Friday, March 28, 2014

What's An Insurance Coverage Paramedical Exam Searching For

Obtaining a life insurance policy isn't always as easy as filling out an application and paying an initial premium. Depending on factors such as the applicant's age, previous health history and the face amount of the coverage, the insurer may require a field medical examination performed by a paramedical. A paramedical is a licensed medical professional who is often hired on a contract basis by the insurance company.


Life insurance companies need to assess a variety of risk factors to determine an applicant's eligibility for coverage. The last thing the company wants to do is insure somebody for a large amount of money who suffers from a health condition that may shorten his lifespan as this will result in an unprofitable situation for the insurer. A paramedical exam can uncover certain health risks that might otherwise go undetected as well as verify answers to health questions provided by the applicant.


If the insurance company requests a paramedical exam, it informs the paramedical who then contacts the applicant to arrange a time to visit him at his home or office. The paramedical performs procedures such as weighing the applicant and taking blood and urine samples with equipment she has brought with her. She may also ask the applicant a variety of questions concerning his health history and check for telltale signs of illness or disease.


After the test results are processed, they are sent to the insurer's underwriting department for evaluation. Items of interest to the underwriter include evidence of high blood pressure, tobacco use, drug abuse, HIV and hepatitis. The underwriter will also determine whether the applicant's weight is at an acceptable level in relation to his height as determined by the insurance company's height/weight charts. In some cases, the underwriter may also request additional laboratory tests which are normally done at the insurer's expense.


The underwriter can take a number of actions based on the results of the paramedical exam and other risk factors listed on the application. If the results are favorable, the underwriter may accept the application as is. The insurance company could also offer a "rated" policy, meaning an additional premium must be charged due to the presence of a specific medical condition. If a severe medical condition is uncovered, the underwriter may decide to reject the application and refuse to offer coverage.

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