Medical Exams Can Mean Affordable Term Life Insurance

 

 

When shopping term life insurance rates, one truth quickly becomes apparent. The most affordable term life insurance requires a medical exam. It might be tempting to choose term insurance that doesn't, but it could cost you thousands.

Why?

Life insurance rates are based on whether or not you are likely to die during the insurance term. Life insurance carriers weigh different factors, such as age, medical history and health conditions.

 

Why term life insurance rates aren't as affordable without an exam

If you don't have a medical exam, the term life insurance carrier has no clue how healthy you are or your likelihood of dying. They must then share the risk of mortality among the policies and average the cost. People with a greater risk of dying pay the same life insurance rates as those who are healthy. This might work for them, but what about you? What might have been affordable term life insurance just got an "unfair" rate hike.

Simply put, if you are low risk, you basically pay for others who aren't. For example, if you have good cholesterol numbers, normal blood pressure and a healthy heart, you could be spending thousands over the life insurance term to pay for others with high cholesterol, high blood pressure and heart disease.

 

Life insurance rates based on your life

This is why cheap term life insurance is typically "medically underwritten," requiring an exam. It allows the carrier to accurately pinpoint your risk of dying. This clear picture allows them to place you in the appropriate life insurance rate class and base your life insurance rate on your individual situation.

 

The term life insurance medical exam explained

The medical exam is simple and usually takes 20 to 30 minutes. You don't even need to change into a medical smock. It can be done at your home or office. Your licensed term life insurance agent will arrange it for you. And even better news? It doesn't cost you a dime!

 

Medical exam tips to help get the best life insurance rates

To get affordable term life insurance, you want to demonstrate good health and prevent any false adverse test results. For example, you won't want to do anything that might temporarily elevate your cholesterol or blood pressure.

• If you are sick or recovering from surgery, ask to reschedule. When your system is out of balance, it could negatively affect your test.
• Avoid strenuous exercise for 24 hours. In addition to tiring you out, it can elevate liver enzymes, and incorrectly indicate something is amiss.¹
• In the days preceding the exam, drink plenty of water (you should anyway!). Staying hydrated is good for health, and will help with the urine sample.
• Avoid alcohol, decongestants and pain medication for at least 12 hours (ideally more) before the exam. These can cause abnormal liver test results.²  Keep taking any prescription medications as directed, however.
• Do not drink caffeine for 12 hours before the medical exam. Caffeine can temporarily raise blood pressure.³
• If possible, fast for 12 hours before the test. Food can skew the blood test results in several ways (e.g., show misleading cholesterol numbers).

Following these few tips can help you get the cheap term life insurance you deserve. The medical exam is designed to make life insurance rates fair. It only takes minutes, and can mean a lifetime of savings!

Sources:

1. David C. Dugdale, III, MD, Professor of Medicine, Division of General Medicine, Department of Medicine, University of Washington School of Medicine. Also reviewed by David Zieve, MD, MHA, Medical Director, A.D.A.M., Inc. http://www.nlm.nih.gov/medlineplus/ency/article/003472.htm

2. Rosalki SB, McIntyre N. Biochemical investigations in the management of liver disease. In: Bircher J, Benhamou J-P, McIntyre N, Rizzetto M, Rodes J, editors. Oxford textbook of hepatology. 2nd ed. Oxford: Oxford University Press; 1999. pp. 506-509. http://www.ncbi.nlm.nih.gov/pmc/articles/PMC26581/

3. American Heart Association http://www.americanheart.org/presenter.jhtml?identifier=3057632