Life ins denied

[gramdma]

What is the name of your state?Ohio Husband retired last year and we need to replace life insurance. We contacted a company and did all the paper work and teck came to house and did blood and urine . we have been waiting for 8 weeks and I called and they said they were waiting for records from husbands urologist . Then they said they got the reports and would know by the end of the week, then I get a call from the agent and he said they won`t insure him as psa is above 7.0 I told him that is wrong as last exam it was low. We went to the Dr. and We saw the papers that were sent to the insurance underwriters and it was 4.7 I called the agent back and told him about the error and then he called the underwriter and he said it was from the exam the teck did. Well the teck did no exam just blood and urine and that was supposed to be to check for HIV. So I told him I want a copy of those records that they are going by so I can clear this up . He said that I have to request them. The problem I see is that husband will be 65 in June and rates go up again! This is supposed to be a A rated ins co. What can I do??

 

[somarco]

The blood & urine testing is for more than just HIV. They are looking for elevated sugar, presence of nicotine, elevated PSA, presence of albumin, etc. The combined specimen testing reveals indicators on about 40 different conditions.

There are many reasons why a reading may be high including error. You do have a right to receive a copy of the test results. You should get the results and compare them with your doctor's records.

The carrier may be willing to reconsider once docs records are in hand, or they may want to order a second exam (possibly at your expense). The fact you have an "A" carrier means nothing at this point. They have results which are in conflict with their guidelines. Until they have records that indicate otherwise there is no reason for them to change their position.

Is this the only carrier your agent represents or does he/she use other carriers as well?

 

[ALawyer]

Each life insurance company has its own underwriting rules, and makes its own risk assessment. (Some companies have less stringent rules for cash value life insurance than for term life.)

However, most companies ask on their applications if you have been declined or rated for a policy by one life insurer, and you likely will have to disclose that to future life companies.

Elevated PSAs are a sign of possible trouble, and insurers know that can significantly impact life expectancy and thus their risk. While some folks will live to 120 with that test result, the average will experience premature mortality.

At some carriers that level of test result will result in what is known as a "rated" policy -- it costs (often far) more than the same policy that would be issued for a perfectly healthy (that means in terms of test results too) person of the same age, but that still may be an attractive alternative IF life insurance coverage is really needed.

Insurers tend to be suspicious of people who want to buy lots of life insurance and don't have a real and obvious need. If you have young children, or the insurance is for a business, or some unusual estate tax planning need, that's a bit different, and that should be conveyed. But