Now before we get into the specifics of what life insurance medical exams test for we would like to address the exam itself. The process of obtaining life insurance consists of first choosing a product type. If you choose a life insurance product that requires a medical exam then the next step is for an examiner to come to your home and conduct an exam. You can avoid having to take an exam by choosing no exam term or universal life insurance.
Not sure if no exam life insurance is right for you? Read our article on the advantages of no exam versus exam life insurance. You can get up to a one million dollar no exam life insurance policy if you have superior health. For addition information regarding which insurance companies we feel are currently offering the best no medical life insurance options, please visit our article: Top 10 No Medical Life Insurance Companies.
If you choose to take an exam the examiner will meet you at home, your place of business, or you can come by the exam office. The exam consists of the examiner taking your height and weight, blood pressure, urine sample and blood sample. At times an EKG will also be required for older clients or for clients looking to get a large amount of life insurance coverage. The examiner will also inquire into who your primary care physician is as well as any other doctors you have seen recently. Finally, since the life
insurance company will check you motor vehicle record the examiner will request your see driver’s license. Check out our 6 tips to acing the life insurance medical exam for more.
Upon completion of your exam the examiner may have some additional application questions to go over with you. The examiner will ask questions about your health and lifestyle which will probably be a repeat of what your agent already asked you. One reason they do this is to be thorough but another reason this is done is to look for inconsistencies. Inconsistent answers raise a red flag with the life insurance underwriter who may request additional information such as physician statements.
All in all an exam will take between 15-30 minutes and between 30-45 minutes if an EKG is required (typically for clients 60 and up and for those qualifying for larger face amounts).
Once your exam is completed your exam results will typically be available for personal review within the next 7-14 days.
Your lab specimens are sent to a lab company which prepares your labs for the life insurance underwriter. The underwriter will review your life insurance laboratory results and offer you a rate class based on the results of your labs. See our Life Insurance 101 page for more on rate classes .
You policy will then be sent to you for review as well as any additional delivery requirements.
So with that said, What Do Life Insurance Medical Exams Test For?