Reader’s Question:

I have a had a few doctor’s visits with my COBRA in New Mexico. If it runs out, I plan to convert to an individual insurance. Will it reduce my premium if I do not reveal my history of claims? Do I have to undergo the normal application procedure like filling out a questionnaire and get checked for medical history?

Hannah

Albuquerque, NM

Thanks for asking, Hannah.

It is really up to the carrier of the insurance in New Mexico. Your entire medical history will be the basis of your premium rates. From this medical history verification process, the underwriter will be able to determine how much will be spent on your medical expenses in the future. And if you leave out any information about your medical conditions, you might be committing misrepresentation or fraud. The entire policy might me cancelled if your health card finds out about your medical history. This will count for insurance fraud. Fraud is when one knowingly lies to obtain some benefit which they are not entitled or denial of something which someone is entitled. It is definitely a crime in all 50 states.

Besides, your medical history can be pulled up by any life or health insurance company from any of your doctors since this will support the veracity of your medical history which is the basis of your insurance rates.

By all means, you have to disclose all the pertinent information about your health if you are to undergo any underwriting process with an insurance company. It is a matter of being candor about your medical condition. You don’t want to lose more money by concealing the truth.

Reader question:

Can I get the cheapest life insurance in New Mexico online?

Sally

Thanks for asking, Sally.

I wouldn’t say that you could get the cheapest life insurance in New Mexico online, but that doesn’t mean you can’t get cheap online life insurance. By its nature, most online life insurance is for no exam policies, which tend to cost more, but there are other factors that come in to selling life insurance online which cause prices to drop.

One way that you can get the cheapest life insurance online in New Mexico is by seeking out a company which sells policies online and offers a discount to those who buy them there. Many companies do this as an incentive for customers to shop online, and so it’s a win win situation. The company saves money, and so do you.

But the most tried and true way to get the cheapest life insurance in New Mexico online is just to pull up as many quotes as you possibly can. Get quotes, write them down, and compare them.

take care,

Fashun

Reader question:

How can I get out of smoker life insurance rates in New Mexico?

Perry

Well, Perry,

Smoker life insurance rates in New Mexico are drawn from two things: how you answer the smoking question on your application for life insurance coverage, and what the test results of your urine sample come back as for your medical exam. Now, if you get a no exam policy, then the company is pretty much relying on your honor, but beyond that it isn’t so clear.

It’s generally a bad idea to try to get out of paying smoker life insurance rates in New Mexico, since if you get caught you could lose you benefits, which is a pretty bad situation to be in when you’re already dead and your family was waiting on them. But it is possible. All you have to do is be careful and refrain from smoking for three days or more before it’s time to go in for your physical.

If you manage to keep up the charade for 2 years, then you’re off the hook. Your life insurance company is no longer able to cancel your policy or deny you benefits even if you do get caught. But it’s a risky game to play.

take care,

Fashun