Life Insurance Exam, What to Expect When Applying for Life Insurance

July 14, 2010 by  

Before buying a life insurance police, you will most likely need to get a physical examination. The exam will be used to assess your risk as a customer. Paramedicals are often the ones who perform a life insurance exam; they are independent contractors hired by certain insurance companies. Some of them will come to your home and others will require you to come to them. It depends on the insurance company you have chosen and what their own unique requirements are.

The first part of this examination is written, and requires you to answer a series of questions about your current and past health. Insurance companies use this form as part of the process which is utilized to come up with a figure for each person. This part asks all medical questions, and the second part is answered by a paramedical or a general physician.

After the paramedical gets all the information on you regarding where you live and the amount you applied for, you will get a visit to complete the second part of the exam. The second part of the exam is purely physical. Most of these examinations involve taking blood pressure down as well as drawing blood for purposes of doing various tests. They will first call you to schedule an appointment time that is convenient for you. With most insurance companies who offer life insurance, this examination is not optional but rather required to process your application in full.

It is important that you know what to expect in a life insurance exam. Your height measurements will be taken, as well as your pulse and weight. Urine samples might be required as well as blood, and anything past this is based on your age. While some of these tests differ in what exactly is done, it’s always a good idea to have a general feel for what they typically consist of. Some insurance companies will send a mobile EKG test for patients applying who are over the age of 50, and applying for large amounts of $1,000,000 or more.

As the amount you are applying for increases, you will have to be ready for even more tests in this part of the life insurance exam. Treadmill tests are sometimes required for those who are applying for amounts well into the millions. This is meant to be a stress test to gauge the state of all your physical faculties. If you are younger and not applying for that much, then you may not have to get any tests done or measurements taken.

These insurance companies simply want to make sure that you are in at least fairly good health before they agree to cover you. This is especially true with older people, who are looked at as more of a risk. If you fail any aspect of the examination, you will not be considered for coverage. You must at least pass the basic tests done if you are applying for a smaller amount. The tests become more strenuous and in-depth as the face amount goes up.

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