Finally, the investigation by my life insurance carrier, Standard Insurance, is over. It was determined that I was qualified for the policy and it will remain in place! ‘Why would it not be in place?’ you ask. Well, in my opinion, when you are diagnosed with lung cancer, an insurance company is going to look for any reason at all to drop you.
I purchased a life insurance policy through my employer in 1998. In December of 2010 SW and I found the perfect house to buy. Being one smart cookie, I increased my policy amount after this life event. January 2011 my policy was officially and significantly increased. May 2011 the cancer diagnosis came.
It was not until April 2012 when I became permanently disabled and the question was raised ‘had I been qualified for the policy increase back in January 2011?’ If I had cancer I would not have qualified for the policy increase. Standard Insurance requested medical records galore. I added in a copy of my house transaction to explain my side of the story.
Last week, I got a letter saying ‘indeed you did not have cancer in January, the policy will remain in place!‘
I was trying to not get worked up about the whole investigation. A friend who works in the industry told me that this was/is standard procedure. Still, I was bothered about the constant transmittals and phone calls. What if I was too ill to nag them? What if I would have died while under investigation? What a mess for SW to deal with. And would he have addressed it or would he just walk away? What happens to other people in this situation?
I am relived to have this policy securely in place. I know my beneficiaries would rather have me alive than the money. From my perspective, I get to continue to help them when I’m no longer here. It’s actually pretty cool. As disruptive as loosing me will be, I am able to mitigate the disturbance with little things like this policy.