Male, age 35, Recent major speeding violation (40 miles over limit), seeking $3.5 Million Term of term life insurance with an annual premium lower than $1500.00.
What were the challenges?
A few carriers declined to offer altogether, with others offering $3.5/100 flat extra.
What was the First American solution?
We nudged a little harder to ensure carriers that this was a rare occurrence and pushed to get them to waive the $3.50/1,000 flat extra to make the competitive difference.
What was the outcome?
Credits given to reduce rating from Table 2 to Standard. Secured $3.5 million term policy at Preferred Best Nonsmoker at $1,218 annual.