As I write about life insurance policies for low stage melanoma, I know you folks in the northeast are not thinking about skin cancer right now. You are likely focused on the never ending thunderstorms, flooding and Canadian wildfire smoke. My prayers go out to you. Here in the southwest we are heading deeper into drought and looking at the potential of another hot, dry summer. For us, the happening news is that underwriting for life insurance policies for low stage melanoma, seems to be improving daily. Exciting life here, huh? OK. OK. A bit of an exaggeration. We do have, uh, great sunsets.

More Fair Underwriting

I know I’m always coming across as this up beat guy who sees the life insurance industry becoming more fair by the moment. But this year we have seen HIV+ clients approved by more companies for traditional life insurance than ever. I won’t say that people are flocking to this forum, but those that get the word are telling their friends about the fact that real change is happening.

We continue to see progress and underwriting improvement in life insurance for those with well controlled depression and anxiety. We are consistently seeing preferred or better life insurance rates for people with even severe, but well controlled sleep apnea.

Life Insurance Policies for Low Stage Melanoma

Melanoma, a cancer that used to strike fear into life insurance underwriters because they never really had enough mortality data to understand that lower stages weren’t a harbinger of the client’s life to come, but caught early and with reasonable followup, were receiving amazing offers. Life insurance underwriting for Stage 0, melanoma insitu has reached a point where, in some cases, life insurance can be underwritten and approved shortly after the excision is done and healed and the margins declared clear.

I’m not here to declare that melanoma isn’t the horrible killer it can be, but in lower stages of 0 and 1, it is treated far differently today than it was 20 years ago or even 10 years ago in life insurance underwriting. Why? Because people are more cautious about things that look out of place, and doctors are smarter about recommending examinations and when people have a scare. Whether it is basal cell carcinoma, squamous cell carcinoma or melanoma, they become absolutely regimental about being checked regularly and recommending that their family and friends do the same.

The Bottom Line

I am proud of the underwriting side of our life insurance industry. It gags me sometimes all of the self serving products the companies create and it bothers me daily that companies will attract people to work as agents and then not give them the tools to understand and do it correctly.

I can’t do much to change those things but I can make sure that I help as many clients as I can in my lifetime to turn life insurance declines into approvals, turn bad life insurance experiences into good ones, and help families who don’t have an easy route to affordable life insurance, find it. If you have any questions or would like to understand how your life insurance situation can be seen through the lens of fair underwriting, call or email me directly.

My name is Ed Hinerman. Let’s talk. Hey. I really answer the phone.

The post Life Insurance Policies for Low Stage Melanoma: Advancements in Fair Underwriting appeared first on Hinerman Group.

What’s The Fuss Over Gestational Diabetes?

Gestational diabetes has become a significant concern in the realm of life insurance underwriting due to its potential long-term effects on women. Studies have shown that women who experience gestational diabetes during pregnancy have an increased risk of developing type 2 diabetes within 5 to 10 years after giving birth. While there is ongoing debate among researchers and insurance underwriters regarding the causal relationship between gestational diabetes and type 2 diabetes, it is clear that gestational diabetes is just one of several risk factors contributing to the development of type 2 diabetes. Lifestyle choices may play a more significant role than the mere presence of gestational diabetes.

The Changing Landscape

A few decades ago, the impact of gestational diabetes on life insurance applications was relatively straightforward. For instance, if a 35-year-old woman had a history of gestational diabetes that resolved after delivery, most insurance companies would offer her a standard rate due to the aforementioned risk. Her monthly premium for a $500,000, 30-year term policy would have been around $55. However, there were a few companies that deemed the risk insignificant and would approve her at their best rate, resulting in a monthly premium of less than $30.

It’s worth noting that a family history of diabetes is a significant risk factor in the progression from gestational to type 2 diabetes. In the aforementioned rate scenarios, her family history would likely place her in the standard rate category. However, it is important to recognize that family history serves as a red flag, prompting individuals to adopt an anti-diabetes lifestyle. Many individuals who have parents with health issues related to smoking tend to avoid smoking themselves, while those with parents who have experienced obesity-related health problems often make efforts to reduce obesity in their own lives.

