Life Insurance and Medical Exams

Private life insurance policies typically require medical examinations. This applies to both temporary and permanent policies. Group life insurance offered through a person’s employer does not usually require an exam. Private customers are required to attend medical examinations so that the insurance company can determine the correct premium level for the policy Security+ certification. For example, if the medical exam shows that the client is likely to die at an early age, the company will want to charge higher premiums at least initially to make sure they cover all of the financial risks associated with this condition.

The medical information needed for a policy to go into affect is acquired in two parts – Part I (sometimes called Part A) and Part II (sometimes called Part B). Part I is the information that the customer supplied to the insurance company to answer the medical questions on the application form. Part II is the section that is completed by the health care professional as part of the medical exam.

Licensed health professionals, typically paramedicals, conduct the examinations themselves. Often, the insurance company hires an outside firm of paramedicals to come to the customer’s own home. Customers may have the option to attend an appointment at a clinic. No matter which option is selected, the exam itself is not optional. It must be completed or the insurance company will not process the application any further.

The customer will not be charged for the examination. Typically, the health care professional is paid directly by the insurance company that is requesting the medical exam.Insurance companies may also request an attending physician’s statement (APS) from the client’s doctor. However, the client’s doctor cannot complete the medical exam itself due to lack of objectivity.

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