What to Expect During Your Paramedical Exam
When you are buying either term or whole life insurance you may be asked to go through a medical exam as part of the underwriting process. This is not necessary for most young people taking out small policies, but for applicants in their 40s and 50s who want more than $100,000 in coverage it is likely you will at least need a paramedical exam. A paramedical exam is usually completed at your home or office by a licensed medical professional hired by the insurance company. These professionals are independent and their only role is to make a basic assessment of your medical history and current medical condition. Some operate a mobile service and will come to your home or office with all the necessary equipment. Others will ask you to attend at a laboratory or clinic. The cost of all medical exams is met by the insurance company.
Why Do I Need a Paramedical Exam?
The process of underwriting is all about assessing risk. All insurance companies have strict guidelines about what kind of health problems will cause increased rates and which require applicant denial. The questions asked and samples taken during a paramedical exam can reveal a whole host of issues that will change how the insurance company reviews your request for life insurance coverage.
What Happens During a Paramedical Exam?
The extent of the tests completed during your paramedical exam is determined by your age and the amount of life insurance coverage you have requested. The older you are and the larger the death benefit you’ve requested, the more in-depth the exam will be.
The paramedical professional will generally begin by collecting basic physical information about you, measuring your weight, height, pulse and blood pressure. Then they will begin asking questions about your lifestyle, career and hobbies.
You may also be expected to provide samples of blood and/or urine to eliminate a range of problems with your liver and kidney, identify immune disorders and check on your sugar levels for diabetes. Some life insurance applicants over the age of 50 will be expected to have an EKG, a test to record the electrical impulses generated by your heart. For death benefits over $5 million requested by applicants 50 or older there may be a treadmill test required to assess the health of their cardiovascular system, lung capacity, stamina, etc. The point is to identify any underlying health problem that could shorten the applicant’s life.
Life insurance is a necessary benefit and presents a serious financial risk to the companies that issue it. Paramedical exams are a great way to show how healthy you are and get the life insurance premiums you are entitled to. So get your online life insurance quote today and get started on your journey to a more secure financial future.
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Tags: benefit, exams, insurance company, insurance coverage, Life Insurance, paramedical, paramedical exam, risk
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