What is the application process?
What is the application process and what type of medical exam is required?
A medical exam, paid for by the insurance carrier, is required for most disability insurance and life insurance companies. This process can be completed in your home or any other convenient location. The exam takes about 15-30 minutes and is conducted by a licensed paramedical or medical doctor. An exam generally involves a blood and urine specimen, blood pressure reading, height and weight measurement, a series of questions regarding your medical history (past or upcoming surgeries, treatments and any other past or current medical conditions. You will also be asked for the names and addresses of any doctors you are currently seeing or have seen in the last five to ten years) and sometimes an EKG depending on the amount of insurance you are applying for.
Below are some helpful tips for your medical exam as well as an insurance timeline so that you have an idea of how the process works.
Medical Tips (if an exam is applicable)
1. Get a good night's sleep before the exam.
2. Try to fast at least 12 hours before the exam - this will help your cholesterol and blood sugar levels.
3. Wear a short sleeve shirt.
4. Try to refrain from drinking caffeine or alcohol and engaging in any strenuous activities for at least 12 hours before the exam.
5. Have your driver's license available.
6. Have your personal doctor's information available (i.e. business address, telephone numbers, etc).
Insurance Application and Underwriting Timeline
- Application is sent to you and a Paramed exam date has been tentatively scheduled (if applicable).
- Review the application for accuracy.
- Sign and date where highlighted on the application.
Day 12 - 17
- You have completed your paramedical exam (if applicable).
- We receive your completed application in our office for processing.
- Your application package is sent to the insurance carrier for underwriting review.
- The insurance carrier is underwriting your application. They may request information from your doctor. Sometimes there is a delay in your doctor's office response time and this can add an additional week or two to the underwriting time.
- The policy is approved and sent to our office for inspection.
- The policy is sent to you.
- There may be forms to sign and premiums to be submitted. Please do not hesitate to get that information back to our office, so that you can start enjoying your disability insurance protection immediately.