Before starting tonight’s Tip, thank you for your great feedback last week. I invited you to tell me what about your health insurance is most confusing and,
what you’d change if you were Insurance Czar. We’re still sorting through your replies. (A couple of you are needed in Washington!) A summary of your feedback will be ready to post on our website shortly; we’ll provide a link next week.
Now to Tip #278.
Applicants for life insurance undergo thorough underwriting.
What’s that?
Expect to answer a battery of medical questions on the application. Then, expect to have the insurer obtain your medical records. For larger amounts, expect to undergo a paramedical exam.
Here’s the good news. Insurers have seen it all. Some companies have niche expertise in approving common conditions. Here are just two examples:
- one carrier offers preferred rates on applicants over 60 with well controlled Type 2 diabetes.
- another insurer offers non-smoker rates even if applicants smoke e-cigarettes or marijuana (three times a week or less)!
It's good to know we can help a certain gold medal swimmer should he phone!
P.S. Medicare educational meetings at The Rauser Agency 8/24 (Mequon) and 9/27 (downtown). Both start promptly at 5:00. To learn more, give us a call.
