Do all life insurance companies require a physical exam?
Whether or not a life insurance company requires a medical exam from people who are applying for insurance really depends on the company’s underwriting requirements. Insurance companies’ criteria are based on how old you are and how much insurance you’re applying for. Generally, an adult in their mid-30s applying for $100,000 of life insurance would not need to undergo a full medical exam, but might need to have urine and blood samples taken. Some companies require at least a urine specimen from everyone applying, no matter what the amount of the policy is.
Whether or not a life insurance company requires a medical exam from people who are applying for insurance really depends on the company’s underwriting requirements and the type of policy you are purchasing. Insurance companies criteria are based on how old you are and how much life insurance you’re applying for. There is no cost to you for the exam, and an appointment may be scheduled at your convenience in your home office.
Life insurance is an essential part of financial planning. One reason most people buy life insurance is to replace income that would be lost with the death of a wage earner. The cash provided by life insurance also can help ensure that your dependents are not burdened with significant debt when you die. Life insurance proceeds could mean your dependents won’t have to sell assets to pay outstanding bills or taxes. An important feature of life insurance is that there is no federal income tax on proceeds paid to beneficiaries.
Whether or not a life insurance company requires a medical exam from people who are applying for insurance really depends on the company’s underwriting requirements. Insurance companies’ criteria are based on how old you are and how much insurance you’re applying for. Generally, an adult in their mid-30s applying for $100,000 of life insurance would not need to undergo a full medical exam, but might need to have urine and blood samples taken. Some companies require at least a urine specimen from everyone applying, no matter what the amount of the policy is. Read The lowdown on life insurance medical exams to find out more.
