The world of medical technology never ceases to amaze. New and improved diagnostic studies, procedures, and lab tests are constantly being invented. As you can imagine, life insurance companies eagerly avail themselves of these tools. They want to make as thorough and accurate an assessment as possible of an applicant’s mortality. This is true for all ages of potential clients, and is especially true for seniors.
New Tests Mean New Hope for Seniors
I have seen verbal exercises employed to evaluate cognitive functioning. I have also seen blood tests performed to measure heart impairment. As insurance carriers keep coming up with these, I keep rooting them on. Why? Because I know that such deep knowledge could make an underwriter comfortable in offering a low rate. It could certainly give me a strong foundation for advocating hard for leniency.
Then again, such scrutiny may indicate that candidates are really not eligible for coverage at this time. It may even show that their health is not really as good as their doctors claim. Doctors tend to lapse into a “let’s see what happens” approach. On the other hand, life insurance underwriters have to put their money where their mouth is, and so tend to be highly scrupulous in their risk assessment. There have been many times when I have given a potential applicant news about their health and encouraged them to seek a second opinion. Then, when their condition has been stabilized, they can come back with the exact information I need to advocate once again for a low rate.
For Seniors, Knowledge is Power
When it comes to your health, knowledge can be power, and more knowledge can give you more power. This is especially true for seniors whose medical history can pose a number of underwriting challenges. The more underwriters know, the more opportunities they have to make favorable risk assessments.