When You Could Be Denied Life Insurance and What to Do
What to do when you’re denied life insurance? If you have been denied life insurance, you can’t appeal the decision. Besides, if they deny you because of one reason, other insurance companies might deny you too. To resolve the situation, you need to find out what caused the denial. The reason for denying you could be a lack of information, outdated information, or even incorrect information.
High Blood Glucose/Sugar Levels
If you have diabetes, it’s essential to keep track of your blood sugar level. This can be accomplished through regular daily measurements and discussions with your doctor. A1C levels are a good indicator of your long-term health, and an A1C test will reveal your average blood glucose levels over several months. Life insurance companies will consider your A1C level in the evaluation process, and this number is highly relevant to your application. Eating low-glucose foods can help keep your sugar levels down and your A1C level low.
You can get life insurance through your workplace if your employer offers group coverage. Group life insurance is often part of your benefits package and doesn’t require a medical exam. Most employers offer a policy worth one or two times your annual salary, but you may want to purchase supplemental insurance to cover the difference. If you have diabetes and have difficulty finding a group insurance policy, it is a good idea to purchase supplemental life insurance.
Another common reason for denials is high blood cholesterol. Your cholesterol is determined by the ratio between LDL and HDL, the “bad” and “good” cholesterol. When these two numbers are not in balance, you are at increased risk of developing heart disease, stroke, and other complications. High blood glucose and diabetes may be a factor, but some companies are more lenient than others.
Aside from diabetes, you may have gestational diabetes, a temporary condition associated with pregnancy, which is caused by your body’s inability to produce enough insulin. Unlike type I diabetes, gestational diabetes generally goes away on its own once you give birth. Still, this condition can put stress on your internal organs, such as the heart and kidneys, and can even lead to failure in later life. Aside from being an obvious risk factor for insurers, a high blood glucose/sugar level can also mean a higher premium, and could even get you denied for coverage altogether.
Failure to Pay Premiums
You have probably received a letter from your life insurance provider telling you that you have been denied benefits due to a lapse in payments. While this is certainly a painful situation, you should be aware of your options in such a situation. There are many steps you can take to contest a denial letter. You can contact your insurer for further assistance. An independent insurance agent may also be able to intervene. Your state Insurance Commissioner may have consumer assistance programs or counselling services that can help you understand your policy.
If you fail to pay your premiums on time, you could find yourself denied coverage. If you have an existing life insurance policy, you can request that the company reinstate it. However, if you miss a payment, the company may claim that you abandoned the policy or stopped paying your premiums. While this can be legitimate, it’s a sneaky tactic meant to prevent you from receiving the death benefit.
Unlike other policies, lapsed policies can be difficult to recover from. A nonpayment can result in a lapse in coverage, meaning that no benefits will be paid if you die. Luckily, most states have laws protecting their insureds in such circumstances, which extend beyond the policy’s premium due date. However, this is particularly true if you’re elderly and have dementia.
Medical Exams with Negative Results
If you received a negative medical exam result when applying for life insurance, there are several things you should do. First of all, if the test results were incorrect, you should contact the insurance company and request a follow-up exam.
The exam will last around fifteen to twenty minutes. The insurance company may also order an EKG or X-rays. After the results are reviewed, you will be provided with a copy of your results. You may want to request a copy of these results as well. These tests are important precautions and should not be ignored. If you are concerned about your medical history, you should get copies of all medical examinations.
It is also important to schedule a medical exam as soon as you complete your application. Normally, life insurance medical exams are handled by third-party companies like ExamOne. You can schedule the exam at a time and place that is convenient for you. If possible, schedule the exam early in the morning when you are not on any medications. This way, you will not be surprised with a bad result in your life insurance application.
If your life insurance application is declined because of a negative medical exam, you can seek an explanation from your insurer. Obtain a copy of your exam results and request a second exam. In some cases, your negative medical exam results may be due to an error in measurement. A measurement that falls outside the acceptable range could indicate you’re at a high risk for illness. In other cases, it may simply be an indication that you have a health condition that precludes you from obtaining insurance.
