Life Insurance Medical Exams

Will You Be Required to Take a Medical Exam to Get Life Insurance?

Traditionally, you would be expected to undergo a medical exam as part of the life insurance application process. However, several carriers are pioneering accelerated underwriting initiatives where you can get fully underwritten (meaning lowest cost) policies without having to get a medical exam.

This is especially valuable in these times of lockdown due to Coronavirus!

Leading carriers have online applications and completely paperless policy delivery systems.

No-exam life insurance has been around for years. What is new is that today’s accelerated underwriting programs allow you get the same rates from leading carriers as people get with full underwriting, medical exams and exhaustive review of medical records (known as Attending Physician Statements in the business)

These days when we are physically distancing from one another, we certainly don’t want strangers coming into our homes to give us a medical exam just so we can buy life insurance. At the same time, we don’t want to pay more than the next guy for the same life insurance policy.

If you are reasonably healthy, this is a great way to go. Even if you have ailments such as high cholesterol or high blood pressure, sometimes you can get approved through these programs.

If you have multiple health issues, chances are good you can still get life insurance on a favorable basis, however this will most likely require a longer process of collecting medical records and submitting to multiple carriers on an informal basis.