We get a lot of questions about life insurance and medical exams. People seem to be confused by the purpose of a medical exam or just don’t want to go get one. Its usually inexpensive to get a medical exam and in many cases can be covered by medical insurance with certain carriers. You’ll quickly notice when you start getting life insurance quotes that exams are usually required. So lets get into just what is the purpose of these medical exams.

What is life insurance no medical exam?

Life Insurance No Medical Exam coverage is a type of life insurance policy that does not require you to take a physical exam in order to qualify for coverage, just answer a few health questions. Many life insurers require you to take an exam to qualify, depending on your age and the amount of coverage you are requesting.

One type offers coverage up to $30,000 with instant approval. However, the full coverage may or may not become effective until you have owned the policy for 1-2 years, depending on the insurer and terms of the policy. These types of policies are usually considered final expense or burial insurance policies.

Why do I need a life insurance medical exam?

A. There are many benefits of a life insurance medical exam The life insurance exam helps to pinpoint certain aspects of your health situation to determine your exact rate class. A simple blood test and urine sample measure cholesterol levels or screen for problems such as diabetes, liver or kidney disorders. By getting a clear picture of your health from your life insurance medical exam, the insurance company can place you in the most accurate rate class, which determines what you pay. This can mean a lower cost for your policy.

Insurance policies that require a medical exam are called medically underwritten policies. The policies that are not medically underwritten often cost more, because the medical risks are averaged across the board. If you are healthy, you essentially pick up the tab for someone who is not as healthy.

Do I need a medical exam to get life insurance?

With most life insurance companies, if you apply for life insurance you have to take an exam. The exam is not a major physical exam, it’s generally a very mini exam. A person comes to your home or your office, does blood and urine tests and sends them to an insurance company. They ask you several medical questions about your health: what kind of doctors you go to, if you’re taking any type of medications, and that physical exam is then sent to the insurance company underwriters. They look at your health history, they look at the results of your blood and urine chemistry, and then they decide if you’re a good risk or not a good risk.

To make an insurance claim for life insurance, assuming you’re the beneficiary, you would contact the insurance agent. The insurance agent would give you some suggestions. Number one, you need to get several copies of a death certificate, you might have insurance with two or three or four companies. Each company will want an original purple-inked death certificate, they don’t accept copies, they have to be an original. The second thing is they’ll want a claim form filled out, you’ll say who you are as the beneficiary, the cause of death, and you’ll submit that to the insurance company. If everything is legitimate and especially if the policy is over two years old, the insurance company could issue a check in two or three days. Sometimes they hold off paying the claim for a week or two or three weeks until the doctor gives an official cause of death because ultimately the insurance company has to make sure that they’re paying a claim to the proper person. For example, some beneficiaries have killed the insured to collect the money.

With most life insurance companies, if you apply for life insurance you have to take an exam. The exam is not a major physical exam, it’s generally a very mini exam. A person comes to your home or your office, does blood and urine tests and sends them to an insurance company. They ask you several medical questions about your health: what kind of doctors you go to, if you’re taking any type of medications, and that physical exam is then sent to the insurance company underwriters.