By Mr. Samy Beshay: Questions about life insurance

Mr. Samy Beshay Expert in all kinds of Insurance

Is there a medical examination to obtain a life insurance policy?

Yes, the medical examination is a permanent part of the life insurance process, and there are also some life insurance policies. Still, usually, the coverage amounts are lower, and prices are higher than the insurance policies that require a medical examination.

Why do I do this medical examination?

Because the insurance company wants to get reports on the extent of the insured's health condition, many diseases affect the insured's life. And sometimes, the insurance company refuses to issue the document if the chances of death are high.

I have life insurance through my employer. Do I need to purchase an additional life insurance policy?

Assuming your employer provides insurance coverage, the coverage is not adequate. Even if your company offers a premium document, you will lose it when you stop working there. Coverage is coverage, and even if you already have life insurance, your employer's plan can act as an additional policy. In addition, one of the life insurance policy available through the employer is that it is without a medical examination.

How is the medical examination performed?

The insurer's testing company will take a measurement (pulse, height, weight) and a blood sample. And a urine sample as well, sometimes an electrocardiogram is required.

Can I go to my doctor for a medical examination?

The insurance company does not accept a medical examination by your private doctor. Usually, the technician comes to your home or office. And perhaps most importantly, a third-party diagnostic company is testing you - not the insurance company itself. The insurance company bears the costs of conducting the examinations, and the insurance company requests a medical report from your doctor after you sign the approval.

Is it allowed to lose weight before applying for life insurance?

Losing weight qualifies you for a higher (or better) rating and, therefore, lower premiums. But you can follow a strict diet and apply for life insurance pay less. Insurance companies require applicants to disclose if their weight has fluctuated more than 10 pounds (up or down) over the past year — and if so, you won't get the full credit, so to speak, for weight loss. Some insurance policies allow you to take a new medical test a few years after the policy takes effect, so you can talk about options with a broker if you recently lost weight or plan for some time shortly.

Do you think that smoking affect the cost of life insurance?

Of course, the cost of life insurance for a smoker is about three times that of a non-smoker.

Can you explain the factors affecting the cost of life insurance?

Surely. Details vary by company, but in general, there are six significant life insurance ratings, and they are listed here from best to worst: Preferred Plus, Preferred, Standard Plus, Standard, Substandard, and - you guessed it - Smoker. The price you fall depends on a whole range of health and lifestyle factors. What is the weight index? Do you drink regularly? Have you ever been treated for a severe illness? Are there dangerous practices such as car racing or mountain climbing and reviewing car driving records to examine if there are accidents or not or traffic violations.

Underwriter What is it?

He is the person who reviews the application of the insured and determines the cost of life insurance.

The insurance company account is tasked with knowing how risky you are to insure - or what rating you belong to. As mentioned, they will see the results of your medical examination and medical records.

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