Not every type of life insurance policy requires a medical exam. With a guaranteed issue life insurance policy, there are no medical questions and no exams. Simply fill out the application, answer a few questions and you’re on your way to peace of mind.
Though most life insurance companies require a complete medical exam before underwriting a policy, some companies do offer non-med or no-exam policies. However, these policies generally tend to cost more and come with less coverage. If you decide to go with a no-exam policy, you’ll be asked to fill out a form detailing your medical history.
However, if you’re in great health and aren’t in a huge rush, the underwritten product — which requires an exam — is the best value. Typically policies that require a medical exam will be approved within 40 – 60 days.
So, what if you going for the cover all, leave no stone unturned type of insurance policy (disclose everything, and have it ALL covered)? Well, a medical exam is usually required to ensure each party knows of any problems and can compile the best options for you. Here are 8 do’s and don’ts before a life insurance exam:
24-hours prior to exam
- Get a good night’s sleep. keeping your body stress free and restful ensures the best resting pulse and blood pressure
- Document medications – Prescription and over-the-counter medications including vitamins, herbs and supplements
- Stay hydrated by drinking one glass of water before your exam will ensure blood is easier to draw
- Notify of any past blood draw issues so the examiner can be prepared
24-hours prior to exam
- Don’t consume salt and high-cholesterol – both can skew your test results
- Don’t exercise – excessive activity may release protein into the urine and elevate liver function tests
- Don’t Drink alcoholic beverages – alcohol may cause dehydration and liver function test elevation
- Don’t use nicotine or caffeine – stimulants elevate heart rate.
Doing or not doing these 8 things could affect your insurance rate or determine whether you are able to get the coverage you want. Not sure if what type of life insurance you need? Worried you may pay too much for something you’ll never use? Contact your Insurance Architect today so we can quickly assess, build and guarantee your perfect policy.