Archive for the ‘Life Insurance Medical Questions’ Category.
In general, it will be necessary to undergo a medical exam to obtain full life insurance coverage. In order to properly assess the risk that your policy represents to the company, some basic medical information will be required for actuarial purposes. The insurance company will set your premium rates based on the amount of risk [...]
The answer is usually yes, you will have to give information regarding your medical state and finances. You might have to take medical tests. These are to help determine how much of a risk you will be to the company if they decide to insure you. They will most likely ask for some other information [...]
It is used only for underwriting insurance purposes. However, there is an organization known as the Medical Information Bureau (MIB), which is located in Boston. The purpose of this organization helps check the accuracy of some information that is asked for on applications, and because of this, certain excerpts from the application may be shared [...]
Sometimes life insurance is, indeed, sold under the promise that no physical exam will be required to be eligible for the coverage. This does not mean that you do not need to fully release any medical information they may ask for; if you do not, they have the right to cancel your policy. There is [...]
There are a couple of ways to get this information, if you are truly worried (though your company, by law, is not allowed to release your information to anything but the MIB). The first way is to simply ask your insurance company agent. You can also go to the MIB website (www.mib.com). Or, finally, you [...]
The answer to this question is not simple. Medicaid is a state-administered program. This means that the eligibility requirements can vary depending on where you live, and it is possible that a life insurance policy might affect your ability to be eligible for Medicaid benefits. Under federal guidelines for Medicaid and eligibility for it, life [...]
If you are facing retirement and you are seeking an individual life insurance policy instead of a group plan, as long as you convert before the cancellation date, or within 30 days of the termination of your old policy; you will not be required to submit yourself to a health examination. Many companies will cover [...]
If you become unable to pay your life insurance premiums due to disability or loss of work, there are a few options that may help. First, many insurance policies include a temporary waiver of premium payments in the event of temporary unemployment or disability. You should check your policy to see if you can invoke [...]
Yes! There are options. You can try group insurance and guaranteed issue life insurance policies that may be good choices for you, if your disability leaves you in a position that you can’t acquire medically underwritten life insurance. Group insurance does not require individual underwriting, because it is spread out over a group of policyholders, [...]
For people who are disabled and need insurance, there is always the option of a group life insurance policy. No longer do disabled people have to worry about not being able to have insurance, or that they have to depend on others for their insurance. Many companies do not ask people who apply to state [...]