The Present Reality

Today, the assessment of risks associated with gestational diabetes has undergone significant changes. After reviewing a list of 25 insurance companies known for their expertise in evaluating such risks, it is evident that the landscape has dramatically shifted. While two of the companies still offer the best rate class, many others provide rates that are worse than the worst-case scenario a decade ago. Some companies even delay consideration for coverage for up to five years post-childbirth, while others require women to reach menopause or the obvious non-child-bearing years before considering coverage. This shift indicates a growing belief among insurers that gestational diabetes poses a significant danger to mothers.

However, it is important to note that there is currently no medical evidence to support this perspective. Therefore, now more than ever, it is crucial to choose the right agent who can guide you to the appropriate life insurance company. Selecting the wrong agent and company can lead to unfavorable outcomes.

Bottom Line

Throughout my 24+ years in the life insurance industry, few health issues have taken such an incorrect and regressive turn from a scientific standpoint. As an independent agent, I have the advantage of reviewing over 30 companies to find the most suitable and affordable life insurance options for you. The Hinerman Group specializes in providing quality life insurance solutions for individuals with type 1 and type 2 diabetes as well. If you have any questions or have received exorbitant quotes or approvals for life insurance after experiencing gestational diabetes, please reach out to me directly. My name is Ed Hinerman, and I am here to help you find the best solution. Let’s have a conversation.

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Does Your Life Insurance Agent Really Understand Private Aviation?

Probably not! It would be simple if somehow you could get rid of all of the life insurance agents who claim to know what they’re doing with private pilots, but don’t really. Life insurance is one of those occupations that I’m finding has employed nearly everyone at some point, but very few careers are made here. New life insurance agents are desperate for sales and will often just flail away at any case that comes their way. That’s a problem. If they don’t know aviation and which companies love you and which don’t, there’s a good chance they’ll be wasting your time.

I talk to pilots all the time who really believe that because they’ve chosen to fly, they’ve cooked their own goose when it comes to finding affordable life insurance. From student pilots to private pilots with VFR or, IFR ratings, commercial pilots and even instructors, if they run into an agent that really doesn’t know aviation, well, get out the airsick bag!!

Just about every serious private pilot is qualified for preferred or preferred plus rates from highly rated life insurance companies. Even curve balls like pilots over age 70 are underwritten based on their experience and proficiency. Most agents would tell a 72 year old pilot to just take an aviation exclusion because no one is going to insure them for private aviation at that age. Wrong!

Types Of Life Insurance

Once you’ve found a life insurance agent that can get you good rates as a pilot, like everyone else, you need to decide what life insurance product fits you best.

1. Term life insurance is the most common and most affordable. The term refers to the number of years that your policy has a level death benefit and premium. Terms of 30 years or longer are common.
2. Whole life insurance refers to a policy that has a level death benefit and price for life. It can also build cash value, but buyer beware. The price is huge compared to term and if you tap the cash value you can ruin the policy.
3. Universal life touts itself as a flexible premium permanent life insurance policy. Again, buyer beware. That flexibility can get you in trouble and being permanent isn’t always guaranteed.

The Great Things About Pilots

What most agents don’t get, along with everything else about aviation, is that pilots are great business. They are far healthier than the average population because, unlike the rest of us, they have to get regular flight physicals. Not having to work through the gauntlet of health issues and impaired risk underwriting makes pilots really fun to work with. But most life insurance agents don’t last long enough in the business to learn how to best serve private pilots. That’s why far too many pilots are paying far more than they need to.

Bottom line. There are fair prices out there for every pilot. The more experience and proficiency you bring to the table, the better the rates get. If you think you’ve been misled on life insurance for pilots, call or email me directly. My name is Ed Hinerman. Let’s talk

The post The Perfect Pilot Life Insurance? appeared first on Hinerman Group.

