Life insurance medical exams are quick, easy, and convenient and shouldn't scare you away from applying for insurance. The medical exam is used to assess your current health to give you an accurate rate. You don't pay for a life insurance medical exam, and policies may be much more expensive without them. Life insurance will never be cheaper than it is today. Lock in your rate with Policygenius »
The process of getting life insurance is fairly simple and straightforward. It starts with a detailed application answering questions about your health and lifestyle. But before most insurance companies will issue a new policy, they require you to go through a brief medical exam. The life insurance medical exam is a quick and easy process. I had one about six years ago when signing up for my own life insurance, and it was a convenient and mostly painless process. If you are considering new life insurance, here's what you should know about the life insurance medical exam. They go over your application and medical history Most insurance companies will send a nurse to your home or work for the medical exam. There's no trip to a doctor's office or medical facility. My exam took less than an hour on a Sunday morning at my home. When the nurse arrived, she went over just about every question I had already answered on my application for accuracy. That included questions about past hospitalizations, any ongoing medical conditions, and my family's medical history. Even if you're tempted to tell a little fib, make sure you are fully honest and transparent when applying for any kind of insurance. Lying on an application is considered fraud. In addition to losing your policy, it's against the law. Insurance fraud can lead to fines and jail time, so tell the whole truth throughout.
Plan on giving blood and urine samples The application is pretty thorough, but the insurer won't just take your word for every answer. To ensure their bases are covered, the nurse will generally take your vital signs as well as a blood and urine sample. Vital signs like your pulse, blood pressure, height, and weight can help insurers predict your risk of heart disease. The blood test looks at things like cholesterol, blood sugar, and signs of drug use. The urine test looks for things like tobacco and drug use, and healthy kidney and liver function. Life insurance companies are not out to catch you in a lie. They are just doing their due diligence to ensure they assign you to the right risk and rate category when offering you a new policy. Applications are rarely turned down. They just want to fully understand your risk of dying before the policy's end date. Your medical exam can save you money A small, growing group of insurers is willing to issue life insurance policies to healthy people without a medical exam. However, in many cases, the life insurance you'll find without a medical exam is called "guaranteed issue." As the name implies, they guarantee you will get a policy regardless of health and lifestyle. Guaranteed issue policies take people with advanced cancer, heart disease, and dangerous living conditions. A medical exam proves you are healthier than the riskiest applicants and saves you money on your insurance. Don't think of a medical exam as something that drives up your cost. It proves you belong in a healthy rate category. One or two health factors alone won't make life insurance much more expensive in many cases. You may still qualify for the best rates or a category for people just below the top. Don't let a medical exam scare you away from life insurance Life insurance medical exams are fast and easy. They come right to you at a convenient time and place to help you qualify for the best possible rates. Aside from a small pinch when they draw your blood sample, the entire process is painless. The cost of life insurance tends to go up with age, so don't delay if you plan to sign up for life insurance in the future. Your best rates will probably come today. Procrastinating can be a very expensive mistake. If you have a family that depends on your income, it's a smart idea to sign up for life insurance today. Lock in your lowest life insurance rate today with help from Policygenius »
Still shopping for life insurance? Get quotes from these Business Insider partners: Get quotes from Policygenius » Get quotes from Fabric » Get quotes from Haven Life » Get quotes from Bestow » Join the conversation about this story » NOW WATCH: What it's like to ride the world's longest flight
More like this (3)
It’s easy to get confused about whether you should disclose cannabis use to a life insurer....It’s easy to get confused about whether you should disclose cannabis use to a life insurer. Possessing cannabis—a schedule 1 drug—is a federal offense, and yet it’s legal in many states. Will your insurer tattle on you to the government for using it? Will your insurance get denied?Read more...
According to data from S&P Global, the average life insurance policy's premium is $44 per...According to data from S&P Global, the average life insurance policy's premium is $44 per month. But, there are several factors that will influence the actual price you'll pay for life insurance, including your age, sex, and insurance type. See Business Insider's picks for the best life insurance companies » Table of ContentsLife insurance is surprisingly affordable. The average cost of life insurance...
Shopping for life insurance can be intimidating. There's so much information out there that it's...Shopping for life insurance can be intimidating. There's so much information out there that it's hard to know where to start. If you want to learn more about life insurance, figure out if it's for you, and get some tips on where to start (comparison site Policygenius is usually a good move), you've come to the right place. We've gathered some of Business...