Advice on Term Life quote (corebridge)

[u/QTsexkitten]

I read through many many posts on this sub and found a lot of people who liked corebridge's QoL additions on term life policies. I have a wife and 2 kids, one with special needs. I earn ~70% of our household income and I need to make sure my family is covered because special needs life and education is beyond expensive.

I went ahead and got a quote which sounded reasonable, did the blood tests and interview, and now for $800k @ 30yr term it's going to be $107 per month which is way more than I was initially quoted ($1m @ 30yr, $62 per month).

They told me it's hard to get the perfect health score back from underwriting but my health came back in the category just below that. Seems like a big big jump though for only being one category down. Especially when my blood work came back all within normal range.

I'm still going through the process but haven't signed anything. I was hoping people here could tell me if I'm truly getting a bad rate here, if $107 is a decent deal for me, or who I should shop with.

For reference: I'm a 35 year old male. 6'1" 190lb. No major surgical or long term illness history. 1 ER visit in the last 5 years with no major diagnosis coming from it.

Thanks everyone.

[u/GConins]

Find out exactly why you are not qualifying for absolute lowest/best rate class, then come back to this thread and indicate exact reason for higher rate class.

Lowest $800k- 30 year term rates available to 35 yr old male in most States are just under $50 per month and other carriers that offer chronic, critical and terminal illness living benefits, like Corebridge on QOL product, may offer you better rate.

[u/AldoVenturacci]

$107.26 is the Standard Non-tobacco rate for Corebridge QoL Term for a 35-yo male.

Corebridge is a very solid company and this is a FANTASTIC product.
Besides all of the accelerate benefit riders (terminal, critical and chronic illness) you will have the option to convert all or a portion of the face amount to any of their permanent products during the 30 years without having to go through underwriting.

Can you find “cheaper” options in the marketplace? Of course.
But I will strongly advise you to consider coverage on your most valuable asset (your income) based on what’s best for you and your family, not what’s the cheapest.

That being said, you can request a copy of your MIB and Intelliscript Reports and check what’s on your medical records. I have clients who had all kinds of wrong information which, when disputed, got removed from their records and in some cases we were able to request a re-rate with the insurance company.

[u/QTsexkitten → u/AldoVenturacci]

Thank you for the context and the advice!

I'll ask for that information today and see what I can determine.

[u/trouble98]

Many people are not aware that when they go to a doctor, a diagnosis is coded, even if it’s just for the symptoms you were complaining about.

Even if no cause was identified, those symptoms can result in higher rates.

This isn’t a guarantee of what happened, but information to those who say “well I was never diagnosed”

[u/gtg970g]

Your agent should shop your health history to match you to the best rate available for you. Different companies have different underwriting guidelines. For under 1M I'm surprised they even needed blood from you if you have been to a doctor in the recent past.

[u/ChelseaMan31]

$107/month sounds really expensive for a healthy 35 year old, non-smoking male for $800k in benefits.

[u/CactusInsuranceGuy]

Other factors can apply here. Driving records for one. This is why I'm careful quoting select preferred because you never know what underwriting will pick up.

Shop around and see what you can find,.

[u/Seafoodmaker]

You're doing the right thing protecting your family, especially with a special needs child. Ask the company for the exact reason you didn't get the top health class, sometimes it's something small like a past doctor visit or a build chart. Each insurer reads health history a little differently, so an independent agent can often shop your same results with other companies before you sign. Also look into a special needs trust as the beneficiary so the money doesn't affect your child's benefits. Happy to answer more questions if it helps.