|
YOU HAVE BEEN APPROVED!!!
The stamp of approval for your policy will take anywhere from one day to six weeks; depending upon your medical situation, the requested effective date, and which insurance company you applied. You will usually get the policy from the insurance company in the mail, along with your insurance cards and other paperwork. If you have a good agent they will usually call you to explain any conditions that the insurance company has put on the policy.
STATEMENT - I just received my policy but the insurance company put a rider on my (state health condition here). Exactly what is a rider?
ANSWER - A rider, sometimes called a waiver, means that the insurance company will not pay any claims concerning that condition. Riders are either permanent or for a certain length of time, usually one or two years.
STATEMENT - I just got the condition in my knee repaired, can we get the rider removed?
ANSWER - Yes, sometimes riders can be removed earlier than scheduled if your health condition improves or is repaired.
Some insurance companies are now starting to place a separate and often higher deductible for certain conditions. For example, you have a policy with a $2000 deductible but you also have a $3000 deductible for your knee condition. If you have to go to the hospital for anything concerning your knee you will have the $3000 deductible to pay, then if you have to go for anything else you still have the $2000 deductible.
A good agent will keep in touch after the sale. They can also answer many questions you may have about your policy after it has been placed in effect; however, some questions have to go directly to the insurance company because of privacy laws.
|
