Underwriting in the life insurance process is unequivocally on the side of the consumer. The process is highly favored for your entire life. I often promote this process to potential clients who may have insurance with their employers. I totally respect that benefit, but it does not give the full story about your medical reality. Many clients will forgo the underwriting until seasoned years. In most cases, that is the wrong time to start the underwriting process. Moving forward:
The reason why life insurance companies and doctors have competing views on medical impairments is that each evaluates your health based on different objectives. Life insurance companies look at an individual’s overall life expectancy while doctors normally treat medical conditions by managing symptoms. Furthermore, life insurance underwriting involves making future decisions about an individual’s risk level based a current “snapshot” of your health while medical doctors have the luxury of continuous evaluation and treatment based on ongoing health changes. Life Insurance companies have only one chance to get it right and will therefore be much more conservative when assessing your risk level. Finally, while a specific impairment may pose no immediate threat in your doctor’s opinion, life insurance companies consider every kind of health condition as being a potential increased risk.
Now, not every underwriting process is a perfect process. Underwriters can make a mistake. Their job is to assess hundreds of medical records daily, but you can bet your last dollar that 99% of these processes are accurate. So, manage your health well. Get insured as early as you can. The younger you are, the better you are. The more physically fit you are, the better rate class you will receive.