Declined (Postponed) Life Insurance!

If you have applied for and been declined or postponed for a term life insurance policy or a permanent policy, this means that the carrier views you as an unacceptable risk for them to insure your life. This does not mean that every company will so no to you and that you are un insurable! 

The first thing you should do is pick up the phone or send us here at the Lifeinsurance-pros an email, stating who you applied with what they said why you were declined or postponed and tell us all about your current health condition.  This way we can immediately go back out to the market and shop your case to our stable of top notch carriers. 

You see what happens is if you are working with a captive or career agent they typically only can offer one carrier to you, but if you work with a broker like us we have access to over a hundred different top rated carriers.  Also a number of agents or brokers just don’t know how to work the declined or impaired risk-substandard markets like we do here at the PROS.  It takes years of knowing who the carriers are that will even quote out to impaired risk cases, and who those companies are that is even worth working with. 

We typically can turn around in a couple of days a term life insurance quote depending on how severe your health condition is being treated and how long ago you were diagnosed.  We have a process were we send you a questionnaire to fill out with the pertinent information then we send that information out to our underwriters for what’s called tentative quick quotes.  The underwriters typically get back to us in 24-48 hours and then we can tell you if there is anything we may be able to help you with.

Postponed Life Insurance!

When you’re application for life insurance is postponed it means that you have not been declined but the company will not entertain the notion of insuring you until some date in the future.  Typically we see postponed applications from cancer survivors due to the high rate of re occurrence.  But you must look at the bright side, if they say wait 6 months down the road to re apply or so they can see good follow up with your Dr. then make sure you are seeing your doctor so you can re apply for the term life insurance that you probably really need to make sure your family is taken care in the event of your death. 

So don’t despair if you are declined or postponed its not exactly over, you just need to know where to go (here) and who to talk to (me).  We have a very high rate of placement with the declined cases that we see, with that said be prepared to pay more in premiums because if we can find coverage it probably will be highly table rated or with a flat extra.  We can explain what all these confusing terms mean to you over the phone together. 

If these terms are confusing please find out what there meaning is here  Life Insurance Glossary.