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Denied Life Insurance, What’s Next?

February 13, 2012

Find Out Why Denied Life Insurance

Getting denied life insurance can be the ultimate in rejection. There are steps you can take if you are denied life insurance that might help resolve the situation. At the very least, it will help you to understand what happened and why you were denied life insurance coverage.

Find out why you were denied life insurance, and the best way to do that is to go right to the source. Insurance companies will deny life insurance for a number of reasons. Some of those reasons include:

Denied Life Insurance

Another possibility is your life insurance medical examination. During the medical exam, there might have been something turn up, such as an odd laboratory reading that indicated you have a health problem. You might not have even been aware of this. If this is the case, get yourself checked out by your personal physician. It is conceivable that a mistake was made during the examination or laboratory testing.

If you do indeed have a health issue, it might be something that your doctor can treat and you might improve. Your doctor may be able to explain things more clearly to your insurance company.

Other Options

If your denial was legitimate and there is just no way around it, you can try another insurance company. Be aware that you should not hide the fact that you were turned down by the first insurance company. That could be considered fraud and if you are granted coverage by another insurance company and they find out you were not honest, they could rescind your policy.

Check with your employer, they might offer a group life insurance option. Typically, since the risk is distributed among many people, you may not be required to undergo a medical exam. You will still be required to answer questions related to your health, however.

There are also a types of life insurance known as guaranteed issue life insurance or graded death benefit life insurance. There are several things that make this type of insurance attractive:

Keep in mind guaranteed issue life insurance or a graded death benefit life insurance policies are going to be more expensive for the insured.

Explore all of your options, and get life insurance quotes from experienced agents that can recommend the best solution for you and your family. Speak with an agent experienced in denied life insurance cases.