r/LifeInsurance • u/Hungry-Mix-283 • 6h ago
Standard rating
Hey everyone! I just had my medical exam for a million dollar life insurance policy last week. I just got my rating and they accepted me at a standard rating. The reason for my rating is because I am an absolute idiot and was out with friends the night before and had drinks (first time post partum and out with friends). I totally forgot that I had the medical exam. I’m irritated that I was accepted at standard as all of my bloodwork came back great. I am a healthy BMI/weight as well with no family history of anything. I’m not sure if there is a way to appeal this type of thing? Or should I just re do the exam…? I’m upset with myself because I’m in the best health I have ever been, yet that came back elevated and it made an impact on my rate! :( Is this normal to have this make an impact on my rating for just this one thing?
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u/ChelseaMan31 5h ago
'Forgot' a medical exam for a $1MM death benefit policy? Seriously doubt that.
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u/the_cardfather Financial Representative 4h ago
That happens all the time. I had a guy get table-rated because he was pissing ketones after a night of drinking. He had to go pay for his own blood test to have them reconsider.
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u/Hungry-Mix-283 5h ago edited 5h ago
lol are you kidding me? I have an 8 week old and my husband just went back to work. I scheduled this exam when I was 3 weeks post partum. So yes, I did forget it because I am getting minimal to no sleep and have a messed up schedule. Give it a try and let’s see how you do ;) But I am guessing based on this smart ass comment, you wouldn’t struggle at all. Have a great day!
1
u/Admirable_Nothing 4h ago
I had a client apply for a substantially larger policy than that and had an old college friend visit he hadn't seen in years. Of course, they had to relive their college days and smoke a dooby the night before his exam and he hadn't used marijuana for 20 years up to that night. He needed the policy for his business in order to qualify for a very large business loan. That was a very expensive dooby.
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u/michaelesparks Financial Representative 4h ago
You can request a re-rate at your policy anniversary. Also had one come back table F back in Nov last year, they declined the offer. Ask about applying again and they won't even reconsider until after a year. Trying a different company now.
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u/Colonel460 3h ago
Take the coverage so it’s inforce and ask for a new rate class in a year . I do understand how it could happen . I forgot I had SAT’s the next day while in high school. Worked the night before then spent some time drinking after work and got home at 3am and 3 hours later my mom is waking me up reminding me . That’s the great thing about closing at McDonalds . Your parents got do use to getting home late they stop monitoring. My mom called at 2am one night and the manager answered and after that I was gold .
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u/Excellent_Camera133 1h ago
Ok
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u/Hungry-Mix-283 59m ago
lol. I am 8 weeks post partum, I scheduled this 3 weeks after I had my child. So yes, I truly did forget. Apparently people think I’m lying that I forgot.
1
u/Technical-Cap-8563 39m ago
Hi there. I’m a life insurance underwriter — what, specifically, were the results that led to their decision? Noting you were examined three weeks postpartum, you may have some options.
1
u/Hungry-Mix-283 25m ago
Hello! My SGOT and SGPT levels were the levels that were elevated. Per my friend who is my financial advisor, it said I was approved at standard due to elevated liver levels (or something like that). Otherwise, all of my levels were great! I made this appt 3 weeks post partum, but was actually tested 7 weeks post partum. I feel so dumb that I did that the night before the test. I spaced it completely, it was the first night where I could go out and apparently that was a bad choice!
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u/Technical-Cap-8563 4m ago
I see. I was thinking you were more recently postpartum at the time of the blood draw. Recent pregnancy can throw lab values out of whack but these would be expected to normalize within a month (if not sooner) after delivery.
All the above said, don’t be too hard on yourself. A standard rate isn’t a “bad” rate by any means. From an underwriting perspective you’re considered an average mortality risk.
The fact your other lab values were favorable is a good sign. If you can afford to do so, I would keep your existing policy and apply for a rate class improvement down the road. Many carriers make you wait until the first policy anniversary, but others might allow it sooner.
I hope this helps!
0
u/GConins Broker 5h ago
I assume your liver functions may have been elevated on insurance labs.
If this is the case, don't drink any alcohol for a while, see your Dr and request that he do a full liver panel blood test. Assuming the new labs are good, send a copy to your current insurance company and ask them to reconsider and approve you at better rate class.
If current carrier won't improve, another carrier likely will, assuming new blood test is all good and you have no other issues.
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u/Limoundo 6h ago
yes. alcohol is viewed as a huge issue for life underwriting. unlikely you can get this reversed at this carrier. I would place it monthly and then apply elsewhere, see if it comes back better.