Steps to Get Covered
Application | Medical Exam | Other policy questions | Underwriting Guidelines
Application
Once you have completed the online application request, you will be contacted by a licensed agent shortly thereafter to verify your information. We will ask you a few screening questions to be sure you meet the underwriting guidelines of the policy you selected. For this reason it is critical that you supply accurate day and evening phone numbers and email addresses.After the phone interview, you will receive a quote within 24-48 hours and application documents will be sent Priority Mail shortly thereafter. We will highlight the areas you need to complete and will supply you with a postage paid priority return envelope. You will be provided with a toll-free number to call with any questions you have about the policy or application.
In addition to receiving your application after the phone interview, a representative from Portamedic, or another local Paramed Company, will call to schedule your exam. See medical exam for more information.Your application and medical exam results are sent to an underwriter at the insurance company's home office for approval.
Sometimes, the underwriter will request medical records from your physician. After your policy is approved you will be mailed the original policy with final acceptance documents for you to sign and return to the insurance company along with your first premium payment.
Medical Exam
The medical exam is an important step in approving your application. The insurance company will review the results of the medical exam, together with the representations you make on the application as well as records obtained from your physician. It is important to follow these simple guidelines to improve the results of your medical exam. The cost of the exam is borne by the insurance company. You may obtain the results of the exam by requesting it in writing when you return your application.
- Have photo identification available.
- Schedule the appointment for the least stressful time of the day.
- Get a good night's rest before the exam.
- Try to fast for at least 8-12 hours before your exam. Water is okay.
- The best time to do your exam is in the morning. If a weekday is not convenient, check with your examiner to see if you can arrange an appointment for Saturday or Sunday.
- The examiner will ask questions regarding medical conditions, surgeries, medications, or other treatments you may have had. He or she will also ask the names and addresses of physicians and/or hospitals that have treated you.
- Wear a short-sleeved shirt so the examiner can take your blood pressure and take a blood sample.
- Drink a glass of water an hour or so before the exam to facilitate obtaining a urine specimen. Avoid coffee, soda, tea or other products with caffeine for several hours before the exam.
- Avoid smoking or chewing tobacco for at least one hour prior to your scheduled appointment.
- Avoid alcoholic beverages for at least 24 hours prior to the exam.
- Do not engage in strenuous activity for 24 hours prior to the appointment.
When does the policy begin?
Most companies provide temporary or conditional coverage while they are underwriting (reviewing) your application. Typically you are required to submit your first premium payment with your application for this coverage to occur. Generally, your policy will not begin until you receive it in the mail from your agent.
If you are replacing existing coverage, we highly recommend not canceling any existing coverage until your new policy has been issued, delivered and your first premium paid.
Is a medical exam necessary to qualify?
Most policies require an exam. The insurance company will pay the costs and have it done at a time and place convenient for you -- usually right in your home. A typical exam will include a blood test and urine specimen, blood pressure reading, height and weight measurement, and a series of questions about your health.
When I send in my application, should a check be included?
If you send the first premium check along with your application, most insurance companies will provide limited coverage during the application/underwriting process. There is no requirement that you submit premium with your application. You can pay the premium once the policy has been approved.
What's the difference between standard and preferred rates, and how do I qualify for preferred rates?
Excellent health is required for all preferred rates. For more details on which rates/health class you may qualify for, please see the underwriting guide when you select the "Get a Quote" button on this web site.
Should I get coverage on my spouse and/or children?
Often, families will secure life insurance on both spouses. In addition to final expenses, the financial burden on a family after the premature death of a loved one can be substantial. Often the surviving spouse will take time off work, or change careers to spend more time with the children. Coverage for children is available for final expenses and also to guarantee the child's future ability to remain insured.
Will my policy ever be canceled for health reasons?
If you keep your premiums paid on-time, your policy can never be canceled because of a change in your health, and you will not be asked to provide evidence of health in order to renew your policy each year. You may cancel your policy at anytime.
Does smoking/Nicotine use affect my rate?
Rates for Nicotine users are higher than for non-Nicotine users.
After the initial period of guaranteed premiums, what will my term insurance cost?
Permanent life insurance policies (Whole Life and Universal) typically have a level premium for life. Term policies however only guarantee the premium for a limited number of years. A term policy comes with a guaranteed maximum renewal premium which will be illustrated. This represents the highest amount you will pay to keep the policy. Many modern term life policies come with long guaranty periods. (Up to 30 years)
Is there a money-back guarantee?
A full refund of your premium is guaranteed until ten full days (up to 30 days in some states) after your policy is delivered to you.
Wondering how the term life insurance company will consider your health in creating term life insurance rates? Here are some general underwriting guidelines that they use:
Preferred Plus
Family: No cancer or cardiovascular death of either parent before age 60.
Blood Pressure: 140/85
Cholesterol Levels: Under 210
HDL: Less than 5.0 HDL
Health History: No history of major health conditions, such as, cancer, diabetes, heart disease.
Driving History: No more than 2 moving violations in the past 3 years. No record of DUI or reckless driving.
Tobacco: No use of nicotine products in past 3 years.
Preferred
Family: No cancer or cardio vascular death of either parent before age 60
Blood Pressure: 150/90
Cholesterol Levels: Under 240
HDL: Less than 6.5 HDL
Health History: No history of major health conditions, such as, cancer, diabetes, heart disease.
Driving History: No more than 2 moving violations in the past 3 years. No record of DUI or reckless driving in the past 5 years.
Tobacco: No use of nicotine products in past 3 years, also preferred smoker rates available.
Regular/Standard.
Family: No more than 1 cancer or cardiovascular death of parents before age 60.
Blood Pressure: 155/95
Cholesterol Levels : Under 280,
HDL: Less than 8.0
Health History: Some major health conditions allowed.
Driving History: No more than 2 moving violations in the past 3 years. No record of DUI or reckless driving in the past 2 years.
Tobacco: No use of nicotine products in past 1 year, also standard smoker rates available.
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