What to expect when you apply for insurance

Application

Please answer all medical and financial questions fully, with as much detail as possible. This will ensure a quick and accurate underwriting process by the insurance company. It also ensures that the insurance coverage you are purchasing is not jeopardized by non-disclosure of information. Once you are satisfied the application is complete and accurate we will both sign and date the application.

Submission

As your advisor, we will forward your application for submission to the insurance company.

Underwriting

When the insurance company receives your application, it is assigned to an underwriter for risk assessment. The risk is assessed based on all aspects of your life including Occupation, Avocation, Financials, Medicals, Lifestyle, Travel and Insurable Interest (Beneficiary).

A life insurance company assesses the risk of issuing a policy to you based on certain parameters. In the same way that a good driver gets favorable rates from an auto insurer, if you are a good risk both financially and medically your life insurance premiums will be lower or you will be able to purchase more coverage.

As part of the underwriting process a number of items may be required:

Medicals

It may be necessary for you to have some medical tests performed based on your age and the amount of insurance you have applied for. The insurance company contracts medical professionals to perform these tests or interviews. The most common requirements are a paramedical exam, blood and urine analysis, and a nurse will contact you to schedule an appointment. These requirements are necessary to verify the medical information completed on your application and for risk assessment. Please note that the nurse cannot answer any questions you may have regarding the insurance coverage. Upon receipt of the test results the underwriter will review the case and make an offer/decision.

Pre-Testing Procedures

• Write down all your significant illnesses, dates, names and addresses of MDs’ treatments and bring this to your paramedical examination.
• Write down any FAMILY history of cancer, heart attack, angina, bypass surgery, stroke, emphysema, chronic bronchitis, diabetes and any genetic diseases and bring to the exam.
• Bring to your exam all current medication that you take in their original prescription bottles. If this is a problem then bring a list of all medications with their name, strength (dosage), and instructions on how you take them. Make sure that you continue to take all your current medications, including on the day of the exam, even if you are fasting.
• Have photo ID ready for the appointment, as this will be needed for identification purposes. (Drivers license or passport)
• If you have need of an oversized blood pressure cuff or large scale (over 300 lbs) please inform the nurse in advance.
• Avoid alcohol the day of your examination and limit the amount of caffeine.
• Avoid heavy exercise, especially contact sports and activities such as long distance running, before your blood and urine test. Try to allow a gap of at least 24 hours. If you are suffering from some injury such as contusions or have just run a marathon, etc., inform the nurse so that the home office underwriter will be informed and can better interpret your laboratory results.
• If you are pregnant please inform the nurse, as this will help the underwriter to better interpret your laboratory results.
• If you are in significant pain (a severe toothache, migraine), you are suffering from a viral illness, or have a fever consider postponing the examination and blood/urine test.
• Wear a shirt or blouse with short, loose fitting sleeves.
• Drink lots of water prior to the exam to facilitate urine sample collection and also an easier blood draw.
• Be well rested and relaxed for your appointment.

Testing Procedures

Paramedical Examination

• The nurse will be asking a series of health questions similar to the questions already asked on the application form.
• Some of these questions will include names and addresses of physicians and hospitals, any illness, surgery, medication or other treatments you may have had.
• The nurse will take blood pressure, height, weight and urine sample.
• The paramedical exam usually takes 25-30 minutes depending on your health history.

Blood

• The nurse will have you sign a consent form.
• The nurse will take 2 vials of blood, approximately 25cc and a urine sample.
• The procedure will take a maximum of 15 minutes.

Some of the tests in a blood profile may include:

• HIV virus
• Sugar
• Kidney and Liver profile
• Cholesterols and blood lipids
• There are approximately 16 tests done on the blood.

Urine HIV

• The nurse will have you sign a consent form.
• The procedure takes approximately 10 minutes.

Some of the tests in a blood profile may include:

• HIV virus
• Cocaine and the presence of other drugs
• Nicotine
• Medications
• Micro urinalysis (the urine sediment is centrifuged and examined microscopically for crystals, casts, red blood cells, white bloods cells, and bacteria or yeast)

Saliva Test

• The nurse will have you sign a consent form.
• The procedure takes approximately 10 minutes.
• Your advisor can take the saliva sample if you so choose.

Some of the tests in a blood profile may include:

• HIV virus
• Cocaine
• Nicotine