Life Insurance Medical Exam
If you are applying for a life insurance plan, chances are, you will be asked to take a medical examination.
A life insurance medical exam is just one of the requirements most comprehensive insurance policies need from the prospective policyholders. Insurance companies use the results from your medical exam as additional inputs and factor them in gauging your eligibility for a particular policy.
However, medical exams are not required all the time. Basically, it depends on the type of insurance solution that you are gunning for. There are three kinds of insurance policies: guaranteed, underwritten and simplified.
A guaranteed policy neither requires you to take an exam or answer questions; you automatically get provided with the plan without any requirement for your personal details. An underwritten coverage entails the customer to be subjected to a medical examination and to be asked about his personal and medical history. A simplified insurance plan requires the customer to answer some questions regarding medical background but no physical examination is required.
But what is the effect of taking a life insurance medical exam?
If you are one of those people who have no qualms about taking the medical exam, and acing it, then you will have the opportunity to be the recipient of the plan that you have been angling for without any worries. The results of the exam validate your good health and ensure that you will have access to the plans you want and at the best and competitive prices, too.
One the other hand, although simplified and guaranteed plans are available to you, they more likely have a higher premium because the insurance company may be of the opinion that your reluctance to participate in a medical exam simply means that there is something about you (or your health) that you do not want to come out. You will still have the opportunity to enjoy the protection that you want but the cost may be considerably higher.
So if you do not have any health-related issues at all, it is better for you to undergo a physical exam in order to optimize the range of products that is available to you.
Once you have decided to go for the exam, the insurance company will arrange for an independent and licensed paramedical who will perform the medical examination on you and who will also be the one to interview you regarding your medical history and background – at your convenient schedule and in the comfort of your own home.
The paramedical brings all the required kits that at no costs because the bill will be footed by the insurance firm. A standard medical exam includes getting your height and weight, pulse rate, blood pressure, urine and blood samples and other items that depend on the particular life insurance company.
When preparing for your medical exam, ensure that you have a good night’s sleep just before your exam; refrain from imbibing alcoholic beverages the day before your big event; and avoid taking in too much salty or sweet foods. Most important, do not engage in activities that can tire you out, for you must be energetic and prepared for the tests that will be performed during the visit.
Your test results will basically provide two important pieces of information to the insurance providers – validation of your good health and responses to the interview, and a peek into your current medical condition.
If you declared yourself as completely healthy and your results show nicotine contents or some other abnormalities in your system, then the insurance company can decide to give you the coverage you wanted but at a higher premium.
However, perfect health will ensure that you will get your coverage without any problems whatsoever. If you get negative results, you will probably be denied and you may have to look for another company that carries higher risks at higher premiums.
If you are truly serious in your desire to have the best coverage that insurance can provide at lower premiums, why not try to undergo a medical exam? At least, you will get a shot at more comprehensive plan features that are not offered to individuals who are not open to being examined by a paramedical.