First, understand that most applicants for life insurance are required to take a medical exam so the insurer can use the medical information to determine if you are healthy, how they should price your life insurance, and if they should insure at all.
Most people over age 30 or those requesting $50,000 or more of life insurance will be rehired to take a medical exam, but there are no exam life insurance policies available, which may cosy a little more.
The insurer pays for your medical exam and a paramedical examiner comes to your home to ask you questions about your health, test your blood pressure, and perhaps have you give a sample of your blood or urine which is sent to a laboratory for testing.
The insurer may also contact the M.I.B. (Medical Information Bureau) to access any medical records in your name, as well as, contact your doctor's for medical records to help in determining your longevity and to learn about your health history.
You agree to allow the insurer to review your health re3cords when you apply for your life insurance.
If you have been declined for life insurance before, it will probably show up in the M.I.B. report.
Here's how you can learn more about life insurance medical exams and how they work.