Thinking about taking the leap and buying life insurance? Even if you understand the benefits a policy can provide to your family for years to come, actually buying life insurance can seem intimidating. You may have dozens of life insurance application questions.

Take a deep breath. The process is easier than you realize. Knowing what to expect can make it even simpler to buy permanent or term life insurance coverage in a short amount of time. To help you, we’ve broken down some of the most common life insurance questions you’re likely to see on your application.

What questions are asked during a life insurance application?

When you apply, life insurance companies will gather detailed information about you to determine the best type of policy for your needs. This information also helps them make decisions about rates and coverage options.

Life insurance companies use the information from your application during underwriting, a process in which the insurer assesses the amount of risk for each applicant. Details about your health, lifestyle, and other factors give insurers the insight they need to make accurate decisions and provide you with the best rates possible. If the insurer can verify you’re healthy, that’s going to help you secure the best premiums (or life insurance quotes) on your policy. Even if you have a few health concerns, being upfront helps make sure you get proper coverage that your family can count on later.

No matter your situation, all the information you share on a life insurance application is confidential. Your privacy is fully protected, and insurers will not compromise your data or share it with third parties.

Now, let’s take a look at some common life insurance application questions.

 

Basic Information

The first step is to provide basic information about yourself. That includes your name, age, hometown, and Social Security number as well. Life insurance companies will also ask about marital status and number of children, which can help them understand who you are looking to protect.

Medical History

Most life insurance applications include health questions and inquiries about your medical history. These questions provide information about your expected lifespan and help the insurer assess risks associated with early death.

Some of the most common medical and health questions you’ll need to answer include the following:

• Height
• Weight
• Smoking and tobacco use
• Use of marijuana or recreational drugs
• Any medical diagnosis you have received
• Any use of prescription medications
• Previous or current treatments you’re receiving or expected to receive
• History of procedures you’ve had, including surgeries
• A history of stroke
• A history of diabetes

Life insurance companies verify this information through MIB Group (formerly the Medical Information Bureau). This allows the insurer to verify all of your medical records available. They are able to collect health information from each of your previous doctors all in one place using this service. Typically, MIB Group provides details on your health history for at least the last seven years.

In addition, life insurance companies typically use MIB Group to learn about any health information you’ve shared on previous life insurance applications. For example, if you told another life insurance company you had cancer, MIB Group will relay that information.

Aside from sharing your health history directly with the life insurance company, you’ll also want to have your primary physician’s contact information available. This can help to verify your medical history as well.

A note on medical exams

A medical exam is a common part of the life insurance application process. It helps your life insurance company verify key information supplied on the application, which is why it’s important to be as transparent as possible throughout the process. Medically underwritten life insurance tends to be much more affordable than no medical exam plans, so taking the exam can help you get the most competitive rates.

The medical exam includes measuring your height and weight, taking your blood pressure, and requesting blood and urine samples for further testing and analysis. Some life insurance companies also request an electrocardiogram (EKG) to check for any concerns with your heart, typically just for older applicants or large policies. You’ll also answer a few follow-up questions about your health that your company will check against your original application.

The entire exam is free to you, takes about 20-30 minutes to complete, and is typically no more involved than your routine preventative annual exam (and often much less!).

Your Family History Matters, Too

In addition to your own medical history, you’ll also answer questions about your family’s medical history. Your family’s medical history can indicate medical conditions you are at risk for in the coming years that could affect your life expectancy.

When you apply for life insurance, agents will ask about any health complications in your family history, including:

• A history of cancer
• Kidney, liver, or heart disease
• Diabetes
• Asthma or other respiratory conditions
• Anemia
• High blood pressure
• High cholesterol levels
• Brain disorders, including chronic migraines
• Anorexia or bulimia
• Immune deficiencies
• Alzheimer’s disease or any form of dementia
• Epilepsy
• History of alcoholism or drug dependency

If your family member has any of these conditions, or others, be sure to get information about them. If possible, know the age of onset for the medical condition. If your loved one passed away, let the insurer know their age at the time of their death. Early onset of health conditions like this are of particular concern. For example, if your parent died at the age of 90 but was diagnosed with high blood pressure at 80, that’s less likely to be a factor than if they were diagnosed in their 20s.

All this medical history provides a better picture of your overall health to the insurer. Be as accurate and transparent as possible, since your insurance company will verify everything they can during the underwriting process.

Financial Questions

Life insurance companies typically gather information on your finances, including your annual income and any history of bankruptcy. Current and past bankruptcies can be a risk factor to insurers, since they can indicate difficulties in keeping up with premium payments. That doesn’t mean a bankruptcy five years ago will automatically prevent you from buying coverage, though. Some companies may require that you wait two years from receiving a bankruptcy discharge to buy life insurance.

Life insurance companies also look at your income to determine how much coverage you can buy. You don’t have to have a high credit score or an exceptionally high net worth to qualify for life insurance, though.

