If you are interested in signing up for life insurance, there are a number of elements that the insurance company will look at to determine your eligibility. One of the primary elements at play is your general medical history, which can significantly influence your approval. Knowing how far back the insurer will check will help you determine whether it is worth pursuing the policy you are interested in. Unfortunately, it is rarely immediately clear how far back life insurance companies check medical records.
If you are considering applying for life insurance, read this guide, which explores the relationship between life insurance and your medical records.
Why Do Life Insurance Companies Check Medical Records?
Life insurance companies look over an individual’s medical history to determine their eligibility for coverage. An individual’s health can indicate how much liability an insurance company would take on when offering them coverage. Hence, a person’s past health has a huge influence on their life insurance eligibility.
How Far Back Do Life Insurance Companies Check Medical Records?
Life insurance companies will typically check the last three to ten years of your medical records when determining your coverage. However, depending on the details of the insurance policy you are applying for, there is some variability in this timeline.
When reviewing medical records, insurance companies typically look for common conditions like high blood pressure, diabetes, and heart disease, which are all risk factors for health problems beyond themselves.
Are There Exceptions to This Period?
There are some exceptions to the lookback period of a patient’s medical records. For instance, exceptions may be made in the case of individuals who have recently undergone major surgeries. In this case, an insurance company might request to have a look at medical records from a more distant period than the typical three to ten-year period. A different measure may also be used for individuals who have dealt with a chronic health condition for an extended time. Similarly, if an individual has a history of serious substance abuse, your insurance provider may request to look at medical records related to that period of your life, regardless of how far in the past it was.
Other Factors That Influence the Lookback Period
There are other factors that can influence how far back an insurance company will look in your medical records. The major influencing factors include:
- Age of the applicant
- Pre-existing health conditions
- Nature of the life insurance being applied for
- Level of coverage asked for
- Underwriting policies of the insurance company
You will be able to discuss with an insurance representative what factors from your life and medical history might influence your ability to receive coverage. Present requested documents in a timely matter to expedite this process as much as possible.
How Do Insurance Companies Access Medical Records?
The applicant typically grants an insurance company access to their medical records during the underwriting process. The records that are typically requested from an insurance provider during the application process include:
- Medical Information Bureau records
- Medical release forms
- Attending Physician Statements
- Authorization and consent forms
- Medical questionnaires
Your medical records will play a significant role in determining your overall eligibility for coverage. Other determining factors that will influence an insurance provider’s decision to provide or rescind coverage include:
- Your overall state of health
- Medical risk factors
- Pre-existing conditions
- Lifestyle choices of an applicant
- The results of diagnostic tests
If your insurer requests you take additional medical exams to determine your eligibility for coverage, returning these exams to your insurer as quickly as possible can help to ensure that you receive a decision in a more timely manner.
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Safecal is proud to be one of the top insurers in California. If you have questions about your eligibility for life insurance or need other insurance services, do not hesitate to contact us for a consultation.