Life Insurance Marketing Letters
Who should I contact to get term life insurance with lower monthly premiums?
Ok. Here’s my situation.
I recently submitted a request for term life and after sorting through the number of agents that called my house, I decided to go with an agent that works for one of there very strong A+ rated companies but also runs his own financial firm.
He came to my house and I answered questions and took blood tests,etc.
I received a letter from the insurance company that I had been accepted as standard+ due to information from my medical records . I guess something they found didn’t meet their underwriting requirements. By being in the standard+ class the monthly premiums are about $30-40 more a month.
I am a 32 year old in good health and weight. I am however on an anti-anxiety drug for panic attacks which I’ve had since high school.
My agent tells me he’s going to “shop the market”to see if any other companies will take me on in a better class. But he tells me he hasn’t gotten any calls.
Should I contact a company or independent broker and start all over?
First thing you need to do is have your agent call the insurance company to have them send a copy of your paramedical exam to determine exactly why the insurance company is “uprating” your policy. Due to privacy regulations they will not tell your agent and very likely will only send the report to your doctor.
Once you know what the specific issue is you are in a much better position to “shop around” because you will be able to tell your agent (or another agent) “I have this condition and am taking these medications will your company give me a preferred rating”.
Don’t get your hopes up though. Depending upon the health issue you are dealing with most company underwriters will not be offering you preferred rates.
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