OK, here is your quick lesson that Chat GPT won’t tell you about Life Insurance.
I had a client Message me the other day saying that they they, “wanted Guaranteed Issue Life Insurance” because they are not going to get conventional life insurance. They they included a screenshot with some telltale signs they were reading from a script that AI had produced for them.
AI was queuing up on a marketing terms and not providing the necessary details that had limitations and how a policy worked. We are still in the early stages of AI. It can provide you great driving directions to get to the baseball field but it won’t play the game for you. That is where an agent comes into play to provide the coaching necessary for a good selection.
What the client’s AI was failing to mention was they will still reference your medical records and do a questionnaires for policies that don’t have a physical examination. All Life Insurance goes through some sort of underwriting. Some are a lot less than others.
To solve the problems, I went looking at the No Physical Exams Policies underwriting guidelines and they all contained looking at Medical Records. Yes, the Medical Information Bureau (or MIB) is a real thing for Life Insurance. You would have to know what was in your file if you wanted to work with one of those policies.
You can request your consumer file at: https://mib.com/
The one with the fewest questions and the fewest review for Medical Records that we have access to is called Final Expense. You must be 45 or older to start a policy. They won’t start them earlier.
You can play on my quoter and look to see if I missed one with easy underwriting. Or give our office a call and we will walk you through options that you might not know existed.