Occupational Questions

There are likely to be a few life insurance questions on the application related to your job, including how long you’ve been there and your income. Occupational questions like these may help life insurance companies assess the right type and amount of insurance for you. Your occupation provides insight into your risk factors. Some people have much higher-risk positions than others – consider jobs like mining or police work, for example.

The application will ask specific questions about high-risk occupations to assess any dangers to you on the job. Some of the questions they may ask include:

• How often do you engage in dangerous tasks?
• What activities are required during your job?
• What does a typical day on the job look like?
• What type of environment do you work in?
• What type of safety gear is available to you?
• What safety measures and guidelines do you follow?
• Are you continually trained in safety measures?
• Do you have higher levels of certification?
• Do you work with chemicals?
• Do you work with machinery?

If you’re not currently working, be sure to share that information as well. Unemployed people can still qualify for life insurance – and that includes stay-at-home parents. Between caring for children and keeping up the house, stay-at-home parents contribute to the family’s financial well-being, too. Even if you’re not working, you can often qualify for a coverage amount based on your partner’s income.

Lifestyle Questions

What do you like to do in your free time? Questions about your hobbies and lifestyle are another important piece of the puzzle for life insurance companies.

In particular, companies are looking for clues into any risky behavior. This may include a history of criminal convictions or traffic violations, especially for alcohol-related incidents. Life insurance companies check your driving records to verify this information, so be honest and accurate about what’s present. A history of reckless driving (including speeding) could be seen as risky behavior, but a single speeding ticket may not warrant much concern.

Another key question: Do you enjoy any activities that could be considered risky? Outside of your day job, these adventurous hobbies can make you a bigger risk in the eyes of an insurer. Some examples may include:

• Skydiving
• Rock climbing
• Piloting a plane
• Ice climbing
• Scuba diving
• Car racing
• Motorcycle riding

Hobbies like these can lead to a higher risk of early death. As a result, they may increase the premiums you pay for life insurance or lead to being turned down for some types of coverage.

Life insurance companies may also ask about the type of travel you do. Do you travel outside of the country? If so, where do you go? Some countries carry a higher risk because of a lack of safety or access to medical care. That can influence the life insurance company’s decision about whether to provide you with coverage or the rates you’ll pay for your policy. Along with recent trips, insurance companies often also ask about any upcoming travel on the books.

 

Other life insurance application questions to expect

Life insurance applications may also ask questions about your background or policy preferences,
including:

• Who you’d like to receive the death benefit
• Preferred coverage amount
• Payment schedule (monthly, annually, etc)
• If you’ve applied for other life insurance policies

You’ll also need to provide a signature on your application. This signature allows the life insurance company to confirm the accuracy of your application through publicly available data. They may do this in a number of ways, including:

• Your driving record from the DMV
• Your medical records
• Your credit history, often to check for a history of bankruptcy
• Your prescription drug records
• An MIB Group report, which checks for errors, omissions, or misrepresentations you’ve made on previous insurance applications

Important Documents to Have Ready

Heading into your application, it’s helpful to gather a few key documents ahead of time. Being prepared before you begin can help speed up the application process. Some important documents to have on hand include:

• Driver’s license or state-issued ID
• Citizenship status, if you’re not a U.S. citizen
• Social Security number
• Brief medical history
• Credit card information

The more information you have available, the faster and easier the application should be. But if you’re missing something, that’s OK – your life insurance company will guide you through the process.

The Importance of Being Honest

Accuracy is critical during the life insurance application process. If you forget to mention a small detail, it’s not a big deal, but intentionally withholding information can end up hurting you later.

Most often, information is fully verified by the life insurance company after you complete your application. That means errors or omissions may come to light anyway. It’s unlikely that the company won’t learn of a health problem or pick up on a driving history that involves numerous speeding tickets.

Being truthful during the life insurance application process is valuable to you in multiple ways. First, it ensures you get an estimated premium cost that’s accurate, which means fewer surprises after underwriting is complete. Second, it helps the company confirm the right type of life insurance quote and plan for your needs.

Honesty can also be an important step in ensuring your family has a smooth time later if they need to file a claim on your policy. If the insurer finds out later you failed to disclose key information accurately on this initial application, it could lead to a denial of coverage.

Life insurance policies have a contestability period. That period spans two years from the date of issue of the policy. If you die during that period, the insurance company can take a deeper look into your life insurance application details. They may specifically look for anything you omitted on the application or were dishonest about. If they can show that this occurred, the insurer may deny the claim from your family. You don’t want to pay into a life insurance policy for years, only for your loved ones to be unable to collect it when they need it most.

Ready to start your application?

Don’t let the life insurance application questions intimidate you. It shouldn’t take you long to complete them. Once you do, you’ll be on the road to protecting your family. Still have questions or need some additional support? Reach out to the Fidelity Life team at (877) 703-0690.