There are several reasons a life insurance policy may be denied, including:
1. The applicant's health - This can be anything from someone
with uncontrolled diabetes or someone with cancer having only months
to live.
2. The applicant's health has not been stable for a certain length of time. This
can range from someone who had very high blood pressure and only been on
medication for one month, to someone with MS who has had a recent major
exacerbation.
3. The applicant is planning to have major medical testing or a major operation in
the near future. In other words, if your doctor has scheduled a test to see if
you have Cancer, you will need to wait until after the test to apply fro your life insurance. If
you have breast removal surgery scheduled in two months, the insurance company
will ask that you wait until after your surgery to apply for a life insurance policy.
4. The applicant has had a recent bankruptcy that has not been discharged, has
undergone recent drug or alcohol treatment, has had numerous traffic violations or DUI's in the past year, or other non-health related risk factors.
There
are simplified issue life insurance policies that do not require a medical exam, and guaranteed
issued life insurance policies that do not have any medical requirements, that can be purchased when a
medically underwritten life insurance policy is not available.
Simplified issue and guaranteed issue plans do have restrictions on the amount of life insurance available, you must be in a certain age
range to buy them, and they are not available in every state.
So, some people
do apply for simplified issue or guaranteed issue life insurance policies and get declined
simply because they do not fit the age requirements for acceptance, or it is not offered in their state.
Have you been denied life insurance? If so, learn more about guaranteed acceptance life insurance plans.