Getting a Second Opinion
If you are concerned about your health and could be denied life insurance coverage, getting a second opinion is highly recommended. Second opinions are important because they allow you to weigh all of your options. After all, you are the one paying the premiums and need to make sure you’re not missing out on important details. A second opinion also gives you a new set of eyes to examine your health and identify any possible issues that could be delaying treatment.
If you have a critical illness, a second opinion is essential. Many healthcare professionals believe that second opinions are essential and should be a right for every patient. In fact, most health plans cover second opinions. In addition, Medicare and Medicaid pay for the services of a second opinion provider, and in some cases, a third. Whether or not you’re denied life insurance is a personal decision, but a second opinion could make all the difference in your overall health.
Getting a second opinion can help you make better health decisions. Sometimes, a second doctor will agree with the first one and recommend the same treatment. Other times, a second opinion may provide you with new information or suggest a different course of treatment. Either way, you’ll have more information than before. Getting a second opinion could save your life and help you get a better life insurance policy.
If you are concerned that your mental health condition may cause you to be denied life insurance, it is a good idea to seek a second opinion. This can provide you with the peace of mind you need to feel confident in your decisions. If you have a medical condition that could make you ineligible for life insurance, a second opinion is the best way to avoid being denied life insurance coverage.
Getting a Guaranteed-Issue Policy
A guaranteed issue life insurance policy is available to people in reasonable health, but it’s worth noting that it’s not for everyone. Some people with health issues or dementia may be turned down, but most people with decent health will get covered. A guaranteed issue policy will also have a graded benefit. This means that the death benefit you receive will likely be less than the maximum amount you could be denied.
Another downside to getting a guaranteed issue policy is that it has a two-to-three-year waiting period, which means your beneficiaries will never receive the full amount of death benefit. In addition, these policies often have very limited coverage amounts and may require a long wait before death benefits start. While these policies may have low premiums, they’re beneficial for your family if your loved one passes away unexpectedly.
Getting a guaranteed issue policy is best if you don’t need to undergo a health exam or answer health questions. Those who don’t want to spend the time and money to get medical tests and have a history of health problems are likely to be better off with a simplified issue life insurance policy. But be aware that the policy you purchase will only provide a small death benefit.
One downside of a guaranteed issue policy is that it’s often limited in terms of death benefit. It won’t replace your income in the long term, but it may be enough to pay for funeral expenses and final expenses. While guaranteed issue life insurance policies aren’t ideal for everyone, they can be a valuable financial asset for people who might otherwise be turned down for life insurance.
In Summary
if you have been denied life insurance, it is important to understand the reasons behind the denial. Factors such as high blood glucose/sugar levels, failure to pay premiums, negative results in medical exams, and concerns about health conditions can contribute to denials. To address these issues, consider options such as managing blood sugar levels, seeking group coverage through your workplace, contesting denials with your insurer or independent agent, and requesting second opinions or follow-up exams.
In some cases, a guaranteed-issue policy may be an alternative to explore. Remember to gather all necessary information, review your options, and make informed decisions to secure the life insurance coverage you need.
About The Writer
Neil Alfaro is a content writer with a Business Marketing Diploma from George Brown College. With over a year of experience in writing, he specializes in crafting engaging blogs and social media posts. Neil’s proficiency in HTML, CSS, and Bootstrap allows him to optimize content for the web, while his graphic design certificate in Photoshop adds visual appeal to his work.
Currently a Content Writer at BreezeMaxWeb®, Neil creates high-quality content such as blog articles and social media updates, ensuring accuracy and consistency through his strong editing skills. He also conducts website quality checks, evaluating functionality and user experience to optimize online presence.
With a unique blend of marketing knowledge, writing expertise, technical skills, and an eye for design, Neil Alfaro is committed to delivering exceptional content that informs, engages, and drives results.
