You want to provide for your family when you die. But, the life insurance company taking on the risk will need to charge you for your policy. Now they want you to pass an exam for life insurance!
Did you know: The more a life insurance company knows about your health, the less they may need to charge you for managing the risk!
Unknowns can get expensive for a carrier, because they can’t properly plan those future unknown expenses; so, they pass the expense on to you, the customer. Therefore, the lowest rates on life insurance usually require a brief medical exam, also known as a paramedical exam, or paramed, for short.
If you need a larger policy, will probably need a paramedical exam, regardless. Policy face amounts higher than $500,000 often require it. There are companies who offer coverage up to a million dollars without a medical, but you’d better be young and healthy.
How to Pass The Medical Exam For Life Insurance And Drop Your Premiums!
If you have a high risk health condition (like cardiovascular disease, cancer or diabetes) you will probably need a paramedical exam, regardless. The only exception would be if you were purchasing a graded or guaranteed policy, which have simplified underwriting.
The exam is nothing to get worked up about. It is usually just a blood and urine sample, combined with your height, weight and vital signs taken by a paramedic or a nurse. They are in and out, usually in just 30 minutes or less. However, while it’s very easy, one can overlook its importance.
We have found, over thousands of applications, is since you have to take it anyway, why not make sure you are getting the best health class possible?
“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
When it comes to a life insurance policy you may have for 30 years or more, a lack of preparation can be costly. Literally!
For instance, a 50 year old man applying for a $500,000 policy with a 20 year term duration could qualify at two different health classes:
- Standard for about $150 per month, -or-
- Preferred for $91 per month.
Which deal would you rather have?
Over the life of this policy, it amounts to over $14,000 more he would spend because of a lower health class!
Can You Really Impact Your Rates?
As we get older and life insurance gets more expensive, this disparity among the health classes is even greater.
The difference between one health class and another can sometimes be just a few points of systolic blood pressure, or just a few pounds of weight. Make sure you’re taking advantage of every little point you can get.
We’re not expecting you to work miracles, but small changes really do matter! Of course, sometimes the best way to ace an exam is to not even take it at all!
If you do need to take the exam, read on to get the best results possible.
Check out this awesome infographic, provided by HeartLifeInsurance, to see what you can do every step of the way leading up to your exam date!
Here’s a Quick Time Table You Can Follow To Get The Best Results!
Starting Two Weeks Before Your Paramedical Exam
Plan your medical exam for a low-stress day. Research shows this is a Wednesday, Friday, or Saturday morning. Of course, take a look at your schedule and make sure your day is clear.
It’s also helpful to schedule exam early in the morning, not only because you’re likely less stressed, but fasting over night makes much more sense than throughout your work day.
Maybe go ahead and make yourself a diet plan for your next two weeks, aiming at reducing high sodium processed foods, and reducing foods with a lot of sugar and complex carbohydrates (these can generate hypoglycemic or hyperglycemic responses as your body adjusts its insulin levels). Increase your meals with fiber and green vegetables, instead.
Increase your exercise, or start taking a few walks around the block, if you don’t already exercise.
7 Days Pre-Exam
Maybe trying to start adding cold showers into your daily routine, or practice controlled breathing techniques. Something like yoga or meditation help many people de-stress, but maybe it’s a walk in nature for you.
The aim here is to practice staying calm. Many people find an exam day somewhat stressful, especially because of the needle needed to draw blood, but focusing on your inner calm may help you when the time comes.
3 Days To Go!
It’s almost here. Crunch time.
Go ahead and cut out the fast food for the next three days, if you haven’t already. Avoid high sodium processed meats like lunch meat.
Maybe reduce your caffeine intake, and start drinking a lot of water. Hydration starts much earlier than an hour before you hand over your urine sample.
2 Days Left!
Avoid shellfish for the next two days to normalize your cholesterol readings.
Office mates meeting for happy hour? You may want to take a rain check, as you don’t want to have much alcohol in the next 48 hours, if any. Did we mention drinking water?
Continue increasing your water intake to flush excess toxins from your urine. For men, this means up to 125 ounces daily, and for women, 95 ounces.
Your Final Day!
Do not eat any poppy seed bagels or salads with poppy seed dressing. You don’t want any false markers in your blood for illicit drugs.
Today, you can also take a free pass and skip the gym; no strenuous exercise!
If you are medically able to fast, you go as far as a fast for 24 hours before your exam. Of course, 8 hours is plenty, and if you scheduled your exam, you’re already covered because you’re not eating if you’re sleeping! Speaking of which…
Get a great night’s sleep. Do what you need to do in order to fall asleep at a normal bed time. (Turn off Netflix!)
The day has come. What now?!
Drink a big glass of water about an hour before your nurse arrives, and stay calm. Avoid drinking coffee if you can.
When it is time to take your blood pressure, close your eyes and go to your happy place. This is the calming you’ve been working on. You want the most accurate indication of your resting pulse and blood pressure.
TIP: If you would like to lie down as you take your blood pressure reading, request to do so.
If your’e at all concerned about your weight, wear light loose fitting clothing. Think like a champion prize boxer getting ready to weigh in, and keep your clothing as limited as you can.
When you’re getting your height measured, stand as tall as you can. Remember, your BMI is your height and weight ratio, so don’t cut yourself short (get it?).
Be prepared if you are taking prescription medication. Have your prescription bottles out for the nurse or the paramedic. They will ask for them!
Finally, prepare to discuss your medical history and the medical history of your biological parents, and immediate siblings. When you’re asked to sign off on your paperwork, go ahead and double check everything for accuracy, while you’re at it.
Boom, You’re Done!
Once the exam is over, pat yourself on the back, brew a cup of coffee, and enjoy some breakfast.
Rest assured knowing you have done everything within your power to get the lowest rates on life insurance.