8 Steps to Buying Whole Life Insurance: Step 6

When buying whole life insurance, you'll soon find that a medical exam is part of the process. After all, the insurance company needs to have a better understanding of your overall level of health.

In step 6, it's time to prepare yourself for the medical exam. While this sounds tricky, it's actually quite simple. As long as you are thorough, as long as you provide accurate information, everything will move forward in an efficient manner.

This all starts with the life insurance application. You should be 100 percent honest in regards to your health, as any inaccuracies will come to light once the medical exam is complete.

For example, if you're a tobacco user, make note of this on your application. You may think you can hide this, but the medical exam will tell your company the truth.

Note: if you lie on your application, you risk your death benefit not being paid. This isn't a risk that you want to take.

Here are a few additional steps you can take to prepare for the medical exam:

• Get ready for the basics. This isn't the most advanced medical exam you've ever gone through, but it will include all the basics: height and weight, pulse, blood pressure, urine sample, blood sample, and blood pressure.
• Don't drink alcohol in the weeks leading up to your medical exam. This may not sound like a big deal, but you don't want alcohol to show on your blood test. A lack of alcohol in your system will look better to the underwriter reviewing your case.
• Find out if you need to fast. The insurance company should tell you if you need to fast. If they don't, make sure you ask this question. Neglecting to fast when it's required could lead to inaccurate results that work against you.

Generally speaking, a medical exam is meant to screen for these three major health concerns: cancer, cardiovascular disease, and diabetes. If you have or had any of these ailments, it's safe to say that your premium will be higher than if you were 100 percent healthy.

Tip: since your health has a lot to do with the approval of your whole life insurance application, as well as the premium, it's best to purchase a policy when you're young. This is when you're at your best in terms of your health, so it gives you the opportunity to lock in the lowest possible premium.

Conclusion

Preparing for a life insurance medical exam is not as challenging as it sounds. If you follow these tips, you'll be ready for anything that comes your way.