You’ll need to provide your full medical history when applying for life insurance, and some insurers will require a medical exam. But if you’re prepared and know what to expect, the application process will run smoothly.
During the application process you’ll be asked questions about your height, weight, date of birth, smoking and drinking habits, exercise habits, your income and any assets you may have.
If you need to undergo a medical exam, insurance companies will either send a medical professional to your home or office at a time that’s convenient for you, or arrange for you to meet at their office. The doctor or nurse will assess your health through various tests.
Once your application is complete, one of several things may happen. You may be offered coverage straight away, you may be required to take additional medical tests, or you may be denied coverage.
The cost of the insurance premiums you’ll pay is based on your risk level, or how likely it is that an insurer will need to pay out a death, disability or critical illness benefit. If you have any medical problems, you pose an increased risk to the insurer and you’ll have to pay more for your premiums as a result.
Your family’s health history can affect your rates, too. As part of the application process, you’ll be asked questions about your parents’ and siblings’ medical histories. Insurers typically don’t take into account age-related ailments from family members over 60, 65 or 70 years old.
You can expect to pay more for coverage if you have a pre-existing condition or a family history of the following conditions:
The guidelines vary between providers. Some insurers might only hike up your rates if a parent suffers from one of those conditions (rather than a sibling). Others will only charge higher premiums if a family member succumbed prematurely to a serious disease – the diagnosis by itself holds less sway. And some insurers are more lenient about mental illnesses like Alzheimer’s.
To find out exactly how your family history will be evaluated, ask the insurer when you apply for coverage.
If you’re adopted and don’t know your biological family’s medical history, your insurer may not penalize you. They might instead calculate your rates based on your personal health history only.
Once you submit your application, your insurer will send a medical professional to your home or office to complete a medical exam. You generally can’t have your own doctor perform the exam, but you can choose the time and place. The whole thing may take only around 30 minutes. You might be automatically given your medical test results, or you may have to request a copy.
The medical professional will typically start by asking about your personal and family’s health history. They’ll then conduct a physical exam, which may include:
The medical exam is designed to determine how healthy you are. Healthy applicants are privy to better premiums, while those with serious health conditions or poor family health histories may pay more for life insurance – or be denied coverage altogether.
Insurers are looking for red flags like:
To help the test go smoothly, it’s best to understand what to expect and how to prepare for your medical exam. Here are a few tips:
Life insurance companies confirm the details you provide with a few different sources:
When you submit a life insurance application, you’ll need to agree to the insurer collecting this data.
The Medical Information Bureau (MIB) is a service that protects life insurance companies from risk and fraud. Think of it as the medical version of your credit report. The MIB doesn’t reveal your entire medical history. Rather, it just highlights red flags that are important to underwriters. You’ll only have an MIB Consumer File if you have applied for life or health insurance within the last 7 years.
When you apply for coverage, your insurer will check your MIB record to make sure the information you provided is consistent with past applications. The report your insurer gets includes information on the following:
The MIB allows Canadians to request a free copy of your MIB Consumer File via the site. In addition to your medical history, your report will include the names of insurance companies that made inquiries within the past 2 years. If you find any errors in your file, you can dispute them with the MIB.
No. If you don’t want to disclose your family medical history because you think it might lead to higher rates or disqualify you for coverage altogether, apply for a guaranteed issue life insurance policy. This type of policy skips both the medical exam and health questionnaire — but it’s expensive.
For all other policies, your insurer will most likely pull your medical records as part of the underwriting process. If the information doesn’t match your application, you may be charged a higher rate or denied coverage.
Life insurance with a questionnaire but no medical exam
The healthier you are, the less you’ll pay for health insurance. And if you already have a policy, you can ask to be re-evaluated if you’re healthier now than you were when you took the policy out. To get the best rates:
Here are several of your life insurance options, check the compare box below any four providers, then click compare to see the details listed side by side.
The most common mistakes people make when applying for life insurance include:
The healthier you are, the less you’ll pay for life insurance. But that doesn’t mean you should wait to take out coverage until you hit your goal weight or quit smoking. Compare life insurance policies to find one that fits your needs, medical history and budget.
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