Applying for term life insurance has become considerably easier over the past few years, thanks mostly to new technologies such as electronic applications and electronic signatures. And while some life insurance companies now offer non-medical term life insurance policies that do not require a paramedical exam (or paramed), the majority of policies available to you still need one as part of the application process.
But Don’t Panic!
There are some reasons why getting a paramed exam can be beneficial:
- Policies that require a paramed exam are usually less expensive.
- A paramed exam can uncover medical concerns you may not have been aware of.
- The life insurance company pays for it, so… It’s like a free physical!
The paramed exam, like the term life application process in general, has also been enhanced by technology. Many examiners now complete the required forms and transmit all information back to the life insurance company electronically. And, exam companies have more offices and examiners than ever before, making it easier to schedule the exam at a time that is convenient for you.
If you are still a bit unsure, we’ve created this graphic to illustrate how simple the process is and to help you prepare for your paramed exam!