. What Does a Life Insurance Medical Exam Entail?

What Does a Life Insurance Medical Exam Entail?

Life Insurance

Find out everything you need to know before you take a medical exam as part of your life insurance application

Getting life insurance is an important life step. In fact, when you have a major life milestone—like getting married or having children—you should definitely start looking at life insurance policies. Life insurance protects your loved ones in the event of your untimely passing. Though life insurance can be a tough topic, it is important that you consider your loved ones and what could happen when you’re not around.

When you take out a life insurance policy, you are buying a coverage plan that your loved ones will be able to use to replace your income, pay off any remaining debts, and deal with funeral expenses. Without insurance, you could leave your family in a tough financial spot, which will only make the grieving process and funeral planning more strenuous.

In order to get life insurance, most plans will require that you take a medical exam to get approved for a life insurance policy. If you haven’t purchased life insurance before, there is a good chance you have some questions about what the medical exam entails. In this article, we’re going to be breaking down the most important things you need to know before you undergo a medical exam to get life insurance. Let’s get started!

Why Do Some Life Insurance Providers Require a Medical Exam?

The more information the insurance company has about your health, the better they can assess your risk

The medical exam is designed to assess your risk as a policyholder.

When you purchase a life insurance plan, you and the insurance company enter an agreement that in the event of your death the insurance company will pay out your policy amount. As a way for the insurance company to assess the risk of insuring you, they will often have prospective policyholders undergo a medical exam. The medical exam is designed to identify any major risk factors that could influence your life expectancy. For example, if you have a chronic illness like diabetes or HIV/AIDS, the insurance company will charge a higher monthly premium or they could reject your application outright.

There are also other health-related factors that can be discovered through a medical exam/medical questionnaire like whether or not you use tobacco products or engage in potentially life-threatening hobbies. 

Overall, the life insurance medical exam is designed to assess your risk so the insurance company can properly evaluate your application with the most information possible.

Can I Get Life Insurance With No Medical Exam?

There are a lot of life insurance policies that do not require a medical exam

These days, it is easier than ever to get life insurance through instant approval.

If you have a chronic condition, have been denied in the past, or just want to get life insurance as quickly as possible—then you can explore getting life insurance without a medical exam. No medical exam life insurance is pretty common and is by far the easiest way to get coverage for your loved ones. In fact, some insurance companies are able to get you a no-medical exam insurance quote in seconds!

You can get different types of life insurance without a medical exam as well! Both term life insurance and whole life insurance are plans available with no medical exam. In a lot of cases, while you don’t have to undergo a medical exam, you will still have to fill out a medical questionnaire so that the insurance company can get a big-picture idea of your health. When you are not required to fill out a medical questionnaire or undergo a medical exam, then those plans are called “instant approval” life insurance plans.

In general, the less information the insurance company has about your health status, the more they can charge for a monthly premium. However, if you are a young person looking for life insurance, you can still get a good deal on no medical exam life insurance or instant approval life insurance. 

Of course, for people who have been denied based on their health conditions, no medical exam life insurance could be the only life insurance policy available.

What Should I Expect When I Undergo a Life Insurance Medical Exam?

Medical exams can be nerve-wracking! We can help you prepare by going over everything you need to know about a life insurance medical exam

A medical exam is a necessary step for many insurance plans.

If you decide to take a medical exam as a part of your life insurance application process, then you’re probably wondering what exactly they will test and what they’re looking for. In this section, we’re going to be going over the different aspects of the life insurance medical exam and things you can do to prepare. Let’s get started so you can enter your life insurance medical exam with peace of mind.

1. Medical Questionnaire

As we mentioned, your application for life insurance will likely include a medical questionnaire and a physical evaluation. To get started, the examiner will ask you a few questions about your medical history and your family’s medical history. After that, they will take some measurements including your height, weight, your pulse, and your blood pressure. This is very similar to something you would experience at a checkup with your PCP. 

You should also have your current medical information handy including any medications you currently take, any allergies you have, and your current doctors. After the medical questionnaire is complete, the examiner will move on to the next step.

2. Blood Draw

The next step of the life insurance medical exam process is a blood draw. The life insurance company will be looking for any potentially life-threatening underlying conditions such as high cholesterol, hemoglobin levels, STDs, or other chronic conditions like HIV/AIDS. If you haven’t previously had your blood drawn, it is a process that only takes a few minutes and is relatively painless. Though no one loves getting their blood drawn, it is an important step required to get life insurance with a medical exam.

3. EKG

EKG is short for electrocardiogram. An electrocardiogram is a type of test that involves the placement of electrodes on your body. This procedure is completely painless and is only required for some individuals—not everyone has to undergo an EKG. The EKG is designed to identify any heart-related abnormalities like arrhythmia, heart disease, or previous heart attacks. If you’ve never had a heart-related health issue before, you will probably not have to undergo an EKG.

4. Physical

You have likely undergone a physical examination before at some point in your life. This routine medical exam is designed to get a big-picture idea of your health. The requirements of the physical will differ depending on the company you chose and the answers to your medical questionnaire. Overall, a physical exam should not take more than 30 minutes and will not differ from any physical examination you’ve had in the past. 

5. Additional Examinations

The vast majority of people will undergo the types of examinations we’ve just listed. Though some people can avoid the EKG portion, it is still far more common than the other types of exams that are sometimes required by insurance companies. You should do your research to determine whether or not you will need to undergo additional tests or examinations to get approved for an insurance policy. These additional tests could include a treadmill EKG or a set of x-rays. If you need these additional tests, your insurance company can help you schedule an appointment at a medical facility.

Depending on the results of your medical exam, your insurance company will either approve or deny your application. It is also possible that you are presented with a high monthly premium that just isn’t fitting within the budget. If that is the case, you can always try a different avenue to get life insurance. If you have a chronic condition that would lead to an application denial or want to avoid the time and stress associated with a medical exam, you can always explore getting life insurance without a medical exam as a way to protect your loved ones.