Principal, LifeNet Insurance Solutions, Redmond, WA
I assume you mean "can a life insurance company deny coverage" and the answer is yes. A life insurance carrier can deny coverage for many reasons including health, lifestyle and financial considerations. The only type of coverage which cannot deny a policy is called "guaranteed issue" and those policies have a 2 year waiting period before coverage begins, except for accidental death.
Renwanz Insurance & Financial Solutions, Carlsbad, CA
It is completely within the control of the life insurance company to approve, deny or postpone your application. Underwriting guidelines are used to determine your insurability. During the application process, the insurance company will look at your medical records, results of a paramedical exam that they pay for, driving record and answers to other lifestyle and medical history questions in order to determine your "rating". If they don't like what they see, they can decline you.
Just because you have been declined by one insurance company, it does not mean you are uninsurable by all insurance companies. Insurance companies have different standards for underwriting and where one company will decline or rate you low; another may approve you or rate you higher.
Working with a qualified, independent insurance agent can help get you connected to the insurance company most likely to give you the highest rating possible for your situation.
Yes, life insurance companies can and will evaluate risk when deciding to approve or deny life insurance coverage. The life insurance company bears the most responsibility. For example, your investment in a term life insurance policy is literally pennies on the dollar of benefit should you have a death claim. Underwriters take a hard look at your mortality risk on each and every policy.
Life insurance can deny coverage when you are applying for it, if you do not fit that company's guidelines for age, health, build, or other factors. Life insurance companies cannot deny paying a life insurance claim unless they have a valid reason for doing so, such as the policy was no longer in effect.
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Just because you have been declined by one insurance company, it does not mean you are uninsurable by all insurance companies. Insurance companies have different standards for underwriting and where one company will decline or rate you low; another may approve you or rate you higher.
Working with a qualified, independent insurance agent can help get you connected to the insurance company most likely to give you the highest rating possible for your situation.