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home > policy & application > medical exam The Life Insurance Health ExamBefore an insurance company gives you a final quote for a policy, a medical examination is usually required.
How it worksUpon receiving your application, an insurance agent will review it and decide whether or not the company wants to offer you a policy. If they do, the insurance company contacts the paramedical service center in your area. The life insurance medical examDepending, once again, on the type and amount of insurance you want to purchase your exam will include most or all of the following: physical exam, urine specimen, blood work, EKG and x-ray. The life insurance exam is designed to identify conditions and personal habits that will effect your mortality. HIV, high cholesterol, liver or kidney disorders, diabetes, hepatitis and immune disorders are all tested for as well as drug use, and smoking. Sidebar After the medical examAfter your life insurance exam, the results are sent to the insurance company for review. If something does not coincide between the two accounts (your application and the paramedical exam), the insurance company will either deny you a policy or will carry on further evaluation. You might be required to undergo a second health exam to settle the discrepancies. The insurance company may contact the MIB (medical insurance bureau), which is a database of people's medical and insurance histories shared by insurance companies, to settle any questions they may have. What do I do if I am turned down?If you are turned down because of health, call the insurance company and request the results of your life insurance medical exam to be sent to you. If you suspect some test results are wrong, contact the insurance company and ask for a second medical exam. For more help . . .Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process. |
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