Life Insurance Medical Requirements



Many customers ask if they will need to take a physical or see a physician as part of the application process for term life insurance. The answer depends on factors such as the type of coverage, the amount of coverage and the age of the insured. 

First let’s take a look at a description for each type of exam required by most insurance companies:

Paramedical Exam – A brief examination usually performed by a registered nurse or examiner at a time and location convenient to the insured. The exam usually consists of measurements (e.g. height/weight, blood pressure, and heart rate), body fluid samples (e.g. urine, blood) and a medical history questionnaire. The insurance company pays for the exam.

Exam by Physician – A more thorough exam conducted by a licensed physician, typically in the physician’s office. The exam typically consists of all elements of a paramedical exam along with additional testing. Examples may include EKG/ECG, Treadmill Test, chest x-rays, etc. The insurance company pays for the exam.

Type of Term Life Insurance

Regular term life insurance is the most common type of term life insurance issued, and is often referred to as fully-underwritten insurance. Underwriting is the process by which the insurance company evaluates and assigns risk to an insured. One of the underwriting tools used by the company is a paramedical or physician exam.

QuickQuote also offers instant or simplified issue term life insurance through two companies, Liberty Life Insurance Company and Garden State Life Insurance Company. This product is unique in that paramedical exams or physician exams are not required. The application is completed online and a decision is typically given within minutes. The cost of this type of term life insurance is often comparable to regular term life insurance for younger, healthy individuals.  However, the maximum coverage amount currently available is $250,000.

Amount of Coverage and Age of the Insured

As the amount of coverage and age of the insured increase, the likelihood of a physician exam being required also increases.  Take a look at the chart below (requirements from one of our partner companies).

AGE 

 COVERAGE AMOUNT

 REQUIREMENT

 40

 $1,000,000

Paramedical Exam 

 40

$5,000,000 

Physician Exam 

 

 

 

 62

$250,000 

Paramedical Exam 

 72

$250,000 

Physician Exam 

At QuickQuote, we have dedicated Account Managers and Case Managers who will always communicate your specific requirements to you.  If you do not want to undergo any type of exam whatsoever, take a look at quotes for Instant Issue Term Life Insurance.

 

  • anonymous

    is it possable to quilafy for insurane if your hiv +

  • anonymous

    is it possable to quilafy for insurane if your hiv +

  • anonymous

    yes…..

  • anonymous

    Is 15000.00 enough to cover Funeral expenses?

  • anonymous

    I am thinking about applying for life insurance, but I just had an exam 2 months ago, do I need to take another exam and why?

  • anonymous

    Will an abnormal pap smear prevent me from getting life insurance?

  • anonymous

    does life insurance cover out side the country