Does life insurance require a medical exam?
It depends on the type of policy you choose. Policies requiring medical exams as part of the application process can include permanent life insurance. You may also need one for level term life insurance.
Some don't require a medical exam, and they're usually more expensive. For example, a guaranteed whole life policy can cost twice as much as a policy that requires an exam.
Why it’s required
The exam is done to get a clear picture of your health. Those results are combined with things like your medical history, driving record and hobbies to get an overall picture of your life.
The insurance company uses this information to calculate how much your coverage will cost.
What does the medical exam check for?
A medical professional will record your height, weight and blood pressure. If you're an older applicant or applying for a large amount of coverage, you may have to take an EKG to check your heart.
They'll also take blood and urine samples to check for:
- Blood protein levels
- Blood sugar levels
- Fluid and electrolyte balances
- Liver and kidney function
- Metabolism
- White and red blood cell counts
After the exam
Your results will be delivered to the insurance company you're working with and used as part of the underwriting process. This may take a few days, depending on the testing facility.
The results will help determine a health classification, which can affect how much you'll pay for coverage. If you're healthy, it helps you get a better rate.
Life insurance medical exam FAQ
The results of your medical exam help determine what you pay. Other factors that go into your cost may include your age, occupation, driving history, medical and prescription drug histories, the type of life insurance you choose, and how much coverage you want.
If you're denied, talk to a representative from the insurance company to find out why. Ask if there's an opportunity to improve an aspect of your health and reapply. You can also explore policies that don't require a medical exam, like guaranteed whole life.