It’s easy to think that being denied life insurance from one insurer means that you’ll be denied coverage by all insurers, you might be relieved to know that this isn’t necessarily the case! Receiving the news that your application has been denied may come as a complete shock, or you may have been expecting that result but whatever the circumstances receiving a denial can be a stressful situation. However, there are practical steps you can take to explore your life insurance options to find alternative coverage!
Understanding Why An Insurer Denied Your Application
Life insurance applications can get denied for many reasons, the first step you should take after receiving a denial is to request specific information on why your application was rejected. There can be many reasons an insurer may turn down your request for coverage, including:
- Health issues such as a family history of hereditary diseases, diabetes, and obesity
- Lifestyle choices such as a participation in dangerous sports
- Hazardous occupations like working in the logging, construction or roofing industry
- A history of driving offenses
All of these things have one thing in common; they increase the risk of premature death and the likelihood of the insurance company having to pay out on a policy. If you receive a denial you should ask for written confirmation of why your application was denied so you know the reason behind the decision. Once you have the details of the decision you should ensure that the reason is based on accurate and complete information as decisions are based on the information provided and it is possible for errors to be made. If the determination for denial appears incorrect you should contact your agent to discuss the next steps. If the denial reason is accurate you still have other options!
Finding Alternative Life Insurance Options
The key thing to remember is that insurers have different standards that they use to decide if an application will be accepted. This means that receiving a rejection from one insurer isn’t the end of the road of your life insurance search. The easiest way to find an alternative insurer is to contact a life insurance agency that works with multiple insurance carriers. Agents who have experience securing plans with many different insurers will be able to offer guidance on carriers that will be more likely to approve your application. They’ll also be able to provide quotes for many different plans helping you find the best option for your coverage needs.
Have you been denied coverage? IntelliQuote has many years of experience helping people find life insurance coverage in the US. Our quoting platform provides quote information for coverage from only the top rated life insurance carriers. We also have licensed insurance agents who are available to answer any questions you may have about finding a plan after receiving a denial. Call our team or use our online quote form to find a plan today.