Life Insurance underwriting is all about mortality or how long are you expected to live.
Insurance companies look at your health history as it relates to how it is affecting your life span. The more medical history you have especially some like a critical Illness which recently happened meaning in the last 5-10 years (a critical illness meaning a heart attack, stroke, cancer & more) the more likely you will be declined or postponed to allow more time to go by.
You have to remember that Life Insurance Companies are corporations which do make large profits. And if someone is truly medically involved they will most likely rate you up (increase your premium) or decline you outright.
That said, there are a couple companies out there which will give you some death benefit guaranteed for a price. And the benefit will be under $50k.
There are many reasons you can be declined for life insurance, and not all of them are your fault. Sometimes the person providing your quote does not understand your health condition, or is not well acquainted with the stipulations of the products they are selling. Some people applying for life insurance are unaware of what their doctor has written in their medical records, and can get declined for something they did not even know they had.
Declines are due to your age, weight, health, or risk factors not meeting the guidelines of the insurance company's guidelines. Contact an agent who understands your particular health and you will have a less chance of being denied. However, don't be devastated if you do get declined. There are usually other policies out there, even if they might cost more than the one for which you got declined.
Great question! There are many reasons why you might be declined. The most common reasons that someone will be declined will have to do with their health conditions. Being overweight, having had a recent medical issue (for example, you have a heart attack, become scared, and apply for a policy which is then declined), being HIV positive, or are currently waiting for test results or a scheduled surgery - these can all lead to a decline result. So can sending in applications to several companies in a short period of time. They will assume that you have a dire emergency, and will often decline you. If you would like to discuss your specific case, please feel free to contact me, I'd be happy to help. Thanks for asking!
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Life insurance is designed for “standard risks.” That means that the policy premium is based on an average person of a particular age. Since each of us is unique there are a variety of things that an underwriter would consider sufficiently unusual to no longer consider you a standard risk. The underwriter has a series of tables to deal with unusual risks but sometimes the risk exceeds the limits of the tables. Occupation, medical condition, location and family history are some of the more common factors that might cause a company to decline an applicant.
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Insurance companies look at your health history as it relates to how it is affecting your life span. The more medical history you have especially some like a critical Illness which recently happened meaning in the last 5-10 years (a critical illness meaning a heart attack, stroke, cancer & more) the more likely you will be declined or postponed to allow more time to go by.
You have to remember that Life Insurance Companies are corporations which do make large profits. And if someone is truly medically involved they will most likely rate you up (increase your premium) or decline you outright.
That said, there are a couple companies out there which will give you some death benefit guaranteed for a price. And the benefit will be under $50k.
Declines are due to your age, weight, health, or risk factors not meeting the guidelines of the insurance company's guidelines. Contact an agent who understands your particular health and you will have a less chance of being denied. However, don't be devastated if you do get declined. There are usually other policies out there, even if they might cost more than the one for which you got declined.