Shopping for a life insurance or a long-term disability insurance policy means it’s pretty likely you’ll be facing an insurance medical exam. These procedures are also called life insurance physical exams or “paramedical exams,” and if you’ve never had one, we’re here to help answer any questions you might have about the process from start to finish.
So first off, what goes on during the exam and why do insurers want you to undergo a life insurance medical exam?
The exams are aimed at providing your insurer with a short sketch of your current health on a basic level. You’ll start by filling out a questionnaire which details what you know about your health and family medical history.
Then, a nurse, technician or paraprofessional will also take some basic measurements such as testing your pulse rate, noting your height and weight and testing your blood pressure. In most cases, there might also be a blood test requested. For life insurance and disability insurance policies, your doctor will be asked to draw a sample of your blood. It’s also likely that you’ll be asked to provide a sample of your urine. Let’s say you’re older, or attempting to purchase a high-dollar life insurance policy? Odds are your insurer will ask you to sit through an EKG test to determine the state of your heart function.
So what are insurers looking to discover with these tests?
A testing lab will do a workup of your blood and urine before they proceed. If those tests reveal that you suffer from elevated levels of cholesterol, high blood pressure, show that you use nicotine products or have elevated glucose levels which might indicate a prediabetic condition, prepare yourself for a downgrade in your health rating – and higher premium rates.
Insurers will use your height and weight numbers to arrive at a BMI, or body mass index, to determine any potential impact those figures might have on your overall health going forward.
So How Do I Prepare for My Life Insurance Medical Exam?
As a rule, you probably won’t need to prepare much for the exam, but it might help you feel more prepared to follow these simple tips. During the day before your exam, you should probably avoid sugar, caffeine and alcohol. It also pays to stay away from using any over-the-counter drugs or medications which might skew your lab test results. In the six to eight hours prior to your exam, take a pass on eating, skip any strenuous exercise, drink a glass of water (you don’t want to waste your time trying to produce a urine sample) and above all, spend a little time trying to sit back and relax.
Where Does My Insurance Medical Exam Take Place?
For the most part, it’s often up to you to decide. A nurse or paraprofessional technician can visit you at your home or office, or for that matter, anywhere you might find convenient. Please avoid Starbucks.
The exam should take about 30 minutes in total and rest assured that there’s no surgery or invasive procedures required in most cases.
Once the Exam Is Over?
You wait to hear back from our prospective insurer, and if your company’s underwriter needs more information, or if your test results or questionnaire reveal any potential issues, you’ll be contacted to clear up any details. Underwriters might also ask you for your permission to contact your doctor, but that contact is entirely up to you to approve or shut down.
The exam costs you nothing – not one thin dime. It’s standard as an element of the application process for life and disability insurance policies and the insurers pay the tab. It’s essentially a free medical exam and you’ll receive a detailed copy of the results of your exam.
What If the Results Seem Questionable?
It’s in the best or an insurer to accurately gauge your overall level of health through an insurance medical exam, but say for some reason you think the results are inaccurate? If that happens contact your broker and try to find out if your insurer is open to accepting an alternative, second medical exam. While the results of the first exam will still be in play and considered, you’ll at least be in possession of results that are more to your liking.
And you’re no necessarily locked in once you’ve purchased an insurance policy. You can request an update medical exam when your policy comes up for renewal with an eye toward lowering your rate. This is often possible on the first anniversary of signing your policy. If your test results aren’t as good, you can simply choose to retain your current policy. If your tests results have improved, you’re in a position to ask that your insurer reconsider your risk by taking the latest results into account. You might find you qualify for lower premium payments.
One thing to remember is that, once you’ve been through an insurance medical exam, those results become part of your permanent health record. As a practical matter, it means any previous medical exam results will come into play going forward.
While “no-physical” life insurance policies are out there, it’s likely that they’ll set you back a lot more in premiums.
