Getting approved for life insurance coverage with a pre-existing health condition is easier when using a company taking a clinical approach to life insurance underwriting. Before starting your next application, ask your agent: Are you familiar with the clinical underwriting approach?
Our goal is help you understand how clinical underwriting can help you get better rates on your life insurance policy.
What is Clinical Life Insurance Underwriting
Clinical life insurance underwriting considers the details of your complete medical history when your application is submitted the underwriting department.
Then, life underwriters will compare you medical history to the most current medical data to determine your cost for life insurance.
Clinical life insurance underwriting evaluates the elements that truly affect a person’s lifespan, such as lifestyle, family and medical history and compliance with your doctor’s recommendations.
“Companies not using the clinical underwriting philosophy often issue a higher rate class applicants being treated for a variety of common medical conditions.”
It is often difficult to know which companies offer the best deals to people with minor health impairments. We use a very analytical and detailed process when shopping for life insurance for our impaired risk clients.
Clinical life insurance underwriting can benefit people with many health conditions.
We have successfully implemented clinical underwriting for those being treated with many chronic conditions like:
How Clinical Life Insurance Underwriting Works
First, your general medical history is initially evaluated to determine which insurance companies may be best suited for your particular medical condition.
Then, we start the application process by having you complete a brief insurance examination which can be utilized with many insurance companies.
We also have you sign a HIPPA form to order the required medical summary from your doctor to be used with all of the viable life insurance companies.
Your medical profile is presented to multiple life insurance companies to determine which life insurance carrier would be willing to offer coverage at the most competitive rate class.
Instead of being assessed an automatic rate hike because you are being treated for a medical condition, clinical underwriting evaluates both the control of your condition, and compliance with your physicians plan for treatment.
Moreover, it validates this compliance by obtaining your complete medical records to make sure you are managing your health properly.
This allows us makes accurate premium comparisons based on how your medical history has been clinically underwritten with each insurance company.
People are living longer because of continued improvements in medical science. However, many life insurance companies only offer rates for coverage based on medical information from an underwriting manual created many years ago.
If you have a a medical condition, simply do not use these life insurance companies!
Instead, consider a few companies currently using this approach to underwriting such as the Banner Life Insurance Company, American General, and Prudential.
If you have a Medical Condition,
Don’t forget to Lock in your Coverage!
If you have a medical condition, we often recommend locking in your coverage for as long as possible. This assures you will have coverage for the long run. Many people can not qualify for coverage if their condition worsen in the future.
Furthermore, insurance companies tend to be more liberal in underwriting polices such as guaranteed universal life and other permanent life policies.
Learn more how clinical underwriting could help you to obtain great rates on life insurance, please do not hesitate to call us 1-877-249-1358.