All About The Life Insurance Medical Exam
Life insurance provides important protection for family members, and it is protection no one can afford to go without. Buying life insurance is the responsibility of everyone with a family to protect, and it is important for each individual to seek out the highest possible level of coverage for the lowest possible price.
In order to provide the best coverage and set the right price many life insurance companies will require their new applicants to undergo a thorough medical exam. The results of this medical exam will be used to set policy premiums and conditions, and it is important for anyone applying for life insurance for the first time to be prepared for this requirement.
In some cases even those who currently have life insurance may be required to undergo a medical exam. For instance the life insurance company may require a medical exam for policyholders who wish to significantly increase their levels of coverage. Anyone considering raising their life insurance benefit level should ask about this requirement. Some life insurance companies will require a medical exam anytime the level of benefits is raised, while others will require such an exam only in extraordinary circumstances.
No matter what the impetus for the exam, it is important for the applicant or policyholder to be prepared and to know what to expect. The life insurance company will typically subcontract out the medical exam to one or more medical providers. In some cases the life insurance company will give the proposed policyholder a list of medical professionals that can be used, while in other cases there will be only a single doctor assigned to the case. In either case the person applying for the life insurance policy will need to make an appointment and undergo the required medical tests.
In most cases the life insurance medical exam will be similar to a yearly physical. The applicant will typically be required to provide a blood sample, a urine sample and other samples as required. These samples will be used to test for common diseases, ailments and conditions. Applicants will also typically have their weight and height evaluated to assess obesity levels and help in the determination of overall health. It is important for all life insurance applicants to be prepared for this exam and to understand the reasons behind the decision.
After the examination has been completed the doctor in charge will prepare a report that is sent to the life insurance company. The life insurance applicant is also typically entitled to a copy of the report, but it is important to make that request at the time of the exam. After the results have been analyzed the life insurance agent should provide the applicant with the relevant information, as well as the proposed monthly premiums and any applicable exclusions. It is important for the applicant to review this paperwork carefully and ask questions if necessary. The life insurance agent should be able to answer any questions and provide the information required.
If there is no way you are taking a medical exam then consider a no-medical exam life insurance policy.