The Underwriting Process Explained
When it comes to eligibility, a disability insurance policy is a financial services product that has to be purchased while you are still in good health. One cannot buy a policy after you have been diagnosed with an illness that is likely to result in a claim, or after you have suffered an accident that might interfere with your ability to work. The underwriting process is fairly extensive, and this page is designed to help you understand exactly what is going to happen when you fill out an application.
We realize that most people have some sort of medical history. It is extremely rare for us to see an application with a "No" answer to every medical question on the application. However:
- There are some medical histories that are most likely not going to be accepted like a recent cancer history, heart disease, or poorly controlled diabetes.
- There are also many histories or current conditions that may not result in a declination of coverage entirely but could be excluded from coverage—for example, a history of back pain or certain types of mental or nervous disorders.
- A third possible underwriting outcome regarding disability insurance eligibility is an increased rating on the policy for issues like being overweight.
Feel free to call us during the week with any questions about your ability to qualify for disability insurance at 888-513-2300. We will be happy to tell you what the most probable underwriting outcome will be for your policy.
When you are discussing the quote with your agent, your agent will ask you several questions to help them understand whether or not you will likely be approved for a policy. We have placed thousands of policies in-force for our clients over the years, we are very experienced in the underwriting process. If you have specific questions about your health history and your ability to get a policy, just ask your agent what they think. There is a good chance that we have dealt with it before and can give you an accurate expectation.
Our goal is to make sure you have a very clear expectation of what your policy is going to look like and cost at the end of the underwriting process. We try our best to make sure there are no surprises, and as long as you answer all of the questions in detail, we have a pretty good idea of what the company will do. We do not get to see the actual medical records, lab results, or prescription history like the underwriter does, so we can't guarantee you that a policy will be offered exactly as we think it will, but you will find we are fairly accurate with the expectations we set based on our experience.