If you are denied Life Insurance, then you are not covered meaning if you die, no benefit will be paid to your heirs.
There are 3 basic reasons a life insurance policy will be declined:
1. You health is not good! I am talking more than just smoking or a little overweight. Perhaps there is a history of heart attack, cancer, etc.
2. You have risky hobbies such as skydiving, hang gliding, rock climbing, scuba diving, etc.
3. You are in the Military and are deployed to a "hot zone" which the insurance companies determine or perhaps you are vacationing in a "hot zone".
This said, all companies have different underwriting. I would recommend talking to a broker who can shop around for you. Fill out a questionnaire which all the details so different underwriters can review and see how these companies will rate you.
If you are denied, keep trying. There is a company that will insure you. Let your motivation be the final expenses your family will be left with. If you have a pre existing condition, the rates may be higher, but atleast you would be covered. I have questions. Contact me.
When you are denied life insurance, it not only wastes time, it also can take a blow to your ego. I wrote an article about this in 2009, called "I've Been Declined for Life Insurance". You can read it by going to the About Us section of section of my website, under my name. In it I explain causes for being denied, and what you can do to possibly overturn the decline, or how to get a different type of policy.
The main thing to remember, after being denied life insurance, is that life insurance underwriters only see what is on paper...they do not see the real you. Don't let it get to you. Just find an agent who will help you pick yourself back up and go on to the next option.
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There are 3 basic reasons a life insurance policy will be declined:
1. You health is not good! I am talking more than just smoking or a little overweight. Perhaps there is a history of heart attack, cancer, etc.
2. You have risky hobbies such as skydiving, hang gliding, rock climbing, scuba diving, etc.
3. You are in the Military and are deployed to a "hot zone" which the insurance companies determine or perhaps you are vacationing in a "hot zone".
This said, all companies have different underwriting. I would recommend talking to a broker who can shop around for you. Fill out a questionnaire which all the details so different underwriters can review and see how these companies will rate you.
The main thing to remember, after being denied life insurance, is that life insurance underwriters only see what is on paper...they do not see the real you. Don't let it get to you. Just find an agent who will help you pick yourself back up and go on to the next option.