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Medical Exam | Life Insurance Explained



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Meet Owen. He is on his way to apply for the life insurance policy. Owen does not know what to expect when it comes to the medical exam. Stick around if you would like to know more about the medical exam required for life insurance. Medical Questions on the Life Insurance Application
You want to apply for life insurance. Let’s talk about the application. You must provide basic information such as your name, address, and employer. In addition, it will request your height, weight, and birthday. The information will also include your smoking and drinking habits. Your net worth and income are also likely to be asked. While I have your attention, please hit that subscribe button and bell button to join our notification squad.
You should tell the truth if you have problems with your weight or other health issues. You may face an increase in your premium, cancellation of your policy or denial of a death benefit claim if you lie about your health. You can tell an insurance company whether you take medications or have undergone surgery during the application process. The premiums are usually higher and the face value is lower for no-exam life insurance, such as guaranteed issue life insurance. Now let’s talk about the medical exam.
Medical exams are required by many companies and policies. You can be examined at your home, office, or a clinic selected by the insurance company. There are few topics that the paramedical will discuss. Medications, conditions, surgeries and prescription medications are all included in this discussion. Paramedics take your blood pressure, listen to your heartbeat and ask about medical history of your immediate family. You'll also be asked for a blood and urine sample. They may also ask about high-risk hobbies and exercise habits that may affect your health. Additional tests may be required based on your age, the kind of coverage you want, and how much you're applying for. Tests may include an EKG, a chest X-ray, or a treadmill test.
Your medical exam and application are then reviewed by an underwriter. Upon reviewing your request and medical exam, the insurance company will either accept or deny it. The process takes days or weeks. They can ask your physician for your medical records to find out if you have any medical conditions or treatments. This information helps the company calculate what risk you represent and how much coverage to offer.
Lies can not only result in coverage being denied but can also make you red-flagged. This will make other insurers aware that you were denied coverage. Let’s talk about what happens if your coverage was denied. A few options are available to you, if you "fail" the medical exam, and your insurance company refuses to cover you. Your employer may offer group whole life insurance. This doesn't require a medical exam or ask your agent if there is a no-exam policy that can meet your needs.
When offered an insurance policy but are not satisfied with the quote, you can take it for now and then be revaluated later. Checkout our video on how to reduce premiums. If you liked this video, make sure you demolish that Subscribe button and join our notification squad by hitting that bell button.

----VIDEO CONTENT-----

00:00 - Introduction
00:20 – Basic Information
00:34 – Health Related Questions
00:50 – Be Honest and specific
01:38 – The Medical History
02:25 – Red Flagged
02:36 – Group Whole Life Insurance.
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Health
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