Life Insurance quote doubled. Need advice.

onward-upwardJune 12, 2006

Here's my situation:

I am 38YO male. I went on and requested a quote for $750K life insurance-20yr term policy. The best quote came from an company that quoted me around 450/yr. Sounded good. Got a call from the agent who scheduled me with a paramedical who came by, asked me questions, drew blood and took a urine sample. For some reason, the first urine sample was inconclusive and the paramedical came back again for more urine.

Anyway, I got a letter and was approved for the insurance but at a different premium, $950. The $450 quote was for prefered plus non-nicotine. At $950, my quote is for preferred non nicotine, i think.

I called the agent right away and she told me that my cholesterol was high and had high liver enzyme levels. Everything else is ok. I told her this sounded like a bait and switch. I think I'm in good (not great shape). I'm not overweight, don't smoke, don't drink, both my parents are still alive, siblings too, and I try to run every other day. (Possible neg=I'm Hispanic).

I'm pretty confident I'm not going to drop dead in the next 10-15 years since I see my doctor regularly and, in fact, she saw me a couple of days before the paramedical drew blood. Again, she said I was fine (low BP, too). I feel great (does that count).

I told the agent that I was not going to accept that quote. She mentioned I had a 30 day right of dispute and she was sending me a form to fill out. She said she was going to have an underwriter call me to discuss my test results.

I'm thinking I can get my doctor to corroborate my side of the story. What kind of options do I have? I'd like to make it uncomfortable for this company for pulling these kinds of tactics.

This was the lowest quote of all the companies, so perhaps they're a little shady. For all of you with insurance experience, what can I do to have this reversed? Should I go with another company?

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We've not had luck either with retaining the initial preferred plus rate. Though I believe our health is excellent. Seems like any tiny thing can get you knocked to another level. And they don't care a hoot about your labs or physicals on record with your doctor. And they ignore variables like a healthy marraige or pets or other factors proven to correlate with longevity. But it is their determination that counts.

You could try other companies. First maybe explore diet changes to address the cholesterol. And talk with your doc about the liver enzymes finding - that sounds odd given your good health otherwise - it could even be a lab error.

Good luck.

    Bookmark   June 12, 2006 at 3:57PM
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This happened to us several years ago, only we went to a persons house. Got turned down, we asked and you can get by law a copy of the medical report, including what lab did it. We did not follow thru as we moved out of the area, but now I wish we had. Please, take the report to your Dr, and disbute the information. This information can be reported to all insurance agencies, thru CAFE? not sure of name of orgizination,, but is registered with state of Calif. You could be refused insurance and not even now why? Tell them you feel the medical procedures were contaminated because they were not taken in a medical office, and who knows what they did after they left your home. Contact the state licensing board for insurance to see if they are licensed to sell in your state and make sure these records are deleted from your records. If you feel they raised the rates because of being Hispanic, YELL and SCREAM discrimination and file a complaint. Get all the informaion, agent's name, her boss's name, address of main office, etc. DO NOT let this screw up your records.

    Bookmark   June 12, 2006 at 5:45PM
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