Life Insurance Rates-Comparing Life Insurance Rates

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This section is not to scary you away but to mentally (and possibly physically) prepare you for the medical exam so this way you know what to expect and can get the lowest possible premiums while receiving the highest possible death benefit. This really shouldn't be a concern if you work out regularly and maintain a healthy eating habit.

The exam is mandatory for most insurance policies. Many term insurance do not require one but expect a low death benefit and/or higher premium. The idea of the exam is not just to see if you're insurable but to also see how much they will charge the insurer/policy owner. The exam is done by a "paramedical" professional that are independent contractors hired by the insurance company who either come to your home or has an office where you/the insurer visit. They are licensed health professionals so they know what to look for! In very few cases the insurance company may ask for an "Attending Physician Statement (APS)" from your doctor. This must be provided by your doctor and NOT copies by you. TIP: The "paramedical" job is to give the insurance company a reason to increase your premiums so don't give any details that are not asked.

First part (either called Part 1 or Part A) is complete by the Agent or by you. Part 2/B is the paramedical or physician portion. The best bet is to have your agent contact a paramedical that specializes in mobile exams for an easier exam for you. Paramedical will contact you to schedule an appointment. The exam is not optional so it's not a matter of yes or no but when and where. This entire exam will cost you nothing except time so make the time, life insurance is important!

The paramedical/physician will take your medical history (questions), physical measurements of height and weight, blood pressure, pulse, blood, and urine. Additional tests will vary based on age and policy amount (yes, the higher the death benefit = the more tests that must be provided). Now if the policy is substantial, the insurance company may not send a paramedical but require an actual Medical Doctor to exam you. Of course, this is chosen by the insurance company so remember my tip earlier! This exam may even include a treadmill test and additional crazy exams in order to see if you qualify for that substantial amount and low premium. On the flip side, if you choose a low insurance policy, you will just have a paramedical doing simple tests that mentioned earlier with no additional exams. whole life insurance quotes

What they are looking for: Paramedical/Physicians are looking for health conditions that may shorten your life. Remember, insurance companies are here to make a business and if you're a liability then it might be a risk they do not want to take or raise the premium to make the risk tolerable. Blood and urine is taken to see the following:

- your antibodies or antigens to HIV

- Cholesterol and related lipids

- Antibodies to hepatitis

- Liver/kidney disorders

- Diabetes

- Immunity disorders

- Prostate specific antigen (PSA)

- Drug tests such as cocaine

The Results: They are sent directly to the insurance company's

home office underwriters for review. Many times you can request

(must be written request) to receive a copy of the results however

many insurance companies will automatically do this. Many times

they will find abnormalities but it's usually not a concern and just

speak to your medical professional for a follow up (remember: the

insurance company will look at these exams with a "fine tooth

cone" in order to see what the risk are). The underwriters will look

at the exam results and the application (remember part 1/a? well,

now they want to see if your also lying) and determine the

premium amount. Smokers pay more; any nicotine in your system

will consider you a smoker, even if it is just socially.

The premium is determined by a category that you fit in. This

really depends on the insurance company on how they factor but

the general rule is if you are a higher risk, you pay higher

premium. If you are standard risk, you will pay a standard

premium, and if you are a preferred risk, you will pay a low

premium.

You can decline the policy after you receive the final quote after

the exam but do remember this: All results will become part of the

MIB group's database (Medical information Bureau). This is a

clearinghouse of medical information that insurance companies

use to store information after you apply for Life/Health/Disability

Income/Long Term care/Critical Illness insurance. So for seven

years it will be on database. You can receive a free report annually

(like a credit check) at their website which I included at the

bottom of this article.

Summary:

Life Insurance Rates provides easy to choose the right life

insurance policy at the lowest price. You could also join the

countless satisfied customers that have found affordable life

insurance policies by utilizing our completely free service.

 

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http://www.lifeinsurancerates.com