My client and his friend, who are both in good health, fly helicopters ferrying passengers and freight to offshore rigs in the Gulf of Mexico. Most of their aviation activities are scheduled and they avoid messy weather, but they do occasionally have to make emergency runs, which were not listed as general aviation exclusions

Pilot Life Insurance – Is AOPA Saving You Money?

So, I went to the AOPA website to see what the scoop was on their aviation coverage and here is what I found.

AOPA group life insurance and term life insurance are not created equal

Upon my review, I discovered that part of the problem was there was not an apples to apples comparison going on between the insurance coverage I had quoted and what was offered through their association.

• My client and his friend both wanted $750k of term pilot life insurance, which is what I had quoted.
• AOPA insurance policy offers a group level 10 or 20 year term product but with a maximum insurance coverage of $499k.
• AOPA has another product that offers $500k but in the product description mentions that you can get up to $1 million at group rates. If not read carefully, and in my case confirmed with a phone call to AOPA, you might miss that the $1 million is $500k for you and $500k for your spouse.

If you are like me, and misread this part of the program, there is nothing to stop you from running group term life insurance quotes for $750k since they just give you a factor for your age to compute your monthly payments.

That isn’t done on their website but on your own calculator, so you can run a quote for more than the program allows, which creates a false quote.

Compare Apples to Apples to See if You Are Saving

AOPA

My client is 52 and I ran pilot life insurance quotes using the factors for the level term products for the maximum of $499k.

At his age, $499k of 10 year group term would be $120 a month, and a 20-year term would be $190 a month.

Hinerman Group

I ran an apples to apples comparison of personal insurance with my best company and I could get the same policies for $99.88 and $174.52 a month respectively.

1. $99.88 with Hinerman Group vs. $120 with AOPA
2. $174.52 with Hinerman Group vs. $190 with AOPA

That’s several hundred dollars a year in savings, with a policy savings of over $2400 and $3700 over the entire term of the life insurance policy. There doesn’t seem to be a reason to over spend on something that isn’t going to impact the payout for your loved ones and beneficiaries.

I will be the first to admit that the AOPA prices aren’t horrible given my client’s aviation activities, but they certainly aren’t as good as it gets. That’s a small victory for helicopter pilots flying offshore, but the real issue that AOPA is hiding in these group rates is what they offer for plain old private pilots.

Underwriting Differences.

1. AOPA doesn’t make any underwriting distinction between different aviation activities.
2. AOPA would be at the same prices I quoted above ($120 and $190 a month) for an IFR pilot flying 50 hours a year or a CFI or CFII flight instructor.
3. My best company would be at $52 for $499k for 10 years and $75.24 for $499k for 20 years. This means that AOPA is ripping off the majority of private pilots when it comes to pilot life insurance.

The Bottom Line

I’ve been serving the life insurance needs of every genre of pilot out there, from student pilots to flight instructors, to private pilots, to commercial airline pilots for the last 18 years and have never lost a case to AOPA.

I’ve ranted for the last 18 years about several large advocacy groups who aren’t doing their members any favors with their life insurance offerings and AOPA is to pilots what AARP is to older folks.

They aren’t your friend and they certainly aren’t earning your life insurance business.

If you have questions or have life insurance through AOPA and would like to know how much better you can do, call or email me directly. My name is Ed Hinerman and would love to speak with you.

The post AOPA Private Pilot Life Insurance Review: Worth it or Rip Off? appeared first on Hinerman Group.

It Keeps Getting Better!

Life insurance for adults with type 1 diabetes has continued to improve since I last updated this post in 2019. Testing, monitoring and insulin administration has been improving as fast as any technology and these advancements have the attention of more life insurance companies than ever. All of the improvements lend themselves to consistent control and that keeps the health issues that can accompany type 1 diabetes at bay. Less risk of collateral health issues equals better prices.

