Life Insurance No Exam? Not Likely - Here's how to best prepare for your life insurance medical examination

Life Insurance No Exam?  That's called "guaranteed issue life insurance". 

If you want a cheaper rate, here's how to best prepare yourself for a life insurance medical examination:
 

In order to qualify for a life insurance policy that is underwritten (Guaranteed issue does not count here), you will need to have a very brief medical evaluation.  This mini exam is done by a licensed nurse, who is an employee of an examination service.  Insurance Agents like me call on these examination services to see the clients at the time and place of the client's convenience.  You as a client do not have to pay for this "exam".  What you will have to do is give a blood sample, a urine sample, health questions (like "have you ever smoked" or "have you seen a doctor lately and for what"), etc.  The nurse/examiner will measure your height and weight. 

Blood & Urine - If you eat a honey bun right before your medical test on the day of your exam, your sugar may spike in your blood.  This will alarm the insurance company!  Don't eat any sugar before your lab tests.  Eat a healthy meal, if anything, and do not drink any caffeine or alcohol.  Don't exercise before the exam - your present and past blood pressure readings are a critical factor.

Height and Weight - If you have lost a significant amount of weight in the recent past the insurance companies will only give you credit for half of the weight lost.  If you weighed 250 pounds and you lost 50, the insurance company would cut that 50 in half (25) and look at your risk status as if you weighed 225 pounds.  Some companies will do this and some will look at your current weight (if the reason for weight loss is gastric bypass surgery).  Be prepared to be weighed.  The examiner will bring a scale!

Medical Questions - Be prepared to answer a few medical questions.  If you have had any significant medical problems in your life, you need to fully divulge that information.  The insurance companies WILL find out all about this info anyway; they just want to see if you are truthful.  They want you to make the whole process easier on you and on them.  Most of all, they don't want to have to decline your claim if you die because you were not truthful or withheld information when you applied for the coverage.  Be prepared to give your Doctor's contact information to the examiner.

Driving Record & Hazardous Avocations - If you have had a DUI, reckless driving, speeding ticket in the recent past you will be looking at a higher rate.  This information will be obtained by the insurance company.  If you are a sky diver, a diver, a pilot or student pilot, or a missionary, you may have to pay more for a life insurance policy - it all depends upon the company you deal with and their underwriting philosophy.  Be prepared to give details as to exactly what you do when you dive, fly, etc.

Family History - Did either of your parents die before the age of 60 due to heart problems or cancer?  This can increase your rate. 

 

Need advice?  Contact me!