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Imagine, each and every day, sitting in a room with a pile of medical records to review. Imagine that you have to make a medical underwriting decision based on your company’s criteria. Imagine having to evaluate each applicant’s medical history, factoring in their height, weight, medications, diagnoses, doctors’ visits and their previous compliance. Medical underwriters do this every day and if you want to be prepared for your life insurance application interview, you should do this too. The better the story, the better the rating, the better your rates.  Doctors’ Visits Record your doctors’ visits, including the name, address and phone number of each doctor. Note the date, the reason of the visit, the diagnosis and any follow-up. Be sure to include medications prescribed and your compliance with the prescription. Lab Report Any lab reports within one year are useful for your insurance agent, leaving no surprises. Doctors Notes If you have a medical history that needs to be verified, these notes will be requested and reviewed. Medications Prescribed Doctors very often will prescribe a medication and disclose it in their notes. Medications Taken Very often people fill prescriptions but don’t comply with the instructions. Therefore, the insurance company does not know if you even needed medication or what the result was. Medications Discontinued Unless you report back to your doctor and they note that you discontinued the medical uses, your underwriter will assume that you completed the medication as prescribed. Conclusion By not properly disclosing these facts when applying for insurance, your underwriter may determine that you are trying to hide something and not give you the rating you deserve. You may end up paying more for your policy as a result. Many consumers overpay for life insurance because they did not get the best underwriting consideration due to inaccurate, incomplete and misleading information. It’s best to compile honest and thorough documentation of your medical history. Howard Wolkowitz is a financial author, educator and fiercely independent life insurance broker. You can visit LifeInsureAssure.com and go to his quote engine to see for yourself in seconds how inexpensive term life to age 85 is. If you want to speak with Howard, call 954-558-3673 or email him at [email protected]. Stop overpaying for your current life insurance. If you have any questions or need help with creating your 5-year medical history storyboard, I am just a phone call away: 954-558-3673. LifeInsureAssure.com.
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