What Is Postpone? Definition | Epic Life Glossary

Why it matters

The carrier may ask the applicant to reapply after a set time, such as six months after treatment. This differs from a decline, which is a no for now. During the wait, another carrier or a guaranteed issue plan might help. Keep records of the date so you can reapply.

Source: naic.org

Related terms

Decline: A decline is a carrier's decision not to offer life insurance to an applicant after underwriting. The carrier judges the risk too high for the plan applied for.
Underwriting: Underwriting is the process a carrier uses to review an application, judge the risk, and decide whether to offer coverage and at what price. It looks at health, age, habits, and history.
Attending Physician Statement (APS) (APS): An attending physician statement is a report or set of medical records that a carrier requests from your doctor so it can review your health history during underwriting.
Health Questions (Knock-Out Questions): Health questions are the application questions a carrier asks about medical history. Knock-out questions are the ones where a yes answer makes the applicant ineligible for that plan.
Guaranteed Issue Life Insurance: Guaranteed issue life insurance is coverage that accepts applicants without health questions or a medical exam. Approval is guaranteed within the age limits, but the face amount is small and a waiting period usually applies.

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