Applying for life insurance with history of hospitalization.

[scagnt83]

Most Life Apps have a specific time frame on them for hospitalizations.

Like Ray said, find the app that fits your situation.

With time passed, your situation will fit more and more apps.... HOWEVER.... your rates increase year by year... and you risk developing a different health issue that could derail being approved.

Get what you can now. Get more later if you can.

Also, a decline on MIB does not mean your are automatically declined by all other carriers. For a fully underwritten policy, they will just want to know WHY you were declined.

Ex: I had a lady who wanted simplified issue with no health exam or medical records retrieved. She failed to disclose something about her health history and was declined. This was because she just did not fit the parameters of their criteria. Went on her MIB record.

Turned around the next week `and applied her to a fully underwritten carrier and she was approved at a Standard rate. Told them she didnt meet uw requirements on the SI policy, but meets them on this policy. No issue at all.

 

[vic120]

Most Life Apps have a specific time frame on them for hospitalizations.

Like Ray said, find the app that fits your situation.

With time passed, your situation will fit more and more apps.... HOWEVER.... your rates increase year by year... and you risk developing a different health issue that could derail being approved.

Get what you can now. Get more later if you can.

Also, a decline on MIB does not mean your are automatically declined by all other carriers. For a fully underwritten policy, they will just want to know WHY you were declined.

Ex: I had a lady who wanted simplified issue with no health exam or medical records retrieved. She failed to disclose something about her health history and was declined. This was because she just did not fit the parameters of their criteria. Went on her MIB record.

Turned around the next week `and applied her to a fully underwritten carrier and she was approved at a Standard rate. Told them she didnt meet uw requirements on the SI policy, but meets them on this policy. No issue at all.

Still I would say if 1 year makes a difrence I would rather wait the year then have to explain why I was declined

If longer then a year more to weigh

Also I would suggest looking into other companies see if the time fits better or better questions for the situation

 

[scagnt83]

Still I would say if 1 year makes a difrence I would rather wait the year then have to explain why I was declined

If longer then a year more to weigh

Also I would suggest looking into other companies see if the time fits better or better questions for the situation

It all just depends on the situation and reason for decline.

Some are an issue you would rather not have to disclose. Others are not a big deal.

Not fitting the criteria on a SI policy is often not a huge deal if you switch to a FU policy. But if you switched to another SI policy, it could be an issue.

Also, you work in a world of Guaranteed Issue products. Life Insurance is not. Life events over 1 year can easily disqualify someone for a policy.... had it happen way too many times. People wait "until its a good time" and then they cant qualify.

 

[vic120]

It all just depends on the situation and reason for decline.

Some are an issue you would rather not have to disclose. Others are not a big deal.

Not fitting the criteria on a SI policy is not a huge deal if you switch to a FU policy. But if you switched to another SI policy, it could be an issue.

Also, you work in a world of Guaranteed Issue products. Life Insurance is not. Life events over 1 year can easily disqualify someone for a policy.... had it happen way too many times. People wait "until its a good time" and then they cant qualify.

True You are right about that

I do think though this question if he answers yes and for reason of alcohol abuse may be decline

His agent should be able to call Ins company and get answer on that

If its going to be decline then probably don't do the app

Are there other Life apps that don't ask that question in this time period?

 

[scagnt83]

I do think though this question if he answers yes and for reason of alcohol abuse may be decline

His agent should be able to call Ins company and get answer on that

If its going to be decline then probably don't do the app

I agree 100%. Going to be hard to find coverage after that medical event being so soon. Its not a "one off thing" that causes that.

And yeah, if you think its going to be a decline, dont do the app. 100%.

 

[scagnt83]

Its technically a dirty little secret that only my wife and a few of my buddies know about.

No, it is not. I guarantee you were given prescriptions while being treated. That is on record in the RX database... along with the facility that prescribed it.

The Carrier will 100% come back and ask why you were being treated in that hospital.

A carrier recently asked about a 15 year old hospital procedure that a client did not disclose (because it was out of the time frame)... but it could possibly have fallen under a different health question. They found it through the RX database... knew the Doctors name and everything.

 

[N778]

Thanks so much for all of the responses. It's been since August 20 20, I haven't drank a sip of alcohol since then. Other than that I am healthy, Ive had my labs drawn every year since then, everything is normal. Is there any benefit to relaying this to my doctor and I having a doctors note that states that I don't have a problem with alcohol or something along those lines?

 

[Travis Price]

Its not a "one off thing" that causes that.

Statistically, no. About 40-70% of all pancreatitis episodes are due to chronic EtOH. In practice, there is research that supports that acute pancreatitis can occur after a single binge-drinking episode.

Pancreatitis: What Exactly is It?

The insurance company is going to rely on stats, so one episode 12 years ago... I'm not an underwriter, so who knows. However, I'm also a guy that gives the benefit of the doubt. So, I'm more inclined to believe him personally. Regardless of the denial.

HOWEVER, don't lie on an insurance application and any agent that tells someone to do that is in a world of pain.

 

[Markthebroker]

HOWEVER, don't lie on an insurance application and any agent that tells someone to do that is in a world of pain.

Even though you sometimes use fancy big words I don't understand, and we often disagree, you and I are 100% on the same page on this.

 

[Travis Price]

Even though you sometimes use fancy big words I don't understand, and we often disagree, you and I are 100% on the same page on this.

The American Symposium of Socialists pay me per the word and rarity. Elites can't be elites if they aren't extra fancy.