Author Topic: Life insurances waiving medical exam requirements  (Read 1655 times)

Offline ExGingi

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Re: Life insurances waiving medical exam requirements
« Reply #15 on: March 27, 2020, 01:45:16 PM »
Whether or not the requirements are easier/better now is not the main point. If you aren't properly insured then I certainly hope this pandemic is enough of a kick in the rear to motivate you to get coverage. Fortunately it seems that it's still easy (or maybe slightly easier) to get life insurance today despite the pandemic. Like every type of insurance, you need to buy it before you need it.

No less important is Individual Disability Insurance. And while those policies usually come with a 90 day elimination period, that elimination period might be waived in cases of presumptive disability.
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Re: Life insurances waiving medical exam requirements
« Reply #16 on: March 27, 2020, 01:50:25 PM »
wow, so a young diabetic, smoker, or obese person, can hop on now?

Offline CountValentine

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Re: Life insurances waiving medical exam requirements
« Reply #17 on: March 27, 2020, 01:54:20 PM »
They will see what medication you are taking, which Dr prescribed, and date.
Do you give them permission? What about HIPPA?
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Offline Lou Bob

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Re: Life insurances waiving medical exam requirements
« Reply #18 on: March 27, 2020, 01:54:56 PM »
wow, so a young diabetic, smoker, or obese person, can hop on now?
if any of these are on record somewhere, there's a good chance it will be found.
Always use an Amex, you'll thank me one day.

Offline Lou Bob

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Re: Life insurances waiving medical exam requirements
« Reply #19 on: March 27, 2020, 01:55:26 PM »
Do you give them permission? What about HIPPA?
you sign a HIPAA form giving them permission.
Always use an Amex, you'll thank me one day.

Offline 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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Offline ExGingi

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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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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.
Just because things turned out a certain way doesn't mean you were right.

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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.

Offline 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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Offline ExGingi

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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!
-- Dan

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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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Offline ExGingi

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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!
-- Dan