Do I Need a Medical Exam to Get Life Insurance?
Do I need a medical exam to buy life insurance?
Do you prefer to learn by watching? We answer this question in a video below. Click here to jump ahead.
Competitive life insurance companies often require a medical exam before underwriting a policy. Some companies offer policies that don’t require a medical exam, but in most cases you need to qualify for these by being in excellent health and within a certain age range (and even then you still may need to get an exam done).
» Learn more: What Is Accelerated Underwriting or No Medical Exam Life Insurance?
There are also guaranteed issue policies that require no medical questions or exams, but these tend to be much more expensive and are often issued with less coverage.
If your policy requires a medical exam, don’t worry—it’s nothing to fear. Here we break down what happens so you’re prepared.
Why do I need to have a medical exam?
Your health plays a big role in determining the cost of a life insurance policy, so a medical exam is important. Insurance companies price the policy based on your mortality risk.
If you are young and very healthy, your life insurance is going to be very inexpensive. If you have a medical condition the insurance company takes that into consideration, but Quotacy shops around to make sure you get the best policy.
» Compare: Term life insurance quotes
What happens during the exam process?
The life insurance medical exam is free of charge to you. It usually lasts 20 to 30 minutes.
The certified professional examiner comes to you where it is convenient, like at your home or workplace. You can schedule it for when you are prepared and available.
The exam will consist of:
Providing your medical history and that of your family’s (mom, dad, siblings)
Recording your height and weight, blood pressure and pulse
Obtaining a blood sample
Submitting a urine sample
Some applicants may also get a cognitive test (applicants over age 70) or EKG during the exam.
What tests are done?
Each individual insurance company selects the tests they need for the underwriting procedure. The examiner won’t know which tests the company plans to run. The examiner is requested only to collect and prepare blood for analysis. The insurance company gives instructions to the lab regarding specific tests.
Typically, insurance companies use the blood and urine samples to test for HIV, smoking status, and the health of your heart, liver, and pancreas.
» Learn more: What Does a Life Insurance Medical Exam Test For?
