Understanding Life Insurance Medical Exams
When applying for life insurance, a medical exam is often a crucial step in the process. Why would a life insurance company ask you to complete a medical exam? Well, your overall health plays a significant role in determining your life insurance rate, providing your insurance company with a clear understanding of the risk they are taking on by insuring you.
Why is a medical exam needed?
Insurance companies would not be in business long if they couldn’t accurately estimate the likelihood of you filing a claim. Life insurance medical exams provide insurance companies with valuable insights into your health, medical history, and risk factors. In turn, the life insurance company uses the results from your medical assessment to determine an appropriate rate for your life insurance policy.
What to expect during the medical exam
Life insurance medical exams are usually administered by a professional medical worker and typically consist of a health questionnaire and a physical exam. The exam is typically conducted at a medical facility or office and shouldn’t take much longer than a routine appointment.
1. Health questionnaire
Be prepared to answer questions regarding your medical history, your lifestyle habits, and more.
2. Physical exam
A medical professional will likely record your vitals, and you might be asked to provide a urine sample and/or blood sample. These tests check for various health indicators and the presence of any substances. Depending on your age and policy type, an EKG (electrocardiogram) may also be performed to check your heart health.
How to Prepare for a Life Insurance medical exam
While you can’t “cheat” a health exam, there are a few things you can do to ensure you get the most accurate results.
- Get a good night’s rest the night before
- Drink plenty of water leading up to the exam; this will help if you need to provide a urine and/or blood sample
- Have your photo ID, a list of your current medications, and anything else your test provider says you need
Does every Life Insurance policy require a medical exam?
Not every life insurance policy requires a medical exam; it depends on the type of life insurance and your age. For smaller life insurance policy amounts for younger customers, a medical exam may not be required. However, your insurance company can still request one.
Will you see your medical exam results?
The results of your medical exam aren’t immediately available to you, but you do have a right to access them. You can request the results to be sent to your primary care doctor, and he or she can share them with you.
The best time to get Life Insurance is now
Life insurance is an important piece to ensuring your loved ones are taken care of in the unlikely event that the worst happens. Life is full of uncertainties, and getting life insurance today means your loved ones are protected from financial hardship in the future. Your premium rate is likely to be lower when you’re young and healthy, so it’s best to secure coverage early.
To learn more about life insurance, contact a local Alfa® agent.
All coverages are subject to deductibles and policy limits. This is not an insurance policy. It is intended only to provide a general description of Alfa Insurance® and/or its product lines and services. An actual policy contains the specific details of the deductibles, coverages, conditions and exclusions. Your Alfa® agent can explain the policy and benefits and answer any questions you may have before you buy.