Denied for disability insurance

[link2swim06]

I was denied for medical reasons for disability insurance.

 

Does anyone know of any decent policies that don't need medical underwriting?

[pulmdoc]

Your best bet is probably getting group disability insurance from your employer, unfortunately. Depending on the medical condition, it's possible to be denied from one insurer and accepted (probably with a rating) from another. Little harm in applying to other companies. They will almost certainly ask you if you've been denied and why, however.

[Antares]

Might you be eligible for a policy that would exclude coverage for the known medical condition(s)?

[artemis]

Antares wrote:

Might you be eligible for a policy that would exclude coverage for the known medical condition(s)?

Click to expand...

The problem with that approach is that those conditions are usually the ones that are most likely to actually leave you disabled (hence the insurance company's unwillingness to issue a policy).  Disability insurance that only covers black swans isn't really any better than going bare.

In addition to seeing what coverage you can get from your employer, OP, check out what policies might be available through your specialty organization.

[Renaldoc]

One thing to also keep in mind is that even some group policies have restrictions on preexisting conditions.

[Antares]

artemis wrote:

Antares wrote:

Might you be eligible for a policy that would exclude coverage for the known medical condition(s)?

Click to expand…

The problem with that approach is that those conditions are usually the ones that are most likely to actually leave you disabled (hence the insurance company’s unwillingness to issue a policy).  Disability insurance that only covers black swans isn’t really any better than going bare.

In addition to seeing what coverage you can get from your employer, OP, check out what policies might be available through your specialty organization.

Click to expand...

It would be better to get a comprehensive policy, but I have to disagree that one that doesn't cover the existing conditions isn't valuable. A dear friend of mine was denied coverage because of a psychiatric history, and later was in an accident that caused a brain injury. She is not only unable to practice, but is also impoverished. A very sad situation that she had tried unsuccessfully to prevent by applying for coverage.

[Vascular Doc]

Definitely check with other companies.   I developed condition in residency after setting up my first policy.  They wanted double my premium to insure through Guardian when I reached attending level and wanted bigger policy, and even then they would only pay benefits for 10 years if it was related to that condition.    I got a true own occupation full comprehensive policy through Ohio national with the best rating because they did not care about the condition.   Always pays to shop around.

[bjbanjo]

Ask for an exemption for this disability.  Then, sometimes, if no claims (5 years) are made, this clause is dropped.  I had a similar situation:  a Army related disability making disability insurance hard to get.  Since the VA would cover this, I didn't mind being exempted in my work disability policy.  As it turned out, I needed neither.  This is the kind of money spent you hope will never be needed.