Denied Life Insurance? Here Are Your Next 3 Steps

Denied Life Insurance? Here Are Your Next 3 Steps

The process of securing life insurance is a bit daunting, to begin with–all of the questions, the comprehensive physical, and having to delve into the personal health history of relatives on all sides of your family is very detailed and time-consuming. It can be devastating to be denied life insurance terms, especially if you are trying to set up a secure future for your loved ones in your absence.

If you have been denied life insurance, there are things you can do to continue moving in a direction that allows you to set up your family members financially, but it’s going to take a bit of time and some information to be able to work through it. Here are some steps you can take to secure your future financial situation:

Begin the Process of Information Collection

When insurers evaluate you as a potential candidate for life insurance, they must collect information from many sources to assess how risky it is to ensure you. If your risk factors are high enough, you are either rated, postponed, or denied altogether.

You have the right to request information from life insurance companies as to why you have been denied, but you must follow their specific protocols for information acquisition. It may be due to medical history, driving record, or even current exam results. Staying on top of your medical care and proactively caring for yourself through regular physicals, treatment, and exams will ensure that your chances of insurance coverage are higher.

Other lesser-known reasons for life insurance denial include occupational hazards, recreational hazards, or even financial distress. In these situations, it is a little more unclear when being given a reason for rejection, and an underwriter may not also be able to tell you why your application is not going through smoothly. Don’t be afraid to ask questions and get to the root of why the life insurance company is dragging their heels. Let’s be honest—-do you want them covering you if they are doing so begrudgingly? Move on and find another company that will give you the coverage you need.

Confirm the Results of Your Examination

Errors happen, wires get crossed, and faulty processing can all lead to denials that don’t necessarily need to happen. Run all of your information past your family physician, and make sure all tests that are done are done with accurate results. If you feel that conclusions about coverage have been reached in error, contact back out to the company and ask for additional information and additional examinations that could yield different results.

Work with a Life Insurance Agent

While a life insurance company views you as a risk element, a life insurance agent might be able to provide you with better service, as you are seen as a customer who is looking for coverage. They are knowledgable and trained in the process of finding the right coverage for you and your situation, and they would have the time to devote to finding you coverage solutions that fit your lifestyle and your budget. Depending on the type of insurance are applying for, your agent might even be able to point you in the direction of a different company; life insurance companies all have their standards of underwriting, and while one company might deny you for a pre-existing condition such as diabetes, another might qualify you for coverage on the basis that your health is under control with prescription medication. Work with your agent, do some investigation together, and find a plan that works for you.

Give it Some Time

In certain situations, the amount of time between diagnosis and guarantee of coverage needs a little bit of time and space before companies feel comfortable claiming you. Continue to seek care for any conditions, seek to improve your health and your lifestyle in ways that would be attractive to an insurance carrier, and in time; you’ll find the right insurance for you and your family.

Sandifer Insurance Agency: A Leader in Lifestyle Wellness

At Sandifer Insurance Agency, we are committed to your total health and lifestyle wellness. We provide solutions that you seek for the financial future and security of you and your whole family. Qualified and knowledgeable agents are at your disposal, ready to answer your questions and find the coverage that you need at affordable prices. If life insurance is something that you seek as part of a financial wellness plan, contact us today for more information.

Leave a Comment

Your email address will not be published. Required fields are marked *