I want to sell Life Insurance to a friend...but i am almost positive he has smoked pot within the last month..
I know that for the life insurance, he will have to have a paramed come to his house/work and check him over real quick, and they almost always do a urine test depending on the amount of insurance he is purchasing. If I am fairly certain he HAS smoked weed within a few weeks, am I wasting my time approaching him on Life Insurance?
Just tell him if he wants the insurance to clear up for the drug test. Well worth it, I have Cancer and can't buy.
You could be liable for misrepresentation since you are the agent of the company they are expecting you to protect their interest,and hiding information that if the underwriter would know about he would not give the same rate. this is also could be moral hazard. Just write the correct information and let the underwriter decide the tests and rats.
Answers:
Find a limited underwriting policy (I think Jefferson Pilot has one) where no paramed is required. Don't do anything that would jeapordize your license, but you can find a policy he'll qualify for.
No. If he has a need for insurance and you are looking our for his best interest, approach him about the insurance. It is not likely he will be turned down but he will receive a tobacco rating.
If your friend has smoked anything in the past 12 months, he won't qualify for the preferred rate. He will be rated as Tobacco user.
I hope you are doing what is in the best interest of your friend and not the best interest of you earning lots of commissions.
Heck no, wait until he's REAL STONED and then sell him every policy under the sun!
Tell him to be honest not all insurance companies look badly on smoking pot - better to be honest - you could lose your job if it came out later on.
If you don't know...you don't know.
If you're uncomfortable, tell him.
Ask him. If he says yes, tell him it'll show in his blood and urnine test. That will probably scare him enough to not even apply. Then it's on him...not you.