Do I Need A Medical Exam?

If you are looking for life insurance for elderly or burial insurance coverage, then you probably want a small policy to cover the costs of funeral expenses so that it does not burden your loved ones. This type of policy is permanent whole life insurance, which means your coverage will last for your lifetime and your premium will never increases. Policy amounts range from $2,500 to $25,000 and there is no medical examination required.

How Do Companies Evaluate My Health?

Since there isn't a physical exam needed to qualify, companies rely on other methods to determine whether or not you qualify. The application itself serves as the first screening process for life insurance companies. You will have to answer some questions about your health history, your smoking status, and sometimes your height and weight. Your answers to these questions will determine which type of coverage you are eligible for. Once you submit your application, many companies verify your answers because not everyone is truthful. A company can check your medical history report through the Medical Information Bureau as well as various prescription databases. Some companies further verify your health history by contacting your doctor.

What If I Do Have Health Problems?

If you have some health issues, then make sure that you are honest and open about it during the application process. This will ensure that you get approved for the right type of coverage. If you have some minor health issues such as high blood pressure or high cholesterol that is controlled with less than 2 medications, then you can usually get approved for standard rates with day one coverage. If you have some more serious health issues such as a recent heart surgery or cancer treatment within the last 3 years, then you may only qualify for a graded policy. This means that your policy will have a death benefit that is not fully payable until after two years. For those with major health issues, such as HIV or kidney failure, then the only type of policy available to you is a guaranteed issue policy.

Get Started Today

The first step when shopping for insurance coverage is to shop around. Rates can vary by as much as 70% from one company to another so it definitely pays to compare. Get a free quote today and compare rates from several of the nation's leading carriers.