In More About Term Life Insurance

Depending on many different factors, you may be required to go through a medical exam when applying for life insurance. This may feel like an unnecessary extra step, but this exam actually helps insurance companies assess your health and risk levels, which can impact your coverage options and premiums.

Why the Exam Matters

A medical exam allows your insurer to collect detailed information about your health and ensure they offer you the right policy for your needs. The healthier you are, the lower risk you pose to your insurer, which can result in more affordable premiums. Without an exam, an insurer may assume higher risk, leading to potentially higher premiums. 

How It Works

This exam is typically quick and simple and checks things like height, weight and blood pressure, along with blood and urine samples. The medical exam can be done in less than 30 minutes and is done at no additional cost to you, and can be completed at home or work for your convenience. 

Who Needs an Exam?

Not all life insurance policies require a medical exam. Generally, a policy for $2,000,000 or less may not require an exam. A no-exam policy may come with higher premiums, so for a healthy individual, opting for a medical exam can lead to a lower premium.  Be sure to work with a term life insurance expert that understands all your policy options and can provide you guidance on which coverage is best for your specific situation. 

Impact on Coverage

Your exam results may influence the cost of the coverage you will be offered by the insurance company you’ve selected.  Good health may qualify you for lower rates, while some health issues may lead to higher premiums for your new policy.  In the end, having a clear picture of your health helps you obtain the best policy for you and your family. 

While a medical exam may feel like an extra step, it helps secure the right life insurance coverage at the best possible price. 

Reach out to our team today to get started.