One of the most feared and frustrating components of obtaining life insurance is easily the medical exam that most policies will require you to perform. You may be wondering about the “why, what, who, where and how” of the medical exam, which we will happily explain right here!

What: When you apply for most life insurance policies, the issuing company will sometimes require that you complete a medical exam with their company representative to check on your overall health. If required, this testing will be mandatory for the issuance of a policy and failure to meet their standards could result in a denial or a higher premium than estimated. Even though it is important, it is actually a simple and quick exam.

When: The medical exam will be administered during the course of your application, and if required before you are accepted and a policy is issued. It is usually easy to make an appointment for a time that is convenient for you. Many companies even offer to have their medical representative meet you in your own home to administer the tests and to collect measurements. If not, you will likely be referred to a facility or clinic that can perform the tests.

Who: Whoever is applying for the insurance policy will be required to participate in these tests. And if you and your spouse apply at the same time, you will likely be able to schedule appointments at the same time to cut down on the hassle. Representatives from the insurance companies (who are typically nurses hired by the life insurance companies to complete the exams) or staff in a facility will typically administer the tests.

How: This medical exam could include a weigh-in and height check, medical questionnaire, bloodwork and/or urine sample to check for a number of health indicators including blood sugar and cholesterol among other things, blood pressure, etc. The better your check comes back, the more likely it is you will be approved at lower rates. The medical professional will also likely ask you a series of questions about your medical history, habits, and family history.

Why: When an insurance company issues a policy, it is a game of risk- a highly statistical and calculated risk assessment that lowers the risk profile to tip in their favor. The hope of the company is that you will never have to use your policy for premature death, allowing them to collect premiums for years without the obligation to pay your benefit. While it is also the insured’s hope to not have to use their life insurance death benefit, an applicant applies for the reason of protection in the case that it is needed. By checking your health and some standard measurements of risk based on factors that affect the longevity of human life, companies minimize their risk in order to offer you coverage at a price that extends an acceptable risk for them. The safer bet for them, the less you pay and vice versa. Not every company will be willing to issue your insurance, especially if you have had a major illness or have a chronic condition.

If you are planning to apply for life insurance, do yourself a favor and take care of your health in preparation (and of course afterward as well for your own well being.) If you are able to lose those few extra pounds before the exam, it could lower your cost. Don’t, however, put off getting life insurance due to weight or other factors. Good intentions have a habit of getting lost in the details of life and you don’t want to be caught unprepared without the insurance your family needs.