When shopping for life insurance, there’s a good chance you’ll be required to take a medical exam. Many people are unsure what to expect during the exam, but it really is quick and easy, and as part of the underwriting process, it helps determine the final rate insurers can offer you. While there’s technically no “passing” or “failing” the medical exam, good results can make a big difference in the cost of your life insurance coverage.
How a Good Score on Your Life Insurance Medical Exam Can Lead to Savings
Life insurance companies use the medical exam to confirm your application, but to also determine the risk your health could pose to the insurer. Using the results of your medical exam, as well as your age, family medical history and lifestyle, insurance companies can determine your life insurance health classification.
Your health classification will then be used to help determine your rates. The healthier you are, the less of a risk you are to insure, which can mean lower premiums. This is one reason why purchasing life insurance when you’re young and healthy can be beneficial.
What to Do If You Don’t Get the Life Insurance Medical Exam Score You Want
If you’re not happy with your life insurance medical exam results or just want to avoid the exam altogether, there are life insurance policy options that don’t require a medical exam. Some may require a health questionnaire and some, like guaranteed issue life insurance, will forgo your medical history entirely. If you’re under 60 years old and in generally good health, no medical exam life insurance can be a great option for those looking for affordable coverage with quick approval.
SelectQuote Can Help Find the Right Life Insurance Policy With Your Score
If you have questions about the life insurance medical exam, we can help. At SelectQuote, our licensed insurance agents will take the time to learn about your unique needs and priorities. In just minutes, we can compare quotes from a variety of highly-trusted carriers, quickly and easily finding the coverage that works best for you.
