Medical
When writing life insurance for either whole life or term life insurance, there is a need for a certain amount of medical information to validate the person being insured is eligible for coverage.
The medical requirements come in the form of three subsets of data:
- Medical questionaire that is part of the application. Questions like- is the insured HIV positive? or Does the applicant have diabities? What type of medication is being taken and how is the applicant’s doctor? **
- A medical exam is also part of the underwriting and application process. A person comes to you and takes a blood sample, checks the applicant’s weight and height, and also takes a urine sample. Other information is blood pressure, oxegen level of the blood, and heart rate. This step is scheduled with the applicant and is done a location of choice. *
- Doctor records are obtained from your primary physician and other specialists as needed. *
* This information is ONLY released to the insurance company and no data about these records are conveyed to the insurance agent or other personnel outside of the insurance company’s underwriting department.
** This information, although collected by the agent, is kept in strict confidence and is not released to ANY personel in the agent’s office. This information is released only to the insurance company’s underwriter for underwriting of the Life insurance policy.
Life insurance policies for employees are underwritten differently. There are no underwriting requirements except for three questions on the application pertinent to the health condition of the applicant. See: Employer Life Insurance solutions.
