Should Seniors Get Life Insurance Medical Exams?

Life insurance is often considered advantageous for a wide range of adults, both young and old. However, some older adults may find the cost of a policy higher than in previous years Benefits of life insurance for seniors may still be significant. And, despite conventional wisdom, they don’t always have to be excessive priceis

That said, the life insurance application process for older adults can look a little different in terms of the amount of the application and the reasons supporting it. And many adults would benefit from sitting for traditional medical examination While life insurance endorsements are often required, the benefits of doing so for seniors aren’t always so clear. There are good reasons to take the test and better reasons not to, both of which we’ll explore further below.

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Should Seniors Get Life Insurance Medical Exams?

The answer to this question really depends on the individual and their health at the time of application. Here’s what to know.

When Seniors Should Get a Life Insurance Medical Exam

Older people in good health, who do not smoke and have no history of smoking should strongly consider taking a life insurance medical exam. These tests are similar to those experienced at annual check-ups with their primary care physician. So expect to get some routine blood work done. Applicants will also have their urine tested and their blood pressure checked and answer a series of detailed questions from a qualified medical professional.

Seniors in good health can underline their condition by pointing to the results of a medical exam. This will help reduce the inherent risk that the insurer is taking by issuing a policy to an older adult. And this will go a long way in reducing the premium charged to the applicant Healthy seniors, confident that a medical exam will prove their health (and not hurt their application), should get tested and enjoy the lower premiums they secure because of it.

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When Seniors Should Skip a Life Insurance Medical Exam

Veterans who feel that a medical exam may hinder their application (if not reject it outright) should skip this step in the process and go directly to one. No-examination policy, instead. when No-test life insurance is more expensive It’s often better to take a policy and risk rejection than to go this route and proceed with a test rather than policies that are included in the test.

Despite the price, No-Exam life insurance is still valuable for many seniorsEspecially considering that it can be used in conjunction with both complete or Term life insurance policy

Another reason why seniors want to go without testing? They can get approval faster.

Scheduling a life insurance medical exam can take days, if not weeks. Once the results are completed they are then sent to the provider for review, at which point they will either approve the initial application amount, offer a lower amount, or possibly reject the application entirely. All this takes time that could be spent elsewhere. By skipping the test, seniors are essentially guaranteed approval—they free up time to go through the motions if they choose another type.

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Bottom line

So, should seniors take life insurance medical exams? It depends on how healthy they are and what kind of risk they are willing to take if testing reveals problematic issues. For those who are confident in the potential outcome, taking a life insurance medical exam makes sense, if only to help secure lower monthly premiums. For seniors worried that a test might hinder their application, however, it’s probably best to skip the test, speed up the process, and go the no-test life insurance route.