Overcoming Past DUIs to Place GUL Coverage with Corebridge
We know insurability can be an issue with any case involving multiple DUIs, but the team at Corebridge had everything in place to move this case along and secure a win.
Underwriting: DUI History
Carrier: Corebridge
Product: Secure Lifetime GUL 3
Target: $178,970
SITUATION
A 50-year-old male was attempting to replace $5,000,000 of IUL coverage with a GUL product as part of the funding for a buy/sell agreement.
The insured's history of multiple DUIs from 2010 and 2018 was problematic from a driving record perspective.
The case was further complicated by historical office notes from his physician indicating alcohol usage of fourteen drinks per week.
SOLUTION
Karen Harrison, Managing Associate Director of Underwriting, Corebridge
Corebridge Secure Lifetime GUL 3
RESULTS
With limited GUL products in the market offering guarantees to age 120, the AIN Member Firm quickly focused their attention on Corebridge's Secure Lifetime GUL 3 product.
Upon Karen Harrison reviewing the file, she noticed conflicting alcohol notations between the “social history” section and the actual office visits which showed a reduced use of alcohol.
As a result, Karen advised she would need to see the following to offer on the case:
A negative CDT marker & a negative BAC on the insurance
A letter of clarification from the doctor on the insured’s current alcohol use
Fortunately for all parties the labs came back clean, and the client was able to obtain clarification from the doctor confirming minimal current alcohol use.
As a result of Karen’s open minded, pro-business approach, the client was approved for the new coverage and $178K of target premium.