When you apply for life insurance you sign a consent form for the company to check your Medical History. Usually they will only check with the Medical Information Bureau, which is a health database similar to a credit agency but health related. As long as the information on the application coincides with the information in the MIB report, many companies will go no further, however should they feel it necessary they can check with your doctor and obtain medical records.
Yes, a life insurance company can get medical records if the underwriter feels it is necessary to review your records in order to determine whether you can be approved for coverage. Even some No Exam companies will order medical records. You give consent to this by signing the HIPAA form in your life insurance application, and these records cannot be reviewed by anyone else.
Yes, life insurance companies can order medical records in order to ascertain how to rate some applicants. You are provided a HIPAA form in the life insurance application which you must sign in order to give them permission to access your records.
Some No Exam policies never request medical records. And many medically underwritten policies do not request medical records for specific people they are middle age or younger, and appear to be in good health.
That is a great question! Not only can they, but they absolutely will. There are a couple of reasons why. The first is that people often forget exactly what the doctors have told them, or sometimes that there even was an issue. Some people will pretend that issues never happened when filling out the application, in hopes that it will be cheaper. The company protects itself by looking at those records, and your prescription history.If they are concerned with your reliability, they may also look at your credit history. I hope that helps, thanks for asking!
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Some No Exam policies never request medical records. And many medically underwritten policies do not request medical records for specific people they are middle age or younger, and appear to be in good health.