If he needs coverage and this is guaranteed issue (meaning they don’t have to go through paramed & UW) then I would take it right away then look for cheaper alternative.
If you look at the chart for 48yo at $100k coverage it is $250 annually which is a little less than the avg cost of 10yr guaranteed term on a Standard Non Tobacco Male with quality carriers ($280-$310). Pref NS male would be approx $180-$200yr with those carriers.
At age 50 VGLI is $410 then at age 55 $763. They have the right to raise rates too. I only see this as a good option if his health is worse than Standard or he uses Tobacco & they take him at the rates shown on the form. If he has good health he might as well lock in rates now with a 10-20 guaranteed term from competitive carrier such as ING, TransAmerica, Protective, Principal, Metlife. Best to use agent that has access to many carriers because some have better rates at Pref while others are better at Std
