What to Expect During An Insurance Medical Exam

Life insurance policies usually require a medical exam. So why do life insurance companies demand a medical exam, and what is it?

The Underwriting Process

The evaluation process known as "underwriting" is typically a part of life insurance. Insurance companies must examine and categorize applicants based on a number of characteristics as part of the underwriting process. The underwriting process usually considers the applicant's lifestyle, occupation, hobbies, and physical health.

The process helps the insurance company assess the applicant's health and mortality risk. The results of the underwriting process assist insurers in appropriately pricing life insurance policies to safeguard their finances. This means that applicants who are in better health pay less than those who have health problems.

The underwriting process entails the following steps:

1. Application

2. Medical exam

3. Data analysis

3. The final rating

The application process requires the applicants to fill out a request form genuinely and carefully without missing any data. In addition to your name, date of birth, address, and employer, the form will also request your height, weight, lifestyle habits (smoking, drinking, exercising, and participating in extreme sports), health histories of your close relatives, and financial information, such as your annual income and net worth.

The medical exam is the longest part of the whole process. It requires filling out another form that includes data about the applicant's medical background, his current and former prescriptions, medical background of the family members, driving history, dangerous hobbies, and travel plans.

The underwriter must now gather all the data and do an analysis to calculate the applicant's expected lifespan. If the likelihood that you'll pass away while the policy is in effect is high, your premium will probably be higher. In other words, the higher that probability, the higher your premium will likely be.

The underwriter will finally do an insurance classification rating after taking everything into account, and the applicant may fall into one of the following five categories:

  1. Preferred Plus or Preferred Elite
  2. Preferred
  3. Standard Plus
  4. Standard
  5. Substandard

Note that every company has different underwriting standards. Insurance companies may also require further information to determine the final rates.

Let’s Learn More About Insurance Medical Exam

As already stated, a medical exam is a standard part of any life insurance evaluation process. It is free of charge and frequently held at the applicant's home, place of employment or healthcare facility. It can take up to an hour, depending on the type of tests involved. Medical exams are usually divided into two parts: medical interview and physical exam.

The medical interview typically takes place over the phone before the physical exam. The insurer inquires about a variety of health-related issues, such as any medications you are taking, how frequently you take them and their dosages, the contact information of doctors you have seen in the last five years, a list of your diagnoses, courses of treatment, and the results of those treatments.

A physical exam is conducted tête-à-tête and includes measuring your height, weight, pulse, and blood pressure, as well as collecting blood, saliva, and urine samples. Depending on the applicant's age, the insurers can also require an electrocardiogram (EKG) and/or an X-ray examination. You might be required to take an additional cognitive ability test if you're 70 years old or older.

After receiving the data, the lab will examine the blood, saliva, and urine samples to check for any potential health issues, such as diabetes, high cholesterol, HIV/AIDS, smoking, drug use, and disorders of the liver and kidneys. These problems can all have an impact on the premium you are likely to pay. Some of them can even result in the denial of an insurance claim.

How to Get Prepared for a Life Insurance Medical Exam

  • Despite the ease and convenience with which insurance medical tests can be passed, candidates are frequently recommended to prepare in advance in order to get better results, hence lower premiums in the future. Drinking lots of water, cutting back on salt and alcohol, avoiding smoking, and maintaining a balanced diet are the first and most crucial things people may do at least 10 days before the exam.
  • The day of the exam is usually determined by the insurer,
  • and the applicants are notified about it in advance. Thus, it is better for the applicants to stay away from coffee, avoid medicine, not to eat meat, and to get enough sleep the day before the exam.
  • Be aware that you must fast for six to twelve hours prior to the exam. This implies that you shouldn't exercise, smoke, or chew gum. These activities may speed up your digestion, which may have a negative impact on your results.
  • You should bring your ID, medical history documents, current medications, and your doctor's contact information with you on the day of the physical exam. Additionally, wearing light, loose clothing is advised to make fitting the blood pressure cuff easier and to avoid problems with being overweight.

After the Medical Exam

Within a few weeks of the medical exam, the insurance company processes the test data. When the results are ready, the applicant can obtain a copy of them and either purchase the insurance policy directly from that firm or use that document to submit applications to various insurance providers to compare options.

It's also critical to remember that a lot of applications can be turned down depending on the results of the medical examination. This may occur for a variety of reasons. So, who might have their life insurance application denied?

  • The very first factor is age. Younger people are more easily accepted than the old.
  • Heavy drinkers and smokers may have a lesser likelihood of being approved for life insurance.
  • People suffering from a severe illness or disease, those having cancer or heart issues, are probably going to get a denial.
  • Rock climbers, skydivers, and other people who engage in risky activities may not be eligible for insurance․
  • People having a history of drug usage may also get a denial.

If you receive a denial, you can always appeal the decision. The insurance company should give its customers more information on the appeal process so that they can effectively dispute the denial.