If you are applying for a life insurance policy, it is important to understand how the insurance company how much premium (price) you will pay for this policy will be decided. When you receive a life insurance quote online or from a local agent, you should know that a bid is actually a broker / agent you are working with "best guess" is. However, if your original bid takes into account your age, gender, tobacco use and health and lifestyle factors, the probability that the bid would be more accurate. When the application goes through the underwriting process, the insurance company determines the premium you will pay.
Your application, including a complete health history, current medical conditions and medications you are currently taking, will gather with the process begins. No significant family medical history as well as the application will be collected.
A medical examination is generally required for application.is).For the exam you are applying with are paid by the insurance company and usually must be performed by examiners contracted with them.
Review your application and medical examination and laboratory results submitted to the insurance company for a client. Underwriters your doctor (whose information you submit on the application) medical records request from a MIB report may be requested. MIB Group is a membership corporation owned by Member States and in Canada's life insurance companies.
Underwriter and all your information, your age and sex, tobacco use and medical history (including current medical conditions) based on a risk level score, also known as health classes will provide - General The Preferred Plus, Preferred, Standard Plus, Standard and many sub - standard classes.
Wednesday, September 14, 2011
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