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Are Medical Examinations Required for Life Insurance?

While buying and keeping life insurance coverage is a straightforward process, you must take a few essential measures before putting the policy into effect. You may need to get checked out by a doctor. A medical exam isn’t always required, but many life insurance companies prefer to examine the findings before approving your coverage.

It is standard practice in the life insurance industry to conduct a brief medical check as part of the underwriting procedure. Life insurance premiums are based on the insured’s health category, which is, in turn, determined by the insured’s medical history and current health status.

The exam is rather easy to schedule; an examiner can come to your house or place of business, and it only takes approximately 30 minutes. Your premiums will be lower if the medical check results reveal that you’re in excellent health. To ensure you’re as ready as possible, we’ll review the procedure in detail. Let’s dive in!

How Does It Work?

A checkup for life insurance is similar to a regular physical. It’s a standard component of getting insurance, where your insurer learns more about you so they can assess the risks they’ll be taking on by giving you a policy. They can then use this data to calculate an appropriate premium for your life insurance plan. Therefore, you’ll need to undergo a life insurance medical assessment before purchasing a policy.

You can typically arrange for a specialist from your life insurance company to come to your residence or place of employment at a time suitable for you rather than taking time out of your day to visit your doctor. The exam is divided into two sections:

Medical Questionnaire

The specialist will ask you several questions to provide the life insurance provider with an accurate assessment of your health. You will likely be asked about the medicines you consume, how often you consume them, and what dosages you take.

Medical history, current and past treatment options, and any recent hospitalizations may also be discussed. You must answer these questions honestly since the insurer may revoke your insurance if it later discovers that you lied. If you answered these questions and filled out an application, the answers should match up exactly.

Physical Examination

A physical examination will be performed, during which the specialist will obtain your vital signs (weight, pulse, height, blood pressure) as well as other samples (blood, urine). For added security, they’ll also review your driver’s license. An electrocardiogram (ECG) may be performed to assess your cardiac electrical activity, especially if you are over 65 or ask for a significant death benefit.

The PSA test, which measures the number of prostate cancer cells in the blood, may also be recommended for men over the age of 50. You may also need to provide a saliva specimen or an X-ray as well. After taking your weight and height, the specialist will determine your body mass index as well as conduct a series of screenings for various diseases using liquid samples.

What Happens If You Fail The Medical Examination?

In the event that the drug test reveals a problem, the life insurance provider might conduct additional research to verify the results, delaying the application procedure. Premiums for life insurance could be double or triple what they would be for someone who has never smoked if a test reveals the presence of nicotine or the tobacco alkaloid, cotinine.

If you omit the fact that you are a smoker from your life insurance application, the insurer may view this as fraud and either reject your application, cancel your coverage, or refuse to compensate your beneficiaries.

You won’t be eligible for life insurance if you already depend on illegal medications or over-the-counter pain relievers. It is possible to qualify for health insurance even if you consume marijuana. Some life insurance companies treat cannabis consumers the same as cigarette smokers, charging them higher prices and limiting their coverage. In contrast, others structure your premiums and insurance on how frequently you use cannabis.

If you have learned everything there is to know about applying for life insurance and are eager to apply for it, then Franklin Life & Annuity is the best option for you. You won’t find a better life insurance company in Houston than us. Whether you want final expense insurance or family life insurance, we have it all. Contact us to learn all about it.

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