agents or websites were able to get them, we’re convinced that there are no other agents or websites that are really “shopping cases” and negotiating offers the way we do.
Heart Attack, 2 Stents and a Cardiac Arrest
While we knew about the heart attack and 2 stents placed for this 69 year old gentleman, his medical records also showed that while in hospital after heart attack and 2 stents, “EKG in hospital witnessed cardiac arrest which converted with 1 DC cardioversion shock.”
Having a cardiac arrest is another issue altogether.
Assuming his treating doctor mentioned the cardiac arrest to him, this is not something that many people may even remember, but it adds concern for life insurance underwriting purposes.
The GUL to age 90 company postponed him due to the cardiac arrest as they will not insure anyone for 2 full years after a cardiac arrest.
The term insurance company made a $350,000- 15 year term offer with monthly cost of $933.
This is much better than his original offer of $1,392 per month from the other agent, but not as good as our original quotes, which really frustrates us, even though we didn’t know ALL cardiac details initially.
We went back to this underwriter (who is awesome), emphasized to her how the cardiac arrest was likely a fluke and how this gentleman had a good recent stress test, and we pleaded for her to bump this gentleman up to a better rate class, which she did!
She re-approved him for $350,000- 15 year term rate of $817 per month, which was within the “range of cost” rates we originally quoted him, and we and our client were much happier.
Can you really negotiate life insurance prices?
Your agent can always try to negotiate to get you the best offer on your life insurance, and we do this every single day.
Most insurance agents will never negotiate, and their employer may not even allow them to negotiate for better offer since the less you pay, the less they’ll make.
It’s human nature to want to make the most money possible, and almost everybody has this in common.
We also want to make the most money possible, but we just choose to do it by doing the absolute best job for everyone that gives us the opportunity.
This means doing everything we can to get you the best offer possible!
Many times this means having you apply to more than one company and leveraging one offer against the other.
Insurance companies don’t like this tactic, but they’re not our clients.
Our allegiance is to you, the consumer, and only you!
How much can you save after heart attack & stents?
We saved this gentleman $575 per month, $6,900 per year, or $103,500 over 15 years!
Quite the savings and a FAR cry from this gentleman’s original agent telling him that a rate of $1,392 was the best he was going to get.
We shop tough life insurance cases every day, and we can save almost everyone money on their insurance.
We’ve saved consumers millions of dollars on their life insurance since 1969.
Let us know if you’d like to find out how much money we can save you…
Call us at 1-800-380-3533 or click here to email us to get an accurate quote.
Since 1992, Gordon E. Conwell, III (G3) has helped thousands of ”higher risk” individuals get the best life insurance rate/value. Being a high risk himself, he knows the struggles you’ll face trying to get affordable life insurance. His unique shopping process and underwriting knowledge will result in the best offers, every time!