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The typical exam is called a "Paramedical Exam" or just "Paramed," and
contains history, height, urine, blood samples, blood pressure, and
pulse. A hair sample is typically not included in this exam.
Please see the 4 samples below from different insurance carriers.
"A routine examination includes your medical history, height, urine
and blood sample, blood pressure and pulse. The exam is usually
completed within 30 minutes."
Intelliquote
http://www.intelliquote.com/medexam.asp
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"This routine examination includes your medical history, height,
weight, blood test, urinalysis, blood pressure and pulse. It usually
takes 20 minutes at the most, to complete."
Zurichdirect
http://www.zurichdirect.com/faqs.jsp?partner=Zurich
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"Our routine examination includes your medical history, height,
weight, urinalysis, blood pressure and pulse. The exam is usually
completed within twenty minutes. If additional testing is required
such as a questionnaire, electrocardiogram (ECG/EKG) or a blood test,
you will be notified in advance."
TermOnline
http://www.termonline.com/life-insurance-medical-examination.htm
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"The examination includes height, weight, pulse, blood pressure and a
medical history questionnaire. The examiner will also obtain a urine
specimen and a blood sample. Depending on the insurance amount and the
applicant's age, an EKG may also be required."
FCLifeNet
https://web1.fclifenet.com/ssl/sp/fclifenet/products/premier/premierfaq.asp
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A variety of factors could affect one's candidacy for an insurance
policy and the premium he/she pays. Life Insurance companies perform
what is called "medical underwriting" to assess one's candidacy and
premium rates.
Factors taken into consideration by a firm called Zurich Life
[ http://www.zurichkemper.com/products/our_underwriting.asp ] include:
* Your current health and physical condition.
* Your medical history.
* Personal habits (including tobacco usage and any history of alcohol
or drug abuse).
* Your occupation (a coal miner, for example, presents a greater risk
than a bank employee).
* Your avocations and hobbies (auto racing is a hobby that carries
additional mortality risk and will increase the policy premium).
* Your age (a 60-year-old applicant will pay a higher rate than a
35-year-old).
* Your gender (except in states with unisex rates; rates for females
are lower than comparable rates for males at a given age since women
enjoy longer life expectancies).
For example, a tobacco user presents a higher risk and has a shorter
life expectancy than a non-smoker. Therefore, a smoker will pay a
higher premium (almost double) for life insurance than will the
non-smoker for the same amount and type of coverage."
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See Quote Navigator at http://www.quotenavigator.com/underwriting.htm
for a specific chart on underwriting guidelines.
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Please see this site for some very specific information and a study on
this very topic:
Life Insurance Underwriting Guide
http://www.life-insurance-underwriting.org/
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The following article delves into this specifically; talks about Japan
and the U.S.:
What Determines the Price of Life Insurance?
The Trend Toward Detailed Risk Selection
by Munekazu Kawachi
Life Management Research Dept.
http://www.nli-research.co.jp/eng/resea/life/li9708.html
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Here are some additional resources:
Three factors determine premium costs.
1. Mortality Cost table: Illustrates the death rate at various ages
See
http://www.ronblackagency.com/MORTALITY.htm for an illustration.
2. Interest - the insurance companies expected rate of return.
3. Expense cost - the commissions and related underwriting
4. Expenses incurred to write the policy.
Ron Black Agency
http://www.ronblackagency.com/frequently_asked_life_questions.htm
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"You should answer all questions on the life insurance application
truthfully and to the best of your ability. Misleading or deceitful
answers could result in the cancellation of your policy and return of
premiums paid. This could affect your ability to obtain life insurance
coverage in the future."
RebateInsurance
http://www.rebateinsurance.org/FAQ-LifeApp.asp
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"Medical history, cholesterol and blood pressure levels, height/weight
ratios, family history and hazardous sports are all considered
important."
Accordia
http://www.pqins.com/PQ_FAQ.htm
============
Additional Links:
Everything you wanted know about a Paramedical Exam
http://www.hooperholmes.com/paramed.asp
Understanding Underwriting
New York Life
http://www.newyorklife.com/NYL2/Article/0,1234,10996-10-6,00.html
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Paramed |
