It is common for insurance companies to request old medical exam results as part of their underwriting process. This may seem intrusive, but it is important to understand why insurers do this and how it can impact your policy.

What Is an Underwriting Process?

Every insurance company has an underwriting process, which involves assessing the risk of taking on an individual or organization as a client.

This process involves various factors, such as a person’s medical history, lifestyle habits, and financial situation. The objective of an underwriting process is to determine the level of risk a person poses and how much premium they will pay for their insurance policy.

Why Do Insurers Ask for Old Medical Exam Results?

Insurance companies require a lot of information from applicants when they apply for a policy. This includes information about their medical history, such as past diagnoses, treatments, surgeries, and medications.

In addition to this, insurance companies may also ask for old medical exam results.

Old medical exam results, typically those taken within the last three to five years, help insurers assess your current health status and identify any pre-existing conditions that may affect your eligibility for insurance.

These exams can provide the insurer with valuable information about your overall health, such as cholesterol level, blood pressure, and any health concerns found in the past.

Insurance companies view pre-existing conditions as potential financial risks, and insurers require to know about them when underwriting a policy.

This enables them to assess the likelihood of you submitting a claim in the future and to determine the premium you will pay for your policy.

What Do Insurers Do with Old Medical Exam Results?

Once an insurance company has requested and received your medical exam results, they are typically reviewed by underwriters. The underwriters will use this information to determine your risk level and the premium you should pay for your policy.

If you have a pre-existing condition, this will typically be factored into the risk assessment. In some cases, it may impact the overall cost of your policy or even its approval. However, this will vary from insurer to insurer and from policy to policy.

When Do Insurers Typically Request Old Medical Exam Results?

The timing of when insurers will request old medical exam results can vary. In some cases, the request for old records may come early on in the application process.

In other cases, it may only be requested if the application process is contested or additional medical information is required.

How to Get Old Medical Exam Results for Insurance Companies

If an insurer has requested old medical exam results as part of your application process, you will need to provide them with the information.

You can request this information from your doctor or medical provider if you do not have your old medical records on hand. Many medical providers offer the ability to obtain old medical exam results online or via email. By law, medical providers must provide access upon request by patients.

Are Insurers Allowed to Access Your Medical Records?

While you may view the request for old medical exam results as an invasion of privacy, insurance companies are legally allowed to access your medical records.

This is because insurance companies require this information to assess your eligibility for insurance and to accurately price their policies.

However, it is important to note that insurance companies must adhere to strict privacy laws when handling personal data.

This means that any medical information provided to an insurer is kept confidential and only accessed by those in a position to provide analysis or underwriting.

Final Thoughts

If you are applying for insurance and have been asked to provide old medical exam results, it is important to comply with the request.

The information contained in these past medical results is essential for insurers to determine accurate pricing and policy approval. While it may seem like an inconvenience, the information gathered could provide valuable insights into your overall health and well-being – ultimately resulting in better insurance coverage for you.