Life Insurance Coverage Denied

[Dandelion149]

What is the name of your state? Nebraska

I have been denied coverage of life insurance due to taking a certain medication for depression. NOW I'm depressed. Can someone shed some light on the Medical Information Bureau and how information can be reported to them regarding my health/medical condition WITHOUT violating HIPPA laws? As I understand it, other members can gain access regarding my medical condition if it has been reported. How does this NOT violate HIPPA?

 

[seniorjudge]

http://www.hipaa.org/

Start your research here.

 

[Dandelion149]

Thank you for the link. Does anyone have any personal opinion or law information on my question?

 

[seniorjudge]

Q: Does anyone have any personal opinion or law information on my question?

A: Yes. See the link in my prior response.

 

[Dandelion149]

Gee, thanks a bunch.

 

[ALawyer]

The consent form you signed when applying for the policy authorized the insurance company to check your medical history and do an MIB check.

If you lied on the application, and failed to disclose that you were taking medication, the policy would have been contestable for 2 years.

All insurance companies underwriting rules deny coverage at the preferred and super preferred rates to those with certain medical conditions, and depression is one of them. Some companies will still write coverage, although at significantly higher rates -- because you are a significantly higher risk -- in most instances.

 

[Insurance-Agent]

ALawyer is right. When you apply for life insurance you signed a HIPAA consent form which allows the insurance company to search the MIB and request records from your physician and the hospital. On the application you probably put down a physician and he's/her contact info.

Shop around for quotes from different agents and insurance companies. You may have to pay a higher premium every month but some companies do issue life insurance for depression. Keep in mind that you need to tell the Insurance Agents about your depression so they can give you an accurate quote and shop the best companies. Because you have depression now, you won't be able to qualify for the preferred rate even 10 years from now. Maybe in 5-10 years you can get a standard rate for your life insurance.