As is the case for many individuals considering applying for life insurance, it can be nerve wracking to understand the processes that the insurance companies use to evaluate your application and determine whether or not you are eligible for coverage. The ramifications of the company reviewing your application in conducting various tests can be significant as it could lead to a claim approval or denial or it can lead to a classification of a different rating, making it more expensive for you to receive coverage.
In summary, here is what you will learn in this article:
- The life insurance companies do administer a blood test during the medical exam.
- This exam is short and takes place at a time and place of your choosing.
- They test for everything: blood sugar, cholesterol, nicotine, drug use, hormone, etc.
- They do this to determine your eligibility for coverage as well as the rate you will pay based on your level of risk.
- There are things you can do to get more favorable results.
- You can request your blood test results.
- You can skip the blood test with a no medical exam policy but there are pitfalls.
There is no need to get nervous about a life insurance blood test. In fact, many people make the mistake of making too much of it and avoiding getting the testing done. Bear in mind that this is nothing more than a typical requirement for life insurance and that so long as you have told the truth on your application, there is no reason to fear it. Speaking with your life insurance agent well in advance can give you a better idea of what to expect and help you stay calm on the day of the test so as to set yourself up for optimal results. Although you might still have questions about what to do, being calm and understanding why the company needs this test can help you approach it with a better frame of mind.
What Is a Blood Test for Life Insurance?
A blood test for life insurance is required by many different life insurance companies today because it gives you a better picture of the health on the day that you apply. Although you fill out a comprehensive application with each company that you apply for a policy with, your blood test simply verifies the general claims you have made about your health.
Although many individuals tell the truth the first time around on their life insurance application, the blood test is simply the life insurance company’s way of being sure that you are as healthy as you claim to be. Some individuals might not even be aware of conditions they have until they receive notification back from the insurance company about the results of their blood test. Although your medical records represent your past, your blood test is the best representation of your current snapshot. If you’re like many individuals going through the process of applying for life insurance and are concerned about the blood test, you’re not alone. You probably have several key questions, including:
• What are they looking for in my blood test results?
• Why do they really need it?
• Is this worth the hassle?
• Are there alternatives?
What is the Life Insurance Blood Test and How Do I Need to Prepare for It?
When you apply for life insurance, the companies are evaluating you as a potential risk. In order to do this and determine the appropriate risk class, they need to determine your current health standing. They look at information such as your blood test results compared with your gender, age and basic policy information in order to determine the appropriate premium to charge you. In some situations, the premium rate class that you receive may be different from the one that you applied for. This is why it is imperative that you be as knowledgeable as possible about what life insurance companies are looking for and consider all of your options in determining the right policy to apply for.
Certain carriers, for example, will be friendlier towards various medical conditions than others. So it’s a good idea to talk to your insurance agent beforehand if you have specific concerns. Your life insurance blood test results give the carrier very key health information about you that allows them to make precise estimates about the state of your current physical health.
Without evaluating all of these risk factors using data points, it could be very difficult to arrive at an appropriate amount to charge you. This means that the insurance company will be responsible for carrying extra risk. The less of a risk that you represent to the insurance company, the lower your premium will be. As a result of this, it is in your bets interest to undergo any exams requested by the life insurance carrier in order to show that you truly are healthy. The individuals who receive the best life insurance rates when applying, are those who complete the exam and have good results from it.
Why Do They Need a Blood Test?
A blood test is required for life insurance because it helps the insurance company correctly assess the risk you represent to them. There are multiple reasons that insurance companies today continue to use this process. Some of them include:
• It is confirmation that the information you indicated on the application is true.
• It could reveal your use of prescription medications that you did not mention in the application.
• It could reveal illicit drug use.
• It could reveal use of marijuana or tobacco that was previously undisclosed.
It is your responsibility to answer your application questions in a way that is not misleading. An insurance company is wary about covering an individual who appears to have lied or omitted information on his or her application. This is why it is strongly recommended that you work with a life insurance agent when completing your application so that you know what to expect and so that you have the best possible chance of answering these questions appropriately.
Sometimes the questions on the life insurance company’s application can be confusing, which is why having a resource like a knowledgeable life insurance agent can help you figure out the best way to answer the questions so that you are providing accurate information to the insurance company.
Some companies use the blood test as a critical part of your application, so it’s important not to skip the test with the examiner. Doing so could give the insurer a reason to delay your claim, causing problems with your application. After you have decided to get life insurance, you should not do anything that might hold up the processing of your policy. If your policy is not yet active and something happens to you, your family members would be the ones suffering without the proceeds from the policy. It’s better to comply with the insurance company’s request for the blood test and allow them to handle the processing from there.
