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Does Every Policy Require An Exam?

Does Every Policy Require An Exam?

The life insurance medical exam is a way in which insurance companies are able to see the true status of a person's health. It is the status of a person's health that helps to determine what kind of risk they are. The risk then determines the amount of the premium a person is going to have to pay.

Overall, however, the medical exam is relatively simple. You begin preparing for the health exam, the insurance company has someone come to your home, and they then take blood, take your weight, and your height. They determine if you are obese or of average weight. They then ask you questions about your personal medical history, the medical history of your family, and they ask you about your lifestyle.

What Constitutes an Exam?

Many wonder why the exam is necessary for some individuals. The fact is that the medical exam may not be required for everyone. You have to meet certain criteria in order to have or not have the exam or pay a higher premium for a no-exam policy. Not having the exam is something that some prefer, but that isn't always the case.

If you're young and the insurance company is satisfied with the answers that you provide when answering questions about your health, there is a chance that the medical exam may not be required. But there are even times when young people with no major health issues have to submit to medical exams.

If you are overweight, you will have to submit to an exam. If you state that you drink or smoke, those are other reasons why an exam will have to be done. All of these are risky activities that can have negative health effects. All of these lead to heart disease, circulatory problems, and a person who drinks tends to take risks. Those risks can include driving while intoxicated. Drinking can also lead to drinking too much, which results in alcohol poisoning.

There are many reasons why the insurance company may decide an exam needs to be done. The slightest indicator that your health could be compromised is reason for the insurance company to find out if it really is. If you are still healthy, then your rate will remain rather low. However, the risky activities mean the insurance company is taking a risk anyway and they will offset that with a raised premium.

Who Pays for Exams?

When the insurance company orders an exam to be done, they will find a time that is right for you and will communicate this to the individual who will come to your home to do the exam. You will not have to pay anything for the health exam. The insurance company pays for it.

The insurance company won't even seek out reimbursement from you for having the exam done. Plus, you are able to obtain your results once they are available. Because of this, many people do not perceive the medical exam to be a negative. A blood test is conducted that looks for a variety of health problems. If you don't know about a problem and you find out through the health exam, it could very well save your life.

You can also learn through the exam what certain lifestyle changes can do for you. If you implement changes, such as losing weight, you can tell the insurance company later and a new exam will be scheduled. If it shows that your health has improved, you can have your premium lowered. So the health exam can be used as a great tool toward ensuring that the premium you are paying is the right one.

ING Transamerica Insurance and Investment Group American General Life Companies Prudential Genworth Financial Services SBLI Life Insurance Company

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