by lifeagent911 » Tue Dec 30, 2008 03:20 am
This is worth it weight in gold. I suggest that you get your clients to sign it. I can't tell you how many times, it have help the agent, when a client lied on the application.
Applicant's Statement of Truth and Acknowledgement
I hereby acknowledge that all my answers given on application(s) for life, long term care, cancer and/or health insurance today, ___________________2009 are true and complete to the best of my belief and knowledge.
I will review the application(s) completely to make sure all answers are correct and complete before signing such application(s).
I fully understand that an insurance company can later rescind a policy or deny/reduce a claim/benefit due to my application answers that were not knowingly truthful in fact, misrepresented, or lacked material information known by me. This information includes, but is not limited to, my current and past medical history as well s any tobacco usage.
Furthermore, I will not hold you, my agent, responsible in any manner whatsoever should a company later rescind a policy or deny/reduce a claim/benefit for these reasons.
________________________________
Applicant/Owner
__________________________
Agent
___________________________
Witness/Beneficiary (if available)
This form should be retained by the agent.
A copy may also be given to the applicant/owner.
Applicant's Statement of Truth and Acknowledgement
I hereby acknowledge that all my answers given on application(s) for life, long term care, cancer and/or health insurance today, ___________________2009 are true and complete to the best of my belief and knowledge.
I will review the application(s) completely to make sure all answers are correct and complete before signing such application(s).
I fully understand that an insurance company can later rescind a policy or deny/reduce a claim/benefit due to my application answers that were not knowingly truthful in fact, misrepresented, or lacked material information known by me. This information includes, but is not limited to, my current and past medical history as well s any tobacco usage.
Furthermore, I will not hold you, my agent, responsible in any manner whatsoever should a company later rescind a policy or deny/reduce a claim/benefit for these reasons.
________________________________
Applicant/Owner
__________________________
Agent
___________________________
Witness/Beneficiary (if available)
This form should be retained by the agent.
A copy may also be given to the applicant/owner.
Posted: Sun Jan 11, 2009 07:04 pm Post Subject:
Wow, seems like we have several conversations going on at once here, so I want to get back to the "form".
I agree with someone, I think Gary, who said they would not sign the form if it was presented to him. I would neither sign it nor use it in my business.
Since it has not been approved for use by any state insurance department, I just don't think it would hold up in a court of law, if that became necessary. If you actually have the applicant sign the insurance application, why would you personally require the additional form.
As far as E&O, an insurance agent who does not carry Professional Liability insurance is just playing Russian (You know what the word should be, the spam filter in this community views it as a "bad" word. ???????)
Someone asked a question about a perfectly healthy person buying life insurance and later finding out that he/she had some disease. This situation would obviously fall into the "contestible" period of the life insurance policy (normally 2 years). After the 2 year contestible period, the person would be fully insured.
Keep in mind here, some insurance companies issue a life insurance policy with little or no medical underwriting up front, but when the insured dies, the underwriting process begins. If the insurance company finds any medical condition that would have prevented the policy being issued, there will be a return of all premiums paid and that's the end of it.
Just because a person has never gone to the doctor for an illness, does not mean that he/she shouldn't have. Most "pre-existing" clauses in insurance policies state, and I am paraphrasing here, "a condition for which a reasonable person should have sought medical treatment".
So let me ask you this Gary....If Joe John worked and had coverage with his employer and developed (and subsequently died) of HIV let's say ten years after beginning his employment (and health coverage) then that health carrier could not deny those expenses right?
Maybe. Why and how did this person contract the HIV virus? Was he a drug user? Did his mother or father carry the HIV virus? This question is just not that simple.
If you lost your coverage due to your employer going belly up or whatever that's when the cobra thing becomes an option...is that right? and that would have nothing to do with hipaa right? or wrong?
Both could possibly apply in this situation. The COBRA coverage might be available for the entire cost of the insurance, including the premium the employer was paying.
If the employee had "credible coverage", under HIPPA, he could possibly purchase an individual health insurance policy without any pre-existing condition exclusion.
Posted: Sun Jan 11, 2009 07:06 pm Post Subject:
OK, I'm out of here - twice in one day is just too much! :oops:
Posted: Sun Jan 11, 2009 07:14 pm Post Subject:
twice in one day is just too much!
ah dude...forget to log in again? I hate when I do that! :xWhy and how did this person contract the HIV virus? Was he a drug user? Did his mother or father carry the HIV virus? This question is just not that simple.
