Underwriting results - what are my legal rights?

[johnsjolly]

What is the name of your state? Maryland

I recently purchased a 20 year level term life policy, I was underwritten at the standard rate, however my physician does not see anything in my medical records that justifies this rate vice a preferred rate. I am in excellent health with all tests etc... in normal ranges. I sent a letter to the life ins company asking them for the basis for the underwriting, to which they replied that it was based on my medical records and I should discuss this with my physician. The letter was highly annoying, because I was very clear in my written request that I wanted to understand what thing or things in my medical records resulted in the underwriting coming in at standard vice preferred. Do I have a legal right to receive a more detailed explanation of the factors in my underwriting from my insurance company, and if so how do I go about getting them to provide it? I really think that they have made a mistake but I don't know how to get the information from them that I need to get it corrected...

John

 

[somarco]

Your physician is not assuming any risk so they will not look at your health history in the same way as an underwriter. The carrier is under no obligation to disclose the details of their underwriting process, but some are more forthcoming than others. Neither are you under any obligation to accept the policy at any rate.

What does your agent have to say?

 

[johnsjolly]

The agent has said he will be helpful and work on my behalf, but he hasn't delivered anything tangible thus far. I'm going to send the underwriters another letter and ask them for a more detailed explanation. If I don't get an adequate response then I'm going to phone a new broker, go over everything with them, and start the process of underwriting with a different company.