It is common for us to meet prospective clients who were previously rated or declined on an earlier insurance application. This is a frustrating occurrence. The reason typically results from medical issues, a hazardous profession (e.g., oil rig worker, crab fisherperson, etc.), or the participation of a hazardous sport (e.g., backcountry skiing, or car racing).
Use an Experienced Agent from the Beginning
Situations like this exemplify the importance of an experienced life insurance agent who first takes the time to find out about your health, hobbies, and travel plans before you complete an application. In fact, many companies do not require the agent to even ask health questions when they do the application, relying on a telephone interview or a nurse’s testimony when the medical portion is conducted.
Answer the Hard Questions First
Failing to ask these questions will inevitably lead to a disappointed client, when the decision comes back declined or with a substantial surcharge. Unless the agent is familiar with your specific issue, the experienced agent will suggest sending an anonymous preliminary opinion request to a few candidate companies to test the waters. Depending on the replies, they will recommend a company and plan or a strategy that has the highest likelihood of success. If a rating or possible decline is involved, they will discuss the best way to position the application to get the most favorable outcome.
From time to time, surprises get dug up during the underwriting process, usually from the blood tests. An experienced agent will help you make the best decisions on what life insurance policy will best protect you and your family’s lifestyle.