Regarding health insurance contracts?

Question

I feel stupid asking this. The answer seems obvious. but, maybe I am wrong.

I am looking into buying new health insurance. I am self employed.

I had a salesman here, great plan, everything I want.

However, I asked to see the actual contract I would sign. Not a brochure. The contract. I am reasonably intelligent, I think I can read the fine print myself and understand what it says.

ANYWAY....

The salesman refuses to show me the contract. "FIrst you sign, and pay....then you see the contract. If you do not like the contract you can opt out within 10 days."

To me this is CRAZY. Who the h**l signs something and does not read it?

He claims everyone does it this way. "this way" does not even sound legal to me. "sign first, read later".

Is this the norm? As it stands he wants me to blindly sign a contract...something I am not so keen on doing.

I also suspect the "opt out in 10 days" is harder then it sounds.

Answer 1

U do have a 10 day Free Look Period, it's required of all Life and Health Policy Insurance. But I Would not buy from him sounds like a very pushy salesman.  

Answer 2

~~You are very wise to be suspicious of this  have never heard of ANY kind of contract that is ever signed before you are allowed to read it. This would raise every red flag there is for me. I would not sign that before reading, how do you know the 10 grace is even an option, cause he says so. No there is something truly wrong, and I don't even think this is legal. Insist on reading before you sign. You can always find another agent.~~

Answer 3

I tend to agree with you.  How about if you call the office of the company whose plan he is attempting to sell you and ask if this is normal practice ?  For some reason, I get a feeling that this salesman is telling you something which the actual contract does not provide.

I would not trust him out of my line of sight....:)

Answer 4

You sign the application stating that the information you give is correct, not a contract per se.  Once the policy is issued and any exclusions or riders are added they send the policy contract  for you to review and accept or not.  And you do have the ten days to cancel.  

We always kept a copy of the policy contract in the office for anyone who wanted to see it.  But because you do have the right to cancel and because the contract isn't complete until underwriting is done and any issues are resolved this is the way it's done.

Answer 5

First of all that is pretty much how it goes.  That's the point of the brochure.

Second if it's "nase" avoid it.  The reason I say that is who else would come visit you at your home.  Thirdly if they didn't show you multiple plans from muliple companies then avoid it.

Find a broker to help you find a plan.

http://www.InsurancePickle.com

But to answer your question that is the way it works.  An insurance contract is not binding on your part so you're not obligated to take it OR keep it.  The important information is in the brochure and they are registered documents and must contain alot of information.

Answer 6

I agree it's crazy. I sell insurance and the only contracts I have ever seen are the ones covering myself and family - after I buy the policy. They are surprisingly vague. The contracts are also unilateral, meaning that if there is a clause you don't like - too bad. Health insurance is highly regulated by the states, and the insurance company offers the contract with language that has been approved by the state. Take it or leave it as is.

The ten day thing is not hard, just write a letter including the policy number and date it.

Don

http://mtnhealthinsurance.com  

Answer 7

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