Has a Life Insurance Denial Gotten You Down?
Check Out Promising Options
Everyone should apply for life insurance—no matter who you are. Young, old, married, or single, life insurance offers benefits for every person in every stage of life. It can help pay your funeral expenses, cover leftover debts, and put your kids through college after you pass away. But unfortunately, a policy’s usefulness makes coverage rejection even more devastating. Don’t give up hope, though. You can still get coverage after receiving a life insurance denial.
Find out why.
You need to understand why the insurance carrier rejected you. Some companies issue life insurance denials for issues such as obesity, smoking, and poor driving records—all of which you can remedy. In those cases, you can lose weight, quit smoking, or improve your driving habits and then reapply later.
However, a carrier might reject you for an issue you can’t fix, such as a devastating illness. In that case, you could try applying for a policy from a different company. As an independent agency, we can offer several options.
Check the information.
Once you figure out the reason for your life insurance denial, make sure it wasn’t a mistake. Sadly, human error happens, so double-check all information sent to the carrier and confirm all exam results with your doctor.
Try a different type of policy.
It’s possible that you simply won’t find traditional coverage. In that case, try “no-exam” or “guaranteed” insurance. These policies don’t require medical exams, which is a godsend for life insurance denial cases. However, they are more expensive, and they may mandate a waiting period before your beneficiaries can access full benefits. If you pass away before that waiting period ends, your loved ones won’t receive the policy’s full amount.
You could also look into group coverage through your employer. You may not get the policy you want, but some insurance is better than none.
We know it’s frustrating to receive a life insurance denial. But don’t worry. Our agents can make sure you get the coverage you need. Just give us a call.