The most important rule for applying for life insurance
is to be completely honest. A medical exam may or may not be a part of the process of applying, but you will certainly get asked questions concerning your medical history. This is standard in the world of life insurance, even if you have to undergo an exam. Typically exams are done in the convenience of your home, are non-invasive and take very little time. They check basic things such as blood pressure, your heart and draw blood.
It is tempting on times to skim over some the not so ideal information when you are filling out an application for life insurance in order to keep your premiums low. However, this is a bad idea because it can cost you your policy or stop a claim from being paid if the deception is discovered after your death.
It is a common occurrence for insurers to deny payment of life insurance benefits because a policy holder lied about something on their application, such as whether or not they were a smoker. Rates can be very different for a smoker versus a non-smoker even on term life policies. If you use tobacco do not lie about it because the truth will come out. Instead talk to an agent about other ways to keep premiums down and try to quit smoking.
People with high blood pressure often try to not give such information when it comes to life insurance. This is another bad idea, as the information is critical and can be a deal breaker.
The rationalizations for lying on applications for life insurance are far and many. One of the most common ones is that the insurer is a big company and can afford it. Individuals feel like they are pulling one over on the big name insurance company. However, in reality the ones who suffer are often the loved ones left behind when the death benefits are not payable due to deceit. In such cases, the only thing the insurer has to pay is the amount you paid in premiums. There is often not enough money in such cases to provide the assistance with mortgages, college education and more as was originally planned.
Right now, life insurance rates for term life are lower than they have ever been. Be honest. Get a variety of quotes on life insurance and compare and contrast them for the best price possible for the best coverage.