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Re-Entry Or Re-Qualification - Can It Help You Or Hurt You?


Re-entry or Re-qualification is an option available to policyholders at the end of their initial rate guarantee period. At that time, the insured may, at their option, re-apply for a new low rate guarantee. This means the insured "re-opens" their medical file for review as though they were applying for a policy for the very first time.

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If approved by the insurer, a new level rate guarantee period begins. This option may be offered one time or several times by an insurance company. Read the contract carefully. If a policyholder chooses not to apply for re-entry (or cannot qualify), there's a high probability that their premiums will increase substantially each year after the rate guarantee period expires. At this point you may be locked into a contract, you can't afford. This is why it is important to initially buy coverage for the time period you need, rather than counting on potentially re-qualifying or re-entering.

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Long-Winded Version

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