Why You Should Have an Insurance Blood Test
Posted by Terry Robbins on Wed, Feb 08, 2012 @ 03:47 AM
Should you avoid a life insurance blood test? You may worry about what the results of the test might show, or just hate the idea of needles. It is possible to get life insurance without undergoing a medical check-up and lab tests, but it really isn't worth it. It's more expensive and gives you fewer options.
Blood Tests Help You Get a Less Expensive Policy
Life insurance policies which do not have a blood test cost more because the company doesn't have as much information about you. Moreover, you will pay more for that same coverage year after year. Furthermore, all insurance companies ask medical questions and whether you are a smoker or not.
Insurance companies base their rates on your health and lifestyle risks. You need to be in very good health to get a non medical exam policy. So to get the best price on life insurance, you should undergo a medical exam and life insurance blood test.
An Independent Insurance Agent Can Help You Get the Best Deal
Frankly, most life insurance companies have similar pricing for people with the same health rating. Getting that rating may differ from carrier to carrier because their underwriting guidelines will not be the same. An independent life insurance agent will be aware of differences in underwriting between carriers and steer you toward the company that will more likely give you the better rating (and therefore the better pricing).
Also the details of policies are different (for example conversion options). It is in those fine details that you can get the best deal, but figuring out the best policy for you is complicated. An independent insurance agent, who knows the ins and outs of many different policies, can evaluate your particular situation and health history and help you choose the best life insurance company for you.
What Can You Expect from the Life Insurance Blood Test?
You don't have to go anywhere to get the medical exam and life insurance blood test, and it won't cost you anything. Your independent agent will schedule a paramedic to come to you at your convenience. They will check your height and weight, blood pressure, pulse, etc. and then draw blood, which will be used for several tests which indicate:
- Blood Sugar Levels: short and long term.
- Kidney functioning.
- Bone and blood problems.
- Liver functioning and liver disease.
- Smoking.
- Drug Use.
The Bottom Line
You choose life insurance in order to get financial security, and a life insurance company gives you a policy rating based on your life insurance risk. A Life Insurance blood test let the insurance company estimate your risk. Avoiding them won't help you. What will help you is to have an independent agent guide you in choosing the best policy for your health and life situation.
Photo credit: Neeta Lind