WE THINK OUTSIDE THE BOX

In 1989 we were approached by a large law firm looking for group life insurance coverage to replace an old Manhattan Life policy for which key attorneys had qualified medically for $1,500,000 in coverage at a very low rate. We, as had other brokers in the recent past, were unsuccessful in convincing a carrier to guarantee issue $1,500,000 to the firm. But, we didn't stop there. We continued to identify ways to replace this coverage on a group basis to protect the attorneys at a reasonable cost to the firm.

After some research, we discovered that the firm could qualify for $500,000 in guarantee issue coverage from most carriers. We restructured our bid specs and went back out to the marketplace. We identified several carriers who were willing to assume the risk at a rate comparable to the Manhattan Life rate with a $500,000 guarantee issue maximum.

We selected three reputable, highly rated carriers who agreed to participate in "stacking" the coverage. The result was exactly what the firm had been looking for - A total of $1,500,000 in guarantee issue group life insurance coverage at a rate comparable to Manhattan Life's rate. Our client now since 1989, we have continued to service their three life policies with little or no increase in premium since that time.