What on earth would the way they contracted aids/hiv have to do with acceptance or denial of a claim? :? seriously I don't understand that maze...is there some policy language that excludes illnesses that resulted from unprotected sex? or illegal drug use? what about hep.c (or a,b,d either) ? or the clap? (i'm not playin' when i say i don't know much at all about heath/life ins :wink: :oops: )If the employee had "credible coverage", under HIPPA, he could possibly purchase an individual health insurance policy without any pre-existing condition exclusion
THAT is really good to know given the economy....(as i said I don't know nuttin' about health ins. really)....Posted: Sun Jan 11, 2009 07:38 pm Post Subject:
First of all, I am very proud to say - I LOGGED IN!! :lol:
Now to the question . . .
What on earth would the way they contracted aids/hiv have to do with acceptance or denial of a claim? seriously I don't understand that maze...is there some policy language that excludes illnesses that resulted from unprotected sex? or illegal drug use? what about hep.c (or a,b,d either) ? or the clap?
Let's suppose you apply for a life insurance policy and on the application you state that you "do not now" or "never have used" illegal drugs. The life insurance policy is issued and everything is just fine.
One, two years from now, you contract the HIV virus as a result of your earlier experimentation with drugs of some kind. You actually provided false information on the application and the claim would more than likely be denied.
That's just one example, there could be others.
Posted: Sun Jan 11, 2009 07:42 pm Post Subject:
ok, got cha' (also proud of you for logging in... :wink: ).... same thing only the 'begins' using drugs, five years after the policy issued we're good right?
Posted: Mon Jan 12, 2009 02:27 am Post Subject: insurance
From what I have read, in the PREVIOUS posts, it was stated ( paraprasing here..) that 'Life Insurance has nothing to do with the HIPAA Law.'......that statement was NOT true. Life Insurance has ALOT to do with HIPAA...in THIS state ( PA) anyway....depending on the 'case'. As I CONTINUE to say, I work with one of these MOST difficult 'cases'.
Posted: Mon Jan 12, 2009 06:52 am Post Subject:
From what I have read, in the PREVIOUS posts, it was stated ( paraprasing here..) that 'Life Insurance has nothing to do with the HIPAA Law.'.
Sorry, but i couldn't find where it is written that the life policies have nothing to do with the HIPAA laws, rather I seemed that the insurers have to abide by the HIPAA regulations and can't misuse or divulge unauthorised information on the patients health to a third party.
SD, this discussion is confusing me even more. I'm really curious to know what and what not is allowed under the HIPAA laws. Can you please present the case studies that you are talking about where the insurer was forced to meet the promises when the insured died for AIDS. Since this disease is contaminating very fast, this resource would help many in distress who can't find suitable coverage for their health condition.
Posted: Mon Jan 12, 2009 09:09 am Post Subject:
SD..our friend lifeagent911 had expressed his opinion regarding the disclosure initially wherein he'd clearly stated how hipaa recognizes the patient's right to own some private information. On the same note he'd also shared with us how a form would be offered to the applicant seeking his permission to access his mib/rx.
So, I guess this gives us a clear picture of what it actually is - either the applicant is gonna let them access or simply forget the much needed coverage.
Posted: Mon Jan 12, 2009 10:33 am Post Subject:
So, I guess this gives us a clear picture of what it actually is - either the applicant is gonna let them access or simply forget the much needed coverage.
Quite so and the insurer are not only looking at the medical record of the applicants bur are also checking with their credit history. Now, if we assume that the insurers are no longer allowed to underwrite the policy holders based on their health conditions, we are required to prohibit them from viewing the credit report even before, since life risks have nothing to do with your credit scores.
~Jeremy
Posted: Mon Jan 12, 2009 12:11 pm Post Subject:
sdchargersfan wrote:
From what I have read, in the PREVIOUS posts, it was stated ( paraprasing here..) that 'Life Insurance has nothing to do with the HIPAA Law.'......that statement was NOT true. Life Insurance has ALOT to do with HIPAA...in THIS state ( PA) anyway....depending on the 'case'. As I CONTINUE to say, I work with one of these MOST difficult 'cases'.
SD' for about the 6th time.
Please provide the link from a credible source that supports your understanding of HIPAA.
Please provide the link and legal information that supports your statement from page one of this thread:
A friend of mine has a 'pre-existing' Medical condition, that is 'covered' under the HIPAA Law. 'His' Insurance company refused to sell him Life Insurance if he did not sign a similar form ('not responsible for...). His Mother was POA. When my friend passed away, his mother sued the Insurance company and won.
This is a very simple and straightforward request that you should have no problem with unless there isn't any such provision contained within HIPAA.
SHOW-ME where you are getting your information from???
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