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Some insurance agencies or underwriters require a medical exam before they will issue an insurance policy. Most do. This exam simply confirms the information you provided in your insurance application to Michael Taylor Agency serving Columbia, SC.
Insurance companies refer to this as the paramedical exam. The insurance company pays for the medical exam. If you ask for a second exam to try for a lower insurance premium, you will need to pay for the second exam.
You can find no-exam policies, but the life insurance company uses your existing health records to determine eligibility. You must provide the company with permission to access your records, which means signing a HIPAA waiver.
Insurance Classifications
While you’re not just a number to your insurance company, you will fall into one of five categories. These categories include:
- Preferred Plus – excellent health, family history, and height/weight ratio,
- Preferred – Very good health with a minor health condition,
- Standard Plus – good health and family history, but inappropriate height/weight ratio,
- Standard – complicated family history and inappropriate height/weight ratio,
- Substandard – complicated family history and recent, serious medical condition.
The good news is that you can change the premium you have over time. You might start in the substandard category, but as years pass and you have better health, you would move up to a different category. Perhaps you started in Standard Plus, but you lose weight healthily. Since that was the only mark against you, you would vault into the Preferred Plus category. That would reduce your premiums significantly, as well as qualify you for a variety of policies reserved for the healthiest individuals.
Contact the Michael Taylor Agency serving Columbia, SC to apply for life insurance. It only takes a simple medical exam to qualify.
