Are you over 50, and thinking that one of those TV-advertised no life insurance exam policies is a safer option for you? Dont be too quick to bet on that.
Perhaps youre taking a couple of medications, and think that because of this, you definitely wont be able to get coverage, if you allow yourself to take an insurance company medical. As the song goes, it aint necessarily so. Some minor health conditions not likely to affect your life expectancy wont significantly affect your coverage chances at all. Paramedics and approved clinics that provide these exams for insurance companies are skilled in making allowances for medications that dont impact coverage eligibility.
The biggest risk you run " and a glance at any Life Insurance companys standard forms and rating systems will confirm this " is whether you are addicted to nicotine!
Some people are surprised to learn that a person over 50 with non-life threatening medical conditions can sometimes qualify for a much better rate than a younger person who admits to smoking. When you realize that life insurance exam ratings always end with Nicotine or No Nicotine, it sheds the proverbial new light on real eligibility criteria. And these ratings are the ones that provide the bottom line on your true status.
You could go with the sort of policy that advertises no exam needed and be sure of getting accepted " but why do that, when you might actually be able to get a much better rate, with a simple exam (and the lower dollar amount the policy, the simpler the exam).
Can It Hurt My Chances Of Getting Coverage, If I Risk A Medical And Fail It?
If you dont know for sure youre going to fail, you actually might better off taking the exam. But if you smoke three packs a day and drink beer every night, you might want to seriously consider either purchasing the more expensive no exam policy " or quitting your harmful habits! You can talk to your doctor about the exam, and he may even fill out an attending physicians official statement as part of the application, but he wont be able to do the physical " youll have to use clinic approved by your potential insurance company (or one of their own well-trained paramedics " who will do all tests in your residence. Your family doctor or specialist signing insurance applications will not circumvent the need for a life insurance physical.
A last word of caution: you do know or suspect you have a more serious health condition but figure you may as well try the exam, another factor to consider is that the results of your physical will go on record for a full seven years, even if you back out of the application halfway.
7 Things You Can Do Before The Test
*
Watch your cholesterol consumption *
Minimize your cholesterol intake
Drink lots of water
Get lots of sleep, the night before
Advise paramedics or clinicians about any medications you have to take (check ahead of time for their recommendations)
Dont smoke, drink alcohol or take any substances like sleeping pills
Avoid any caffeinated drinks or foods (such as chocolate, hot chocolate, coffee, tea and cola drinks) as caffeine can artificially affect your heart rate
What To Expect From The Actual Medical Tests
The other big thing to remember " life insurance examinations are fairly routine. Tests required are not complex " a urinalysis, some blood work and a list of questions. If you are over 50 and applying for a higher amount of coverage, you may be required to perform a treadmill test.
If, however, you are applying for a smaller policy (under $50,000) in some cases the medical is completely waived.
But in the long run, you know your own health best. Only you can decide whether or not its right for you to take that life insurance exam in the hope of getting better rates " or pass and go for the no exam option.
Perhaps youre taking a couple of medications, and think that because of this, you definitely wont be able to get coverage, if you allow yourself to take an insurance company medical. As the song goes, it aint necessarily so. Some minor health conditions not likely to affect your life expectancy wont significantly affect your coverage chances at all. Paramedics and approved clinics that provide these exams for insurance companies are skilled in making allowances for medications that dont impact coverage eligibility.
The biggest risk you run " and a glance at any Life Insurance companys standard forms and rating systems will confirm this " is whether you are addicted to nicotine!
Some people are surprised to learn that a person over 50 with non-life threatening medical conditions can sometimes qualify for a much better rate than a younger person who admits to smoking. When you realize that life insurance exam ratings always end with Nicotine or No Nicotine, it sheds the proverbial new light on real eligibility criteria. And these ratings are the ones that provide the bottom line on your true status.
You could go with the sort of policy that advertises no exam needed and be sure of getting accepted " but why do that, when you might actually be able to get a much better rate, with a simple exam (and the lower dollar amount the policy, the simpler the exam).
Can It Hurt My Chances Of Getting Coverage, If I Risk A Medical And Fail It?
If you dont know for sure youre going to fail, you actually might better off taking the exam. But if you smoke three packs a day and drink beer every night, you might want to seriously consider either purchasing the more expensive no exam policy " or quitting your harmful habits! You can talk to your doctor about the exam, and he may even fill out an attending physicians official statement as part of the application, but he wont be able to do the physical " youll have to use clinic approved by your potential insurance company (or one of their own well-trained paramedics " who will do all tests in your residence. Your family doctor or specialist signing insurance applications will not circumvent the need for a life insurance physical.
A last word of caution: you do know or suspect you have a more serious health condition but figure you may as well try the exam, another factor to consider is that the results of your physical will go on record for a full seven years, even if you back out of the application halfway.
7 Things You Can Do Before The Test
*
Watch your cholesterol consumption *
Minimize your cholesterol intake
Drink lots of water
Get lots of sleep, the night before
Advise paramedics or clinicians about any medications you have to take (check ahead of time for their recommendations)
Dont smoke, drink alcohol or take any substances like sleeping pills
Avoid any caffeinated drinks or foods (such as chocolate, hot chocolate, coffee, tea and cola drinks) as caffeine can artificially affect your heart rate
What To Expect From The Actual Medical Tests
The other big thing to remember " life insurance examinations are fairly routine. Tests required are not complex " a urinalysis, some blood work and a list of questions. If you are over 50 and applying for a higher amount of coverage, you may be required to perform a treadmill test.
If, however, you are applying for a smaller policy (under $50,000) in some cases the medical is completely waived.
But in the long run, you know your own health best. Only you can decide whether or not its right for you to take that life insurance exam in the hope of getting better rates " or pass and go for the no exam option.
About the Author:
It is possible to get life insurance exam tips even if you are over 50s. Visit life insurance facts for more information and tips on how handle insurance examinations and get affordable insurance coverage.
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