Posted: Wed Oct 01, 2008 4:18 am Post subject: Life insurance examination
Is it that I'd need to sit for a medical test in order to apply for my life insurance? What could be the things that I'd need to learn?
Regards, Purpleheaded08 _________________ Register Now to have your Insurance queries solved.
Since the life insurance premium is directly related to the life expectancy of the individual, the applicant id required to appear before the medical board and pass through the medical underwriting process before obtaining the coverage.
If you are in average good health, you may only require to undergo the general health check-up. But, if you have a history of illness and have a habit of smoking the screening may get severe.
However, life insurance companies may not even require medical tests if you are very young and have a very good health. The medical underwriting becomes mandatory as you grow old.
Medical Underwriting is important in obtaining life coverage, but its not mandatory always and also there are policies that one can receive without taking the medical tests.
The guaranteed life insurance policy is one such coverage that one can receive without medical underwriting. There are various types of guaranteed life plans available in the market. For the whole life guaranteed policy, the premium rate and the coverage level may remain constant for the entire tenure of the plan.
However, for non-medical life plans you are required to pay very high premium even for a nominal coverage level.
Yeah, the guaranteed life plans may be ideal for individuals with severe medical condition or late age. Most often the guaranteed life plans benefits are used in covering the funeral expenses and the state taxes of the deceased.
Another form of guaranteed life plan might be the burial policy. The burial policy helps to meet the burial expenses of the deceased. Most seniors apply and qualify for the burial plans.
Yeah, many of the carriers would ask the applicants to sit for a medical test prior to covering them with life insurance. Under circumstances when you're below 40 years or have applied for coverage below $1,00,000, then you don't need to sit for it. The chances of getting a good worth of coverage with any medical test diminish as you move ahead in life. But then again a lot of these would depend on the underwriting parameters of your chosen carrier as well as your health conditions prior to your application. Evan
See..when I'd think of a medical exam I see the same old urine tests, blood analysis and routine physical check ups. It is only for some giant policies that a carrier may seek the test reports concerning your stress analysis. Under such scenarios, you'd need to furnish your medical track-record, attach the names of the doctors as well as the nature of the treatments. Some of them may even inquire about the date and time of such visits. Such tests are generally conducted under the supervision of a doctor or an experienced nurse hired by the insurance carrier.
ArindamSenIndies
Well, things gottabe a bit different when the applicant has pre-existing medical conditions. This is when you should not hide anything concerning your health from your prospective carrier. Insurance companies may obtain most of the information concerning your health through the MIB (Medical information bureau).
In case you try hiding health facts and your carrier finds out something crucial, then they might start analyzing each and every financial record concerning your life. In the event you'd pass away due to any illness that you'd hidden initially, then your carrier may choose not to pay your death benefit to your beneficiary. Crossbreed _________________ Register Now to have your Insurance queries solved.
Hi!
There are certain things that you'd need to follow before you go for the test-
* Take rest before you for the test
* Fast for about 7-8 hours prior to your test
* Don't consume caffeine for about an hour prior to your test
* Don't take alcohol for about 8 hours prior to your test
* Avoid smoking since an hour prior to your test
In case you follow these instructions, I'm sure you'd get good results!
Fatman
Posted: Wed Oct 08, 2008 4:34 pm Post subject: Life Insurance Exam
For the most part the exam will consist of a blood test, a urine test, and a brief medical history questionnaire. Depending on your age, say 60+ and the amount of the insurance you might be required to take an ECG electrocardiogram, this can be done at home with the proper equipment. Remember no red meat the week before a test, no exercising for 36 hours before a test, fast as much as you can, and be honest on your questionnaire- it can really speed up your underwriting process. _________________ Register Now to have your Insurance queries solved.
Medical exam is needed by the insurance company to assess your physical condition before getting a life insurance. But not all policies requires medical insurance. There are some cases that no medical examination is required. It can also vary base on the age of the client. _________________ Free Insurance Quotes
Many life insurance companies require a medical exam of their applicants in order to qualify for life insurance coverage.
Some insurers make this a routine requirement for all policies over $100,000 in coverage.
Other insurance companies offer no exam life insurance for up to $500,000 in coverage. However, the rates are usually higher than those for fully-underwritten policies requiring a medical exam.
Still other companies offer guaranteed acceptance policies with no exam required, but the benefits are usually graded (limited) for the first 1-2 years.
There are several things considered when you take a medical exam, they may check your heartbeat, your blood pressure, and draw blood for analysis to see if you have any health problems, or diseases. They will also check your blood for HIV/AIDS and high cholesterol.
You can review some helpful tips to help you prepare for your life insurance medical exam by reading this article on life insurance medical exam tips.
