You may have decided that you want to obtain a life insurance policy to ensure that your family will be financially taken care of should you happen to die unexpectedly. There are numerous types of plans you can choose from, as well as many different companies to buy your plan from. There are a number of factors that will affect the outcome of what kind you end up with and how much it will cost, but none are more important than the medical exam you must take. So what tests are done for a life insurance exam?
If you are found to be in good health, you will likely get a better price on your monthly rates. If you are not in good health though, you will either be faced with higher premiums, or you could be denied coverage altogether. The exam you will undergo is fairly simply, as the insurance company will send someone from a paramedical service out to you with all the supplies they need. The insurance company may also ask for an attending physician’s statement, but the exam itself will never be done by your own doctor for legal purposes. If you find yourself asking ‘what tests are done for a life insurance exam’, then continue reading.
The paramedical professional will do the basic things, like get a complete medical history from you, measure how much you weigh and how tall you are, check your pulse and blood pressure, as well as collect urine and blood samples. Other tests may be done, but those will depend on how much of a policy you are looking for, as well as your age. Some companies will require an EKG for those who apply for a life insurance policy of more than $1 million and are over age 50. The same goes for applicants over the age of 70 who are applying for $2 million or more. These only answer some of what tests are done for a life insurance exam.
For those applying for $10 million or more that are over age 50, a treadmill test will usually be required. The same goes for applicants over age 76 who are applying for more than $5 million. If you apply for a lower amount on your life insurance policy, you may not be required to take an exam. Someone who is 40 years old and only applies for a policy worth $50,000 would likely not have to do any medical examination. These are the tests that are done for a life insurance exam to assess risk.
When you are ready to take the next step to getting life insurance comparison shopping is a great way to save money. When insurance companies compete for your business; you win. Results have shown that consumers can save 20 % and more just by taking five minutes to compare rates from top rated insurance companies that compete for your business. Compare Term Life Insurance Now has done all the research and due diligence to make sure that you can get all the facts you need here at our site.
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