Since one’s health and life connect inextricably, many are worried that their health (or previous health incidents/conditions) will disqualify them from getting life insurance. Many would prefer to avoid the medical exam that accompanies the application process altogether. In the video below, Criss Crombie, the life and financial expert, discusses your options.
Do All Life Insurance Companies Require Medical Exams?
In short, the answer is no. But you will at least be required to provide information about your health and background.
Life insurance companies have a vested interest in insuring healthy people. Healthy people are more likely to never need a life insurance policy to be paid out. Every death benefit the insurance company pays is a hit to their finances. Because of this, the company will at least want to investigate your health background and current needs before writing you a policy and setting your rate. Many will require that you go to your doctor and have tests done, such as blood and urine tests.
If you would rather skip the doctor’s visit, many life insurance companies nowadays offer “simplified-issue” or “non-medical” life insurance policies. With this type of policy, the insurance company will verify your health by asking you questions and performing an M.I.V. and script check. Think of it like a medical background check.
Basically, they will search medical databases to see if you’ve been seeing a doctor, using medications, undergoing treatments, etc. They may also ask for medical records to see if you’ve developed severe health conditions. If they find that you’ve experienced issues with your health–like if you’ve had a heart attack–you may still be required to undergo a physical exam to get life insurance, depending on the company.
If you choose to go with a carrier that doesn’t have or doesn’t require a medical exam, you may still qualify for a life insurance policy. However, your premiums may be a little bit higher than if you purchased a policy that requires medical exams.
Life Insurance Questions?
We hope that this information on life insurance medical exam requirements has been useful to you.
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This article was revised on 08/06/24.