Life Insurance Approvals for Type 1 Diabetes: The Past

In the past I wrote about how there seemed to be a roadblock for life insurance approvals for adults with juvenile onset diabetes in two areas. The first was that virtually all companies didn’t want to consider anyone that was diagnosed prior to age 5. The other was current age needed to be 30 or over. This became bold letter print clear when I was working with a client who was a poster child (adult) for type 1 diabetes. They were healthy in all aspects including the daily maintenance of their diabetes. They were compliant with treatment since diagnosis (of course thanks to their parents in the early years). With A1c’s that ran between 6.5 and 6.8 and absolutely no collateral health issues, I was dismayed when I couldn’t find any companies that would quote because her age of onset was 4.

This made no sense to me since the same client with a diagnosis on their 5th birthday would have had several good offers. I went a little crazy over the lack of logic to that line in the sand and finally got an underwriter who said she would make an exception as long as everything else proved out as I had presented it. It did and she was approved for life insurance, but the underwriter made it clear that it was an exception, as in DON’T ASK ME AGAIN, at least for a while.

Life Insurance Approvals for Type 1 Diabetes: The Present

What was an exception is now accepted underwriting. I recently shopped a life insurance case of juvenile onset adult diabetes where onset was age 3. I knew there was movement in the right direction so I went out for quotes cautiously skeptical, but was wonderfully surprised when five companies came back with offers, all of them very fair rates. I also now have companies who have backed off of the under age 30 roadblock, so really, except for juvenile onset juveniles, we’ve made huge life insurance progress in just about every area of type 1 diabetes.

The Bottom Line

It’s always exciting to see the progress of life insurance underwriting catch up with treatment advances. This allows us to be able to help clients get life insurance approvals for Type 1 Diabetes. Not unlike finally getting life insurance approvals for prostate cancer survivors on watchful waiting, it all has to do with advances in earlier detection, better monitoring methods and better treatment and control..

If you have any questions or would like to find out what is available for your specific situation, please call or email me directly. My name is Ed Hinerman. Let’s talk.

The post Type 1 Diabetes Can Receive Fair Life Insurance Approvals! appeared first on Hinerman Group.

I met a young man the other day. He’s 16 and is pursuing a dream with a focus I’ve rarely seen in someone that age. He’s six months in to getting his private pilot license through classes at his school. He also attends leadership training camps around the country that are flying focused. His goal? He wants to be a military pilot and eventually an airline pilot. I was so impressed with the planning he and his parents had put in place for him to achieve his goal, his dream.

While not everyone has that kind of singular focus, all of us have an idea of what we want our futures to look like. Some things might be silly and inexpensive like sky diving on our 50th birthday. Some are more serious like pursuing a college degree once our kids are grown, or grown enough that we have time to chase our dream. We might want to move closer to family and with the price of real estate now, that’s a big ticket item.

Of Course We Want Dreams To Come True

Most dreams come with a price, and, unless we’re just mean, we want our loved ones to have that opportunity. In the case of the 16 year old I talked about above, it takes both parent’s incomes to keep that dream alive. In his case he works also and adds his income into paying for flight lessons and camps. It doesn’t take the entire family income, of course, but if one of parents isn’t in the picture, things get tough and something has to be put on hold.

Yes, I’m going to bring it up and ask again. Don’t you have a friend or family member that has died prematurely? It can be an accident or cancer, or it could be something out of the blue like the blasted Covid pandemic, but people we know or hear about die way before they should have. Of course that will never happen to use, right? That’s the exact same thing those people who died way too soon believed. Don’t you think, if they could, they would go back and buy the life insurance they blew off when they were alive and healthy?

Bottom Line!

All of us who are married occasionally bring up that we want to grow old together, but it just isn’t guaranteed. The question comes down to, if something does happen, do we really want our spouse to grow old struggling to make ends meet? Or do we want them to have dreams come true? Life insurance isn’t complicated and it isn’t expensive. My name is Ed Hinerman. Let’s talk! Don’t want to talk? Life insurance can be done quickly and electronically. Just get it done and protect your family’s future.

The post Would You Intentionally Stop Someone From Pursuing Their Dream? appeared first on Hinerman Group.

