Medical underwriting is a common practice across health and life insurance companies to evaluate an individual’s medical history (and other factors) to determine if they would be eligible for the policy, and how much they should be charged for the policy.
While under the medical underwriting process, your medical history, lifestyle, demographic profile, and other factors that could relate to your medical needs will be evaluated. Through this analysis, the amount of risk the insurance company would be taking to provide you coverage will be determined and priced.
There are life insurance policies that don’t require medical underwriting. These policies are known as guaranteeed issue life policies. However, these policies are typically best for those who don’t qualify for traditional life insurance because of age or health reasons.
Overall, guaranteed issue life insurance is best for those who:
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If you’re interested in learning more about the medical underwriting process, reach out to American Family Solutions today.