David, can I do tax-exempt retirement strategies... even if I'm uninsurable?


This is a question I often get from people who have worked with agents in the past, talked to them about their medical history, and accepted what they said as "gospel fact". First, are we sure we're uninsurable? I use a service called "Virtual Underwriter" that helps me ascertain risks based on additional questions. Granted, this is not a medical exam, but it should give me additional insight into your medical history. (Remember, never lie to the insurance company because if death were to occur, the claim may be completely denied.) Second, I consult multiple company's medical underwriting guides to get a "pulse" on how it could be underwritten. (Pun fully intended!) So just because you may have been declined for insurance coverage in the past, does NOT mean you are forever uninsurable! Depending on how healthy you are (and the medical records substantiating that), we can still get a favorable offer! Third, standard is standard for a reason. I don't know why an agent would ever try to quote "preferred", "ultra", "supreme", or anything other than standard. It sets up the underwriting for a "bait and switch". Now, I may quote above standard IF there's nothing else that should be showing up and your height and weight warrant it. I'd also say, "As long as you look as good on the inside as you do on the outside, you may qualify for preferred. If that's the case, this is what it can look like."