If you haven’t experienced the premature death of a friend or family member, it’s coming. How about a friend of a friend or someone you hear or read about on social media? Do you ever stick with the story long enough to know how those who were left behind pick up the pieces of their shattered life? That’s right, shattered!

I’ve been beating this drum for the last 25 years, but really drop yourself in this scenario and think about what shattered looks like. You’re married and have children. If both of you work, you probably need both incomes. Hey, today there are a lot of two income families that are barely keeping their boat floating. If one of you works, there’s no question your family needs that income. So think. If something happens to you what is shattered going to look like? Take some time with that question and, please, get real. Don’t even consider GoFundMe as the answer. This is real life and this is about your real spouse and your real children carrying on without you.

Is Life Insurance A Viable Answer?

The most common reason for families not having life insurance is that it isn’t free. If someone could protect your family with $500,000 of life insurance, a tax free gift to those left behind, for free, wouldn’t you sign up? The problem is that it isn’t free. When it comes with a price tag of $30 or $40 a month, then it’s competing with other expenses, like internet service, satellite TV, eating out, beer, groceries, gym memberships, morning latte, well, then it’s messing with your life, your plan. The most common reason families don’t have life insurance protection for their family is that it messes with their plan.

Bottom Line!

Who am I to ask you to analyze your plan and find the room to protect your family from a potentially shattered future? I’m a guy who has helped put $millions in the hands of families. I can’t replace their loss, or yours, but I can help create hope of a financially secure future. It’s your decision if it’s worth it or not. My name is Ed Hinerman. Let’s talk.

The post Life Insurance. Worth It Or Not? appeared first on Hinerman Group.

We live in a country that was anxious, arguably for good reasons, even before the coronavirus pandemic. In a lot of cases anxiety can lead to depression and the severity of the depression is what life insurance companies look at. Lumped together, anxiety, minor depressive disorder and major depressive disorder affects nearly a quarter of the adults in the country. About half of those are medically treated for their challenge.

Life insurance companies take these five areas into consideration when underwriting depression:

1. Have you ever been hospitalized for depression?
2. Have you attempted suicide or had suicidal thoughts?
3. Have you been unable to work due to depression? Are you on disability for depression?
4. What medication(s) are you on?
5. Do you have a stable and productive family and work life?

Depression is not a deal killer when it comes to reasonable rates for life insurance. If you’ve been treated in the past but have reached a point where you no longer need treatment, the best life insurance rates could be available to you. If you are currently treated for mild depression on one medication you can get better than standard rates.

It really all comes down to how well you’re functioning and how compliant you are with your treatment. Hinerman Group has a wealth of experience with life insurance and mental health, including mood disorder underwriting and finding the companies that offer the best approvals. Give us a call.

Want more information on depression life insurance? We’re here to answer your questions and to help you find the best possible price on the life insurance you need. Call or email me directly. My name is Ed Hinerman and I really answer the phone. Let’s talk.

The post Life Insurance With A Diagnosis Of Depression appeared first on Hinerman Group.

Level Term vs. Whole Life Insurance

Whole life insurance is the most common form of permanent life insurance. The primary differences between term and whole life policies include the following:

• As long as you pay your premiums, whole life policies never expire
• Whole life policies come with a cash value component that earns interest
• Term life insurance only covers you for a certain number of years, while whole life provides lifelong protection
• Whole life premiums can cost five to 15 times more than term life insurance policies with the same death benefit

Whole life insurance also offers a level premium and death benefit. If you accumulate enough cash value, you can often use it to purchase additional coverage. However, whole life is more costly than level term insurance, and many people might not need permanent coverage or extra features.

What is the Death Benefit?

The death benefit is the maximum amount that the insurance company will pay out when you die. The higher your age, and the greater the amount of coverage you have, the higher the death benefit will be. You can choose how much of your premium you want to allocate towards the death benefit.
What is the Premium for Level Term Life Insurance?
For most people, level term life insurance is one of the most cost-effective options. Your premiums are mainly determined by your age, health, medical history, and other factors, like your hobbies and driving record.

