Author Topic: Life insurances waiving medical exam requirements  (Read 5347 times)

Online ExGingi

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Re: Life insurances waiving medical exam requirements
« Reply #20 on: March 27, 2020, 02:46:17 PM »
Do you give them permission? What about HIPPA?
Sure you do. You sign a HIPAA form authorizing it.
I've been waiting over 5 years with bated breath for someone to say that!
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Re: Life insurances waiving medical exam requirements
« Reply #21 on: March 27, 2020, 02:51:19 PM »
wow, so a young diabetic, smoker, or obese person, can hop on now?
A young diabetic is probably on medications. They will go to the medical records and likely find out everything else.

The lack of physical doesn’t mean that the underwriting decisions change, it just means different tools are used. You are expected to answer questions truthfully.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline yos9694

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Re: Life insurances waiving medical exam requirements
« Reply #22 on: March 27, 2020, 03:21:36 PM »
wow, so a young diabetic, smoker, or obese person, can hop on now?

Always could. Smokers, diabetics, and obese people get life insurance every day. They just pay more than non-smoking skinny people who don't have diabetes, because their risk of dying is higher.

As ExGingi said, you still have to answer all the same questions, and you should never intentionally commit fraud.

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Re: Life insurances waiving medical exam requirements
« Reply #23 on: March 27, 2020, 04:06:57 PM »
I would imagine that someone who is not truthful on the application can end up getting denied benefits of caught.
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Offline ah giten

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Re: Life insurances waiving medical exam requirements
« Reply #24 on: March 27, 2020, 04:18:20 PM »
Always could. Smokers, diabetics, and obese people get life insurance every day. They just pay more than non-smoking skinny people who don't have diabetes, because their risk of dying is higher.

of course, was saying they can get in now for a lower price.

Online ExGingi

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Re: Life insurances waiving medical exam requirements
« Reply #25 on: March 27, 2020, 04:46:07 PM »
Always could. Smokers, diabetics, and obese people get life insurance every day. They just pay more than non-smoking skinny people who don't have diabetes, because their risk of dying is higher.

As ExGingi said, you still have to answer all the same questions, and you should never intentionally commit fraud.

-1
Diabetics and obese people can't always get insurance. If their situation is uncontrolled (diabetes with high A1C levels, or obesity beyond allowable ranges, or if they are all 3 - diabetic, obese smoker) they can get denied. 
« Last Edit: March 27, 2020, 04:54:19 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
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Re: Life insurances waiving medical exam requirements
« Reply #26 on: March 27, 2020, 04:53:19 PM »
I would imagine that someone who is not truthful on the application can end up getting denied benefits of caught.

In the case of life insurance, the insured isn't the one getting benefits (except in the case of a disability waiver, or LTC rider).

All states have 2 year contestability periods and suicide exclusions. Once the policy is in force for two years, insurance companies will usually not try to contest a claim, as the burden of proof is on them, and it's an uphill battle to legally prove intentional fraud.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline yos9694

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Re: Life insurances waiving medical exam requirements
« Reply #27 on: March 29, 2020, 09:31:54 AM »
-1
Diabetics and obese people can't always get insurance. If their situation is uncontrolled (diabetes with high A1C levels, or obesity beyond allowable ranges, or if they are all 3 - diabetic, obese smoker) they can get denied.

Those folks will be denied in this environment too. What are you suggesting?!

Offline AsherO

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Re: Life insurances waiving medical exam requirements
« Reply #28 on: March 29, 2020, 10:02:11 AM »
-1
Diabetics and obese people can't always get insurance. If their situation is uncontrolled (diabetes with high A1C levels, or obesity beyond allowable ranges, or if they are all 3 - diabetic, obese smoker) they can get denied.

No guaranteed issue anymore?
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Re: Life insurances waiving medical exam requirements
« Reply #29 on: March 29, 2020, 10:13:40 AM »
Those folks will be denied in this environment too. What are you suggesting?!

Not suggesting anything new. Just clarifying on the progression of the discussion, which started with
wow, so a young diabetic, smoker, or obese person, can hop on now?

To which you responded that

Always could. Smokers, diabetics, and obese people get life insurance every day. They just pay more than non-smoking skinny people who don't have diabetes, because their risk of dying is higher.

And I clarified that certain risks can't get insurance for any price.
I've been waiting over 5 years with bated breath for someone to say that!
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Re: Life insurances waiving medical exam requirements
« Reply #30 on: March 29, 2020, 10:14:47 AM »
No guaranteed issue anymore?
Whatever limited guaranteed issue insurance might have been available before, would still be available.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline ben6952

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Re: Life insurances waiving medical exam requirements
« Reply #31 on: March 29, 2020, 05:48:36 PM »
If one is looking for an agent in NY/NJ pm me. I’m meeting people via ZOOM at this time

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I've been waiting over 5 years with bated breath for someone to say that!
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Offline Zevwolf

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Re: Life insurances waiving medical exam requirements
« Reply #33 on: April 02, 2020, 10:50:52 PM »
Is haven life a reliable company for term life insurance?

Offline Yosel

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Re: Life insurances waiving medical exam requirements
« Reply #34 on: April 03, 2020, 12:02:52 AM »
Is haven life a reliable company for term life insurance?
i think its an offshoot of mass mutual,
You will be better off going with a broker, Price will be the same or better.
i had a negative experience with Heaven Life

Offline yos9694

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Re: Life insurances waiving medical exam requirements
« Reply #35 on: April 03, 2020, 08:25:59 AM »
Is haven life a reliable company for term life insurance?

Yes. It is wholly owned and guaranteed by MassMutual.

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Re: Life insurances waiving medical exam requirements
« Reply #36 on: April 03, 2020, 09:02:26 AM »
Yes. It is wholly owned and guaranteed by MassMutual.

But IINM policies issued by Haven Life are not convertible.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline yos9694

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Re: Life insurances waiving medical exam requirements
« Reply #37 on: April 03, 2020, 09:37:54 AM »
But IINM policies issued by Haven Life are not convertible.

That's true as far as I know as well. But generally speaking, their best class term prices are dirt cheap, and there's no way that could include a conversion cost component.