can I contest a rating class assessment?

[afalck]

What is the name of your state?What is the name of your state?What is the name of your state?

New York


I recently received a very low rating when applying for life insurance because I had an “in situ” melanoma removed 5 years ago.

My dermatologist tells me that my risk of dying of cancer is the same as if I had never had the melanoma (“in situ” means that the cancer was localized and found/removed before it could spread)

My concerns are:
1. This rating unfairly puts me in a category of much higher risk cases (making my premiums much higher than they would be otherwise).
2. If insurance companies share information (which I understand that they do), then this faulty rating will permanently damage my ability to get life insurance elsewhere.

My questions are:
1. Can I contest the assessment?
2. If I accept the insurance policy, will it affect my ability to contest the rating later? Would it constitute acceptance of their assessment?
3. Is there a regulatory agency that dictates norms for how to rate different risk factors?
4. Is there a way to force the insurance company to strike their faulty rating from their records?
5. Can I seek indemnification for the damage that a faulty rating will cause to my ability to get insurance in the future?


Thank you in advance,


Arturo.

 

[afalck]

New Development

Since I posted the original questions, my Doctor spoke with the underwriter and the insurance company is now offering me a rating of standard (better than before but not what it would have been had there been no history of melanomas)

So, clearly:
1. The underwriter made a mistake the first time (and now admits it)
2. With even better information the underwriter is still not rating my case correctly.

Questions:

Same as before... do we (consumers) have some recourse?



Thanks,


Arturo.

 

[afalck]

New Development

Since I posted the original questions, my Doctor spoke with the underwriter and the insurance company is now offering me a rating of standard (better than before but not what it would have been had there been no history of melanomas)

So, clearly:
1. The underwriter made a mistake the first time (and now admits it)
2. With even better information the underwriter is still not rating my case correctly.

Questions:

Same as before... do we (consumers) have some recourse?



Thanks,


Arturo.