Life insurance medical exams are usually required by most life insurance companies before they will agree to offer you a life insurance policy to insure your life.
The reasons life insurers require a medical exam before insuring you are to determine your level of health, find out if you answered the questions on the life insurance application truthfully, and determine whether you have a medical condition you were not aware of when you applied for your life insurance policy.
Guide to Life Insurance Medical Exams
How a Life Insurance Medical Exam Works
Once your life insurance application is received, a licensed insurance agent will review the application and determine if your application is acceptable, and whether the company will offer you a policy. If you are accepted, the insurer contacts a paramedical firm in your area.
The paramedical firm receives your health information to review before your physical exam. A paramedic will contact you by phone to schedule your appointment for the medical exam. You may be called within just a few days of completing your life insurance application.
The life insurance company pays for the cost of the medical exam. Sometimes there is no medical exam required, usually that happens when the amount of coverage requested is small, or the applicant is under a certain age. In most cases you will be contacted to take a physical.
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Once You’ve Completed the Medical Exam
After the physical is performed, all results are sent to the life insurance company. If there is a problem between the results and what you stated on your application, the insurer may deny coverage or need further information.
What to Do If You’re Turned Down for Coverage
If the life insurance company denied you coverage because of your health, call the insurer and ask them to mail you the results. After reviewing the results, if you think there is an error, you can contact the insurer and request a second physical exam.
If you were denied coverage due to a medical condition, you can look into life insurance companies that specialize in providing life insurance for people with your type of health condition.
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Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.