What Questions Are Asked on a Life Insurance Application?
Depending on the type of life insurance policy you're applying for, you should be prepared to answer several questions regarding your past and current health, occupation and lifestyle. Fully underwritten policies usually require you to pass a medical exam before they will approve you for a life insurance policy. Here's what you may be asked about.
What to Expect on a Life Insurance Application
Common Application Questions
In general, you can expect the life insurance application to ask questions about:
- Medications you take (prescription and over-the-counter)
- Surgeries you've had
- Your family's medical history, including cases of heart disease, high blood pressure, diabetes and cancer
- Your tobacco and alcohol use — It is extremely important to provide factual answers on the application. Failure to do so could void the policy.
- Your age
- Your occupation — People working in high-risk occupations may have to pay more for a life insurance policy
- Your hobbies — Skydiving, rock climbing, scuba diving and racing are all hobbies that can drive up the cost of your life insurance policy
- Your driving record — Traffic violations, DUIs and speeding tickets can all cause your life insurance premiums to go up
What to Expect on the Medical Exam
If your life insurance company requires you to take a medical exam as part of the application process, the following will likely be examined:
- Vital signs — pulse, blood pressure
- Blood sample, to check cholesterol and blood sugar values (among others)
- Urine sample
- Some policies may require an electrocardiogram (EKG)
If you're concerned about passing a medical exam, it's possible to buy a policy that doesn't include one. Keep in mind that they are likely to be more expensive than a fully underwritten policy.
A simplified-issue policy doesn't require a medical exam, but does require health questions. Issuance of the policy may depend upon answers to health questions set forth in the application and the policies may have a graded death benefit for an initial period of time. A guaranteed-issue plan doesn't include a medical exam or health questions — issuance is guaranteed. However, these policies are generally restricted to people within a certain (older) age range (50-85 years old, for example) and benefit amounts are usually smaller. They may also have a graded death benefit for an initial period of time.
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Life Insurance Direct: www.lifeinsurancedirect.com/life-insurance-products/
*Applications for insurance may be subject to acceptance by insurer. Rates and coverage amounts will depend upon the carrier selected.