Who pays for the medical exam for life insurance?

The exam itself takes about 20 to 30 minutes and the paramedical examiner who’s conducting the exam can meet you at your home, your work or the exam office. The insurance company pays for the exam so it doesn’t cost you anything other than a little of your time.

Why do life insurance companies require medical exams?

Not so fast — you might first have to undergo a medical exam to help the insurer estimate your life expectancy and determine your rate. This is because life insurance companies use a process called underwriting where they determine the potential risk of having to actually pay out your life insurance policy.

Why is a physical exam required for life insurance?

The life insurance company uses the results of your physical exam in order to decide if they will insure you for life insurance. The results of your medical exam, blood and urine tests help the insurance company to understand what level of health risk you present, and whether or not they should insure your life.

How does a physical work for health insurance?

A physical exam for health insurance purposes is very similar, if not exactly the same, as a standard annual physical. Generally, the doctor will check your reflexes, blood pressure, and draw blood for routine testing. Of course, you can always contact your insurer and ask them if their requirements for a physical exam are more specialized.

What do you need to know about life insurance?

The medical exam for life insurance will usually include two parts: A verbal questionnaire where the medical professional will ask you a series of questions Standard and basic sample collections: During the life insurance medical exam you might be required to give a sample of urine and blood.

Where can I get a medical exam for my life insurance?

During or after your call, the life insurance carrier will work with you to set up an appointment time. You may also schedule a time with the medical exam company that works with the insurance company, such as ExamOne. Getting a paramedical exam is just like going to your doctor to get a physical.