The Life Insurance Medical Check: A Blessing in Disguise
July 26, 2022

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The Life Insurance Medical Check: A Blessing in Disguise

Bob* was your everyday average Joe, a professional, middle-aged worker looking to switch insurance providers to find a life and TPD insurance policy that better fitted his needs. He wanted something not just cheaper, but more tailored to his personal circumstances.

The application process can seem like a waste of time. The forms you must fill in demand detail. But there is a reason for it. Bob’s application required him to undergo a medical test to determine his state of health – not unusual when applying for life insurance.

Most insurance providers request some health and lifestyle details from you to assess the level of cover you could be eligible for. It’s always best to be as open as possible with your circumstances to ensure you don’t void your policy and at the same time to guarantee you the greatest degree of coverage possible.

So Bob attended his medical appointment. He felt completely healthy, showed no signs of major illness and was confident he’d have a straight sheet and an easy ticket to his new insurance policy. The results of his test left him reeling – but they could also have saved his life. They certainly improved his quality of life.

Blood tests revealed Bob had Type 2 diabetes.

The results of Bob’s medical report unfortunately left him ineligible for the cover he was after, so he remained on his pre-existing life insurance, which thankfully remains valid despite the new diagnosis.

Bob’s case highlights the importance both in following the application process through, and in securing life insurance while you’re young, fit, and healthy. Had he not had a pre-existing insurance arrangement, Bob would have found himself without a life insurance policy, or paying more for one because of the risks associated with his diabetes.

Although he wasn’t able to secure the policy he wanted, Bob saw the benefits of the medical check-up the insurance provider requested. More detailed than usual, it helped capture physical details his regular GP wouldn’t have otherwise picked up on. Though saddened he couldn’t improve his cover, Bob is glad he can now give his illness the time and attention it deserves.

Bob’s story also provides an example of why it’s important to make sure you are confident you have an insurance policy tailored to your own unique circumstances from the beginning. It’s vital you do your research and speak with an insurance adviser if you’re not sure what will best suit you.

At Wealth Smart, we believe each individual is unique, and your circumstances even more so. We make it our mission to find a policy tailored to your needs. If you’re looking for a life insurance policy that suits you to a tee, contact us today.

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