Life Insurance Blog

Rated policies, the good, the bad, and the uninsurable
April 21st, 2009
in Life Insurance

Let me tell you the good news and the bad news.  The good news is you got approved and the bad news is you got a worse underwriting rating due to your medical exam.    This really can be good news as you received approval and have the life insurance that you had sought out.  It is unfortunate that you will have to pay more premium than initially was estimated.   If there was a reason for the insurance company to rate you, then it may be  a blessing that you were even insurable.  Insurability can be fleeting and you can be insurable and healthy today and sick and unisurable tomorrow.

Don’t worry as there are often options that you can pursue to modify the premium.  One options we offer our clients is the ability to shop the policy with other life insurance companies for them.  S0me companies underwrite differently for certain underwriting risks and that could be helpful.  The more issues that you can reveal to us up front before we apply the better.  For example, if you have type 2 diabetes, there may be a company that we would have you apply to for the most favorable results.  The medical exam can catch certain underwriting risks that can be  a huge blessing.  One of my clients didn’t know that they had high blood pressure until they did the medical exam and no are seeking doctor’s care for it.  This may have saved their life, because it would have continued to go untreated.

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