After selecting a life insurance company and submitting your application, receiving a rejection can be disheartening. While a denied application is more common than people openly discuss, it doesn’t mean your life insurance goals are out of reach. So, what happens next?
Can You Get Life Insurance After a Denied Application?
Yes, you can. Life insurance companies in Grand Rapids, MI, are required to provide a formal letter explaining why your application was denied. Common reasons for rejection include:
- Chronic or life-threatening medical conditions
- A high-risk career or lifestyle
- Poor credit history
- Significant debt
- Bankruptcy
- Nontraditional primary income (e.g., freelance work, influencer activities, selling items online)
- Criminal or poor driving record
- Dishonest information on the application
- Smoking or excessive alcohol consumption
What Are Your Options?
If you believe the denial was unfair, you can appeal or take legal action against the carrier. Otherwise, you can reapply for life insurance with the same provider by choosing a different policy or apply with a different provider. For legal action, consult an insurance lawyer who can review the denial letter and advise you on whether an appeal or lawsuit is warranted.
If you choose to reapply, it’s important to address the reasons for rejection first. For example:
- Financial concerns: Resolving debt, improving credit, or recovering from bankruptcy may take six to 18 months.
- Health-related issues: Demonstrating improvement in chronic conditions, weight loss, or quitting smoking and drinking may require several months to years.
- Risky jobs or activities: Switching to a low-risk career or lifestyle can yield immediate results.
- Application dishonesty: Correcting inaccuracies in your application can also lead to faster approval.
- Criminal or driving history: Eligibility varies by carrier and may require additional time.
After a rejection, visit Dalessandro Agency Inc. in the Grand Rapids, MI, area. We’ll review your situation and discuss your options to secure life insurance. With access to multiple partner carriers, we’re confident we can help you find a policy that works for you. For more information, contact Dalessandro Agency Inc. today.