What To Expect When Applying for Life Insurance

life insurance exam

Death; it’s inevitable. But at least you can be prepared for it. I know that talking about life insurance is no fun. It’s depressing. Who wants that as part of their day? Unfortunately, there is no right or wrong way to approach it; you just have to. My husband and I have taken the time to get our wills and our life insurance in order; we have four kids and feel that we need to be prepared in any instance. This weekend was a long one for us in terms of discussing death, but it’s so imperative to do.

Last month, my father-in-law became quite ill. He has some heart issues, and we rushed to North Carolina to be by his side as he was rushed into surgery to undergo a double bypass. During surgery, the double the doctors thought he needed turned into a triple bypass. We were there for over a week caring for him and making sure that he was well. It’s been almost a month now, and he’s still not feeling better. In fact, he spent most of last weekend in the hospital undergoing more tests and meeting with specialists to find out why he still cannot breathe well and why he is still experiencing so much pain.

When we woke up Sunday morning to get ready for a beautiful brunch on the bay, my husband received a text from his father that was difficult to read. He was asking for some personal information of ours so that he could update his will and his insurance policies. He was asking if there is anything specific we’d like to have of his that he needs to notate in his will. My husband was, understandably, very upset. He doesn’t like to hear this from his 64-year-old father. He wants his dad to have a positive outlook and stop being so morbid.

I get both sides. He’s ill, he’s scared and he’s doing what he needs to go to get things in order. Mortality is feeling very real to him at the moment, but my husband doesn’t want to face that. I’m sympathetic to both, but I still hate those kinds of messages and thoughts. Unfortunately, these are things we have to face in our lives if we want to ensure we are able to care for our families. It’s far easier to deal with life insurance when you are younger and you are healthier; thankfully, my father-in-law already has it, too, or he’d find it difficult to obtain a policy with his condition.

The application process for life insurance is a bit more than many people realize when they are applying for the first time. I was shocked many, many years ago when I applied for my own policy and it was pretty similar to going to the doctor. If you’ve never applied before and are considering it now, you should familiarize yourself with the basics of the life insurance application.

A physical exam

You cannot obtain a life insurance policy without a physical exam. The company needs to know what you are like in terms of your health. Someone will come to your home or office and spend about 30 minutes going over a few things with you.

  • Weight
  • Height
  • Measurements
  • Blood sample
  • Urine sample
  • Blood pressure
  • A few other tests dependent on age and other health-related issues

An Interview

While the person from the insurance company is in your home performing these tests, you will also answer a long list of questions in an interview type session. Your life insurance company want to know where you work, what your family’s medical history is like and whether or not you have any dangerous hobbies. For example, are you a diver who likes to swim with the sharks on a regular basis or do you drive a race car or something of that nature? They want to know because those are considered dangerous and might have some effect on your policy.

The final process

Once you’ve completed the paperwork application, your health screening and your interview, your life insurance company is going to take the information that you provided and come up with a policy, a price and other information for you. If your health test comes back with any inconsistencies, it might have some effect on your policy. If you are healthy, you won’t have any problem getting a good policy for a good rate.

The process is not fun, and it’s not quick; but it is going to make a huge difference in case something happens to you and your family is left without you and your income to help them handle your finances and your funeral. Sadly, there is no time to wait to do something like this, either. Now is the time.

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