The Insurance Company Would Ask You About Your Medical History And May Want You To Take Some Sort Of Physical Exam As Well

Insurance is just about handling risks, any insurance companies would not take any risks when rates are initially set, which are paid by you as premium.

It might even cause them to pay out more than the amount paid by you. They would take proper precautions to make certain that you won' t die too early. The risk here stated is the pretty much the same health risks like, cholesterol, tobacco use, diabetes, over weight or fat, and few other conditions associated to poor health and early death. The insurance company would ask you about your medical history and may want you to take some sort of physical exam as well. To account for these risks, insurance company would designate your status based on age, and that would, gender and health further determine how much you pay for a given amount of insurance. While filling up the health questionnaire you need to be faithful, in case you lie the company will find out and your policy would be canceled.

Some of the risk factors cannot be controlled, such as age and gender. "Women live longer than men" , so normally women have the benefit of lower rates on insurance. And if in case your sick and were to die and then the company found out you lied earlier, if, for instance, you said you were a non- smoker but ended up dying of lung cancer from a smoking habit, they could deny the death benefits. And as men ten to have shorter life spans, they have the benefit of paying lower rate on annuity. Younger people, who have much longer to pay premiums before they die, pays a lower rate compared to the older people. Same your age also have an affect on premium. Your life style, your family medical history and your mental, physical condition as well matters while calculating premiums.

Some cases may also require extensive tests such as X- ray or EKG. Most of the insurance company will ask you to undergo a physical exam, a medical doctor would check your weight, blood pressure and other vital signs, and may take a blood and urine sample. Your blood and urine samples would be tested for sign of disease such as HIV virus, diabetes, cholesterol level, kidney problem, hepatitis and any other problem as well. Some insurance companies would even improve an individual's rating, and adjust the premium, which reduces over, for risk factors time. The samples would be then screened for the findings of nicotine and some medications as well as for illegal drugs. For example someone who purchased life insurance shortly after a bout with his cancer, that person would possibly be paying high- risk rates because of his health history.

But, because the risk of the cancer returning reduces over the years, that individual may contact the insurer after being cancer- free for five years and may get a lower rate.