Before you receive your final offer and can sign your policy, you must undergo a medical exam. The purpose of this test is obvious. First, they want to verify the information you provided on your application, and second, they want to know if you have a medical condition that you may not be aware of. This life insurance medical exam has a direct impact on your insurability and the final cost of your premiums.
In most cases, the insurance company pays for the medical exam and selects the paramedic to perform the exam. In some cases, a medical exam may not be necessary. This is usually the case for young people and/or policies with low coverage. In most cases, you can expect a paramedic to contact you to schedule your medical evaluation for your life insurance.
- 1 Life Insurance Medical Exam
- 2 Frequently Asked Questions (FAQs) about Life Insurance Medical Exam
Life Insurance Medical Exam
Interestingly, the more coverage you apply for and the type of policy you are looking for, the more complete your medical evaluation will be. Physical examination, urine sample, blood count, electrocardiogram, and radiography are common in the medical examination. You can also expect to be tested for HIV, high cholesterol, liver or kidney disease, diabetes, hepatitis, and immune disorders, as well as drug use and smoking.
After your verification, the results will be sent to the insurance company for verification. For this reason, it is important to provide as much information as possible about your application. If they find discrepancies between your application and the test results, they may deny you coverage or request a second test.
If you are denied coverage based on your medical exam, you have the right to obtain a copy of that life insurance medical exam for you or your doctor to review. If you think the test results are wrong, don’t hesitate to contact your insurance company and request a second medical exam.
After the insurance company has reviewed the results of your medical exams and approved them, they will calculate your premiums based on all the information, conditions, regulations, health risks, etc. provided and send you your final insurance quote for your review and acceptance.
How to Pass Life Insurance Medical Exam
- Schedule your life insurance medical exam in the morning.
- Don’t drink coffee or smoke beforehand.
- Avoid salty and fatty foods.
- Drink a lot of water.
- Avoid sports.
- Have a good night and sleep.
- Have important documents ready.
How to Apply Life Insurance Policies?
Applying for life insurance medical exam is a fairly simple process once you’ve decided what type of policy you want to buy and how much coverage you need. The first step in applying for life insurance is meeting with a qualified and trusted representative.
The agent will ask you to fill out an application that contains basic information about you. Name, address, date of birth, etc. You will be asked to provide information about your medical history and any medications you have taken. You will be asked about your immediate family medical history.
Another factor that most people don’t consider when applying for insurance is the applicant’s driver’s license. Negative entries on your ticket may result in you paying a higher prize.
You may be asked to have a physical exam, which usually consists of a blood test and a check of your height and weight. Most companies will send a certified professional to your home for the physical exam.
After you complete an application, you become an insurer whose job it is to review the application and your medical history and decide whether the insurance company will provide you with an insurance quote and the amount of coverage.
The application is simple and does not take much time. The most important thing to remember is to work with a qualified and trustworthy agent who will give you good informed advice and deliver you a suitable product.
Why and When You Need a Life Insurance Medical Exam?
You need a life insurance medical exam coverage, as the insurance company needs to know how much risk you’re taking for payment. Life insurance companies employ highly paid statistical experts called actuaries to determine these risk factors for them. The insurance company uses your mortality risk to decide what premiums to charge you and may also set limits on your sum insured based on this data.
Not all insurance plans or types of insurance require a medical examination. For example, this may not be necessary if you are young and healthy or want low coverage. If you apply for life insurance that is subject to mandatory testing, this will take place after the application has been submitted. Typically, the insurer’s paramedical testing partner will contact you to arrange a date and time for the test, or you will receive an email asking you to schedule the test online or by phone.
Men, for example, still die on average a few years earlier than women, and even if you are a very young man, all other things being equal, you will have to pay slightly higher premiums than a woman your age.
What Can I Expect at My Exam?
For the first part of the medical exam, you simply answer a few questions asked by the sales representative or online if you apply that way. First, the agent will make sure she is clear about how much life insurance coverage she wants. Next he has to answer: questions about her personal medical history; questions about your family medical history; how to contact your GP; depending on whether you smoke or not, use certain hard drugs and how much exercise you do.
Assuming you need the Part II medical exam, the insurance company will schedule a nurse or paramedic from a company that specializes in conducting this type of exam for life insurance companies (since different companies have different restrictions and underwriting standards). ) to come to your home or private office (or you can choose to go to one of your local clinics). This exam is usually scheduled within 48 hours or less of the time of application as your application cannot be processed without this information.
Now you are usually tested for: height and weight; blood pressure; resting heart rate; blood tests to assess nicotine levels, etc.; and a urinalysis. Everything you need will be brought to your home by the doctor.
This usually takes between 15 and 30 minutes. In special situations involving very high death benefits, age or pre-existing medical conditions identified in Part I, additional medical tests may be required, e.g. B. the need to walk on a treadmill. Your results will be kept confidential, except of course that they will be sent to the life insurance underwriting office.
They are also stored for future reference in a central Bureau of Medical Information database, which is accessed by nearly 500 life insurance companies across the country. You may request copies of the findings. You also don’t pay for your life insurance health check.
May I Get Life Insurance With No Medical Exam?
People have their own reasons for specifically looking for insurance without a medical exam. Some may have a medical condition that could make it difficult to obtain certain types of life insurance medical exam coverage. Others do not have a regular doctor. Or your health insurance may only cover expensive doctor visits and lab tests in medical emergencies. And still others avoid needles and physical exams for religious reasons or simply out of personal preference.
You’re probably thinking, “Life insurance without a medical exam that must be expensive.” But that is not the case. The truth is, the cost of excellent term life insurance can be as low, maybe even less, than the price of a cup of coffee a day. Think about what you’re paying for that mocha latte or frappuccino or double espresso at the corner cafe.
For less than that, you can ensure that your family receives hundreds of thousands of dollars in benefits when you die. That’s the money you need for all your daily, monthly and yearly expenses, and more. Right, even more! Because your family is responsible not only for your home mortgage or rental expenses, but also for car payments, credit card debt, groceries, and other expenses related to daily living and your children’s education. They are now responsible for their medical care, funeral and burial or cremation.
Frequently Asked Questions (FAQs) about Life Insurance Medical Exam
Which Are the Medical Conditions That Will Disqualify You From Life Insurance?
Anxiety and depression.
High blood pressure.
Can I Drink Soft Drinks Just Before Life Insurance Exam?
Try not to take any drinks, specially coffee and alcohol before life insurance exam plans.
Life Insurance Medical Exam.