Does COVID-19 have you considering a life insurance purchase? Taking a medical exam is often part of the buying process. If the idea of an in-person examination during the coronavirus pandemic is holding you back from buying, though, rest easy: you have options.

The goal of life insurance is to provide your loved ones with financial security if the worst happens, so it’s no surprise that a health and economic crisis like COVID is prompting more people to shop for coverage. Even before the pandemic began, the number of people planning to purchase a policy in the next year was at record highs. With COVID-19 prompting more people to look for coverage, new applications for life insurance through November were up more than 4% over the previous year.

Life insurance exams are designed to help insurance companies understand your overall health and confirm the information you shared on your application is correct. If you’re in good health, taking an exam can help make sure you get the lowest rates possible.

With social distancing and lockdown orders in effect across the country right now, the idea of an in-person physical exam might make you feel a little squeamish. If you’re interested in buying life insurance, Fidelity Life offers options to delay or even skip a medical exam while still locking in the coverage your family needs. We also have precautionary measures in place for people to take a life insurance exam safely during the pandemic.

No matter which route you choose, here’s what to expect from your life insurance medical exam during coronavirus.

Do you need a medical exam during coronavirus to get life insurance coverage?

A medical exam is a standard part of many life insurance applications. It’s a free exam that you can take in a location of your choosing, like your home or a medical facility.

The life insurance company uses the information it collects during the medical exam to determine how risky it is to cover you. For example, if you’re relatively young and in good health, a medical exam would provide proof that you’re low-risk, helping to lower your monthly premiums.

In general, term life and permanent life insurance often require a medical exam as part of the buying process. The good news: With Fidelity Life, you have the option to delay your medical exam for up to six months and still get covered immediately. If you’re concerned about having an examiner in your home right now, that means you can secure financial peace of mind now and take an exam later when you feel safer about doing it. In some cases, we can even waive the exam entirely.

How do life insurance medical exams work during the COVID-19 pandemic?

If you opt to take your medical exam sooner rather than later, it also helps to know what happens during an exam. This can not only help you prepare physically, but also ease some of your fears about conducting one during the pandemic.

A certified medical professional (paramed) will conduct your life insurance medical exam. When you undergo an exam, the paramed will typically:

• Record your height and weight
• Calculate your body mass index (BMI)
• Check your pulse and blood pressure
• Ask a series of health-related questions to confirm the information on your application
• Take blood and/or urine samples

During your medical exam, your safety is our top priority at Fidelity Life – especially right now. If you schedule an exam during the ongoing pandemic, here’s what you can expect:

• Our parameds are following CDC guidelines strictly to minimize the risk of transmission, including wearing masks at all times.
• We’re asking different types of questions to include COVID-19 concerns, including if you’ve been exposed to the virus recently.
• We’ve updated our scheduling process to ensure that both technicians and our customers remain safe and socially distant, so be sure to plan ahead for any delays if COVID-19 cases are rising in your area.

If you’ve been diagnosed with COVID-19, you may need to wait and reapply again for certain types of life insurance. That said, it’s important to be upfront with your paramed during the exam.

If something comes up later that you didn’t disclose on your application, you could be denied coverage. Even worse, your family may not be able to claim your death benefit later on when they need it. Fidelity Life offers a range of life insurance options, so we can help match you to a policy that’s a better fit if you have health concerns.

Alternatives to a life insurance medical exam

Looking to skip a medical exam, but still want coverage? We’re committed to providing everyday families with choices – including plans that don’t require an exam.

If you’re hesitant about an exam, some options to consider include:

• Buying a term policy online. With our RAPIDecision® Life term insurance, we offer term coverage online with no medical exam required, in many instances. If you’re looking to get covered quickly, you can get covered in about 10 minutes while shopping from the safety and convenience of home.
• Simplified issue. These plans include a health questionnaire instead of a full medical exam to determine your rates. The process is designed to be fast, so you can get covered right away.
• Guaranteed issue. Just like it sounds, guaranteed issue offers no-questions-asked coverage with no health requirements. Keep in mind that the coverage amounts are lower and the rates are higher than other types of coverage. If you’ve had health issues, though, this type of coverage can help you lock in the protection you need.

Insuring peace of mind during the pandemic

The coronavirus pandemic is a prime example of why life insurance exists: to provide security and protection during uncertain times. While it’s understandable to be nervous about the process, Fidelity Life is committed to making it easy, convenient, and safe for everyone involved.

At Fidelity Life, our goal is to make life insurance simple, affordable, and understandable for everyday families. This content is intended for educational purposes only. Each post is carefully fact-checked, reviewed and updated regularly to ensure the information is as relevant as possible.