How to Pass Life Insurance Medical Exam: It’s commendable that you are doing the right thing for your family with life insurance. Good for you, for this is one of the best steps in securing your family’s financial future.
For a life insurance company to pledge hundreds of thousands (even millions) of dollars, they need a clear picture of your health. One of the best ways to accomplish this is through the life insurance medical exam.
Attention class! Sharpen your pencils. No cheating, it’s exam time.
In the industry we call the life insurance medical exam different things. Sometimes it’s called the “paramedical exam” or simply the “paramed.” Though it may sound intimidating and invasive, it is nothing to worry about.
The paramed can be completed in the comfort of your home or office usually in about 30 minutes. Answer a few health questions, check your height and weight, then submit a blood & urine sample to a nurse. That’s it!
It’s paid for by the life insurance company, so for you that’s free comprehensive lab work. In about thirty days, the results are available for you to review.
Why would you need to take a paramed exam?
In a few cases, you have to take the paramedical exam as a condition of your policy. In other cases, it’s to your advantage to take the exam or it will save you money.
You want the lowest rates in the market
Since life insurance is all about risk, the lowest rates will go to the most information. With accurate details from the paramed exam, you can shop for the lowest rates. These policies usually take longer to approve than no-exam policies, however if price is more important to you than convenience you will usually need to take an exam.
You need a higher policy amount
Higher policy amounts will come with an exam requirement, and this varies greatly by age and company. We know of some companies who will write up to $1,000,000 in life insurance without a paramed, and other companies that require the exam for anything over $100,000.
Generally speaking, younger applicants can apply for higher policy amounts without an exam, and most no-exam options exclude applicants over 60. However, anyone looking for more than $500,000 in life insurance is probably taking a paramedical exam.
You have an existing health condition
Almost half of all adults in the United States are suffering from one or more chronic disease. Cancer, heart disease, diabetes, obesity, arthritis and their complications affect almost 200 million Americans.
Chances are you may be in this group, and life insurance with most chronic health conditions is going to require a paramedical exam.
Is worthwhile to note: more and more life insurance companies are able to get a clear picture of your health without an exam. Speak to your life insurance advisor about the best no medical exam life insurance options available to you.
If you can improve your health class, you can lower your rates
As a veteran of thousands of life insurance applications and thousands of medical exams, we know what works and what doesn’t.
With some time and preparation you can improve the health class by acing your medical exam.
Acing this test can support your case and negate any other negative risk factors. Great blood pressure numbers, great blood labs and a complete exam can really make you shine to an underwriter.
What is this new shine worth? The difference between each life insurance health class is roughly 25% in annual premiums. Your medical exam could swing your rate up–or down–by one or two health classes.
So you could save up to 50% on your life insurance just by doing your best on the paramed exam.
You will have this life insurance policy for a long long time, so those savings can add up to tens of thousands of dollars over the life of the policy.
You know when the nurse is coming. It is not a “pop quiz.” Also, we are not advocating extreme lifestyle changes. Minor adjustments can yield major results in just a few days.
What if you only have one week be before the exam?
Cut out the sodium. Hi-sodium processed foods like lunch meat and mess with the electrolyte balance in your blood. This makes your heart work harder and blood pressure higher.
Exercise more. Drink alcohol less. Take a few cold showers, develop a habit of drinking lots of water.
Help! I only have one day before my exam!
Avoid shellfish, avoid alcohol altogether and make sure to drink a gallon of water throughout the day.
Skip the gym and any other excessive exercise, and get a great night sleep.
Think of ocean waves, or a peaceful forest, or imagine yourself stargazing. Think of anything that calms you and breathe deeply.
Using these techniques will help you lower your blood pressure the day before and the day of your exam.
What’s the bottom line?
It takes some effort and planning on your part. However, you can positively affect your life insurance medical exam, improve your health class, and lower your life insurance rates.
Check out all of the tips on the info graphic below. Afterwords we will add a bonus tip that could help you save even more money.
How to Pass Life Insurance Medical Exam
Lie down to take your blood pressure, keeping your arm with the cuff at or near the same level of your heart. The nurse will allow you to do this, and it may also save 5-10 points on the reading.
About the Author
Jimmy McMillan is the owner of Heart Life Insurance where he specializes in underwriting life insurance with heart problems. He has successfully approved clients with difficult heart issues like heart attacks, atrial fibrillation, cardiomyopathy, angioplasty, multiple stents and mitral valve disorders.
He is a fine fisherman who lives with the catch of his life, Emily, in Palm Coast FL.
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