Since final expense insurance has no medical exam, applying for it only requires answering questions. These questions will help the insurance company assess the risk it is taking by insuring you. This is a quick, easy, and painless process that will get you on your way to a final expense insurance policy you can call your own.
Final expense insurance applications have standard questions that you’ll find on any insurance application. The information you provide here will mainly be identifying information confirming that you are the one applying, and not anyone else.
You can expect to provide such information as:
- Your name
- Social security number
- Date of birth
- Home address
- U.S. citizenship status
- Occupation and employer name
- Driver’s license number
- Phone number
- Email (if you have one)
You may also have to inform the insurer about your driving record and criminal record.
These questions stand alone from the medical portion. This is the information you’d provide even if you were to get a policy without medical questions.
This takes your personal health into account when the company is determining your insurability risk. You also have to give the company access to your medical records so that they have proof that you answered honestly. When the insurance company asks you these questions, you’re giving them an idea as to how much life you have left.
Medical questions include:
- Your prescribed medications
- Health history along with current health conditions
- Family medical history
- Tobacco use
What do these questions reveal?
The standard questions primarily confirm your identity, but other relevant details provide a window into the risk the insurer is taking. Your workplace, for instance, may be inherently dangerous, and your premiums may be higher because of the occupational hazards. A driving record indicates the likelihood of getting into an automobile accident in the future. A criminal record lets the insurer get an idea of reckless behavior and impulsivity – both of which do not translate to a longer life.
Your prescribed medications provide an indication of your current health problems, and past illnesses may reveal that you are prone to diseases. Your family history gives an insight into what medical problems you may run into in the near future. Tobacco use will be reflected in your health history, and it has an obvious negative impact on your life expectancy. Hobbies are questioned because some lend themselves to serious injuries and/or premature deaths.