What Happens When a Level Term Life Insurance Policy Expires?

Your coverage will stop when the term of your insurance expires. You have a couple of options after that:

• Go without life insurance. This is only something you should do if you can self-insure and have no dependents or outstanding debts.
• Purchase a new level term policy. You’ll have to take the medical exam again, so while your premiums will be level, they may be more expensive than the premiums of the expired policy.
• Convert your term policy into a permanent policy. This is a common aspect of term policies. While a permanent policy will last your entire life, it’s typically more expensive than a term policy.

What to Expect When You Apply for Term Life Insurance

When you find a quote that you like and are ready to purchase a policy, you’ll start by filling out an application. Your life insurance agent will likely review your application answers and you may be asked to sign releases, such as one for your medical records.
Once the application is submitted to the insurance company, you may be asked to do a life insurance medical exam. The exam often includes height, weight, blood pressure, blood and urine samples, and questions about your health to verify that information on the application is correct.

Bottom Line

You don’t have to use an experienced level term life insurance agent, but using the best in the business will save you both time and money. If you have questions or want to talk about your life insurance needs, call or email me directly. My name is Ed Hinerman. Let’s talk.

The post What is Level Term Life Insurance? appeared first on Hinerman Group.

Business Life Insurance Proving Hard To Get? Let’s Change That

Just because someone is the CEO of a large company, or owner of a smaller company, doesn’t make them immune from the same challenges that you or I run into when trying to purchase life insurance. Those in need of business life insurance cover the full spectrum of impairments – from being overweight or having diabetes to having a history of drug or alcohol treatment or HIV. The thing that often sets those in business apart from applying for personal life insurance is that there is often someone, a bank, investor, board of directors, or partner, who is requiring that the coverage is in place.

We Really Can Change That

At Hinerman Group, we have positioned ourselves to be the go-to agents for both business and impaired risk life insurance, with 21 years of learning and experience. We make it our business to treat each new impairment we run into as a learning experience. We listen to our clients and hear how their situations impact their lives. We study all we can from reputable online medical experts, and we have several medical profession clients that help when they can. This helps us know what questions to ask and what information we should ask clients to provide (labs, pathology reports, etc.) And we know the life insurance underwriters that we will be working with, so we can discuss how to put together even the most challenging cases to get approval.

In those rare cases where we can’t get an offer from the 20+ business and impaired risk life insurance companies for your need, or when you have run out of time and need coverage sooner than later, we will have a backup plan. We use Lloyds of London as a bridge policy, for lack of a better explanation, in cases where traditional life insurance companies don’t have time to underwrite your case or your situation isn’t one that traditional underwriters will approve right now. There are also times where you simply can’t qualify for traditional life insurance during, for instance, the life of a 7 or 10-year loan that requires that policy. As an example, let’s say you just completed inpatient alcohol treatment 9 months ago. There isn’t a traditional life insurance company, like Prudential or Lincoln Financial, that will touch an approval, in a best-case scenario, for two years post-treatment.

There are plenty of CEOs and business owners who are HIV positive and would prefer to avoid traditional underwriting. This is because their admission of that fact goes into MIB or has to be admitted to an examiner they don’t know. We can put a Lloyds policy in force to meet your business needs and give you time to wait out the traditional underwriting – or avoid it altogether. For those of you who are simply caught with your pants down needing business life insurance in a short period of time, Lloyds can meet that challenge for you as well. They are fast and the pricing is fair. They didn’t get to be one of the largest business life insurance companies in the world by dragging their feet.

Bottom Line

You don’t have to use an experienced and successful business and/or impaired risk life insurance agent, but using the best in the business is going to save you both time and money. We will save you time because we know how to get the job done quickly and efficiently. We will save you money because we can shop your case and get the lowest cost per thousand available, guaranteed. If you have questions or want to talk about your business life insurance challenge, call or email me directly. My name is Ed Hinerman. Let’s talk.

The post When Business Life Insurance Is Hard To Get! appeared first on Hinerman Group.