To recap, the insurance company is essentially using the blood test results to determine that you are in good health. This can help you accomplish the goal of getting life insurance, and if you’re in good health, it could lead to a good rate class where your premium costs are low. Although it might be nerve-wracking to think about going through a blood test, you should always approach the process with an open mind and be sure to keep your appointment. The blood test is a safety check for the insurance company and it helps to move your application to the next phase of processing, so try not to hold this process up.
Tips for Scheduling Your Exam
As soon as you have finished your application, signed it and given it to your life insurance agent, it’s a good idea to set up your medical exam right away. Your agent can even help you if you provide him or her with a convenient date and time that you would be available for this exam. There are several tips that you can use to help give yourself the best chance with optimal results for your life insurance blood exam.
Schedule As Soon As Possible
48 to 72 hours is the general guideline for getting your medical exam done. This is because during the first 2-3 days after you have submitted your application, your MIB history, your application processing and your motor vehicle records have begun being evaluated by the company. Getting a life insurance policy can take a little bit of time and every day that you wait to complete the exam pushes this date even further out. Little else can be done to review your case at the life insurance company until your medical results have been received.
Schedule Early in the Day
Typically your life insurance blood exam will require fasting for 6-8 hours before you go. If you are sleeping, you’re not eating and this makes it a lot easier to avoid the negative effects of going without food during your typical work day.
Give Yourself Plenty of Time
Your medical exam is very important so try not to squeeze it in between other events. Although the exam typically only takes between 15 and 20 minutes, it certainly could be longer. Some policies’ amounts or certain companies might require EKG in addition to the blood test, for example, and you want to have extra time and decrease the chances that you will be feeling stressed out.
Avoid Alcohol
Although one glass of wine or one beer certainly won’t do too much harm, it’s better to avoid partaking in this activity in the days leading up to your exam. Try to schedule your appointment during a time in the week when you’re unlikely to be engaging in bad habits with alcohol or food the night before. This gives your body the best chance of success on the day of the big blood test.
Eat Intentionally
Eat light the night before you have your exam scheduled. Many different ranges in your blood profile can be thrown off if you alter your diet too significantly or eat foods that are not very nutritious for you.
Drink Water
Make sure you stay hydrated in the days leading up to your medical exam. This is just advice for your overall health, anyways, so make sure that you are always getting plenty of water. You want your body to be in the best physical condition it can before going in for your testing, and this includes staying fully hydrated.
Avoid Stimulants
Too much coffee or energy drinks can be negative in terms of your life insurance blood exam because this can raise your resting heart rate and your blood pressure, and may adversely impact your test results. If you’re going to have your normal cup of coffee, that’s recommended as it will help keep you calm and avoid any impacts like a caffeine headache, but try not to go overboard. This is again why it’s a good idea to schedule your appointment early in the day when you are the most refreshed.
Continue Prescriptions
You should never stop taking prescription medications as you prepare for your blood test. You want the life insurance company to receive an accurate picture of who you are as a healthy applicant and altering your internal balance by skipping prescription medications that you regularly take can do significant damage.
Relax
Simply staying healthy, calm, and giving yourself plenty of time to complete the exam can be extremely beneficial when you are concerned about the exam results. If you have more specific questions about your life insurance blood exam and what you should expect going forward, it’s a good idea to set up a meeting with your life insurance agent as soon as possible. It can be extremely beneficial to have all of the facts before you go ahead and schedule the exam so that you are as calm and prepared as possible on exam day.
Can I Redo my Test?
If you find that you are not satisfied with the blood test results and know that something about is off you can request to retake the exam. Often people can get nervous around nurses or consumer something the night before that caused their levels to soar or dip beyond normal. If you think this is the case and it doesn’t match your past doctor’s records then you can request to retake the blood test.
Can I Skip the Blood the Test?
Yes there is a way to skip the blood test and the life insurance medical exam altogether. There are simplified issue life insurance plans that require no medical exam but do require good health. While you get to skip the medical exam, the life insurance companies will still look at your medical record to see past history of health. To qualify for these policies you have to be in fairly good health. Most of these plans can be a bit more expensive and have caps on the coverage amounts you can get. You can learn more about them here.
Blood Test Results
If you want to review your blood test results, they are available upon your request from the life insurance company. Your life insurance agent can tell you more about what to expect so that you can set yourself up for success when you have the life insurance blood test done.
The good news is you are at the right place. We are an interdependent agency that represents over 60 A-rated life insurance companies and shop around to get you the best rate, at no extra cost to you! We have a lot of experience with the life insurance blood test and can guide you in the right direction. If you have any questions give us a call at 888-492-1967 or hit the chat button below. Welcome to InsureChance!
