When you submitted an application for life insurance, you were certain that the life insurance company was going to approve you at their top health class, Super-Preferred. After all, at your last physical exam, your doctor told you that you were in perfect health.
So, it is natural that you were a bit miffed when you received your policy at the Standard health class. What happened? How could they possibly disagree with your physician?
We are not unfamiliar with this scenario at LifeInsure.com. As we are the intermediary between our clients and the life insurance companies, we often suffer the slings and arrows of our disappointed new clients when we deliver the news to them.
The simplest way to explain this oft-occuring discrepency is this there is clinical medicine and there is insurance medicine. Clinical medicine is your physicians diagnosis of your health. Your doctor can see you as often as theyd like and can modify treatment plans as needed. Insurance medicine assigns you a risk class based on their review of your medical records, your life insurance medical exam and health history. Life insurance undewriters look at life expectancy and only have one opportunity to review your medical records.
The good news is that if you dont agree with the underwriters assessment of your risk, you can go back to them with additional information and/or a letter from your physician, asking for a reevaluation based on this new information. It doesnt always work, but we have had success with many clients if the new information they provided alleviated the underwriters concern about certain health issues.
We have also found that, by providing life insurance quotes based on specific health information, theres less of a chance of being disappointed at approval time. There are no guarantees the quotes are 100% accurate, but they are more accurate than quotes given without taking your health profile into account.
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