Blood Tests & Life Insurance

Generally, no blood tests are required when applying for life insurance cover. However, upon application if there is something that the insurance company is concerned about and they want to further investigate, the insurance company may request blood tests to be completed.

The reason why the insurance companies request blood tests when assessing life insurance applications is so that they are fully aware of the risk that they are taking on when offering an applicant insurance. It is also to ensure that everything is disclosed to them before your policy is completed. Some people do not realise that this is actually to benefit them so that there are no issues if a claim needs to be made in the future.

Policies that are not medically underwritten are concerning as you could be paying premiums for a number of years for a policy that you cannot even claim.  This defeats the purpose of paying premiums and having cover.

We’ve all seen the ads before on television, “pay $1 a day and receive life insurance with no blood tests or medicals…” Did you ever stop and consider as to why the life insurance was only $1 per day? Most people consider $1 per day for life insurance cheap.  However, the policies that are only $1 per day are cheap products and also result in no blood tests being required, which means that, most likely, they are not medically underwritten.  So at the time of claim you actually may not be able to claim at all. 

Another factor which could result in the insurance company requesting blood tests for life insurance is the amount of cover that you want to insure. If it is the amount of $1,000,000 and you are over the age of 51, this is a high risk to an insurance company to offer the cover.  Therefore they request medical tests to ensure that they can offer the cover. The tables below specify the amount of cover you can take with and without blood tests required for life insurance. However, medical information disclosed in an application can also trigger blood tests being required for life insurance.

Life Insurance & TPD Insurance

Age 0 - $250,000  $250k - $500k $500k - $750k $750k - $1mil $1mil - $1.5mil $1.5mil - $2.5mil $2.5mil <
<40 Nil Nil Nil Nil Nil Nil Fmeds
41 - 45 Nil Nil Nil Nil Nil Nil Fmeds
46 - 50 Nil Nil Nil Nil Nil B/FC Fmeds
51 - 55 Nil Nil Nil Nil B/FC B/FC Fmeds
56 - 60 Nil Nil Nil B/FC B/FC B/FC Fmeds
61 - 65 Nil Nil FC B/FC B/FC B/FC Fmeds
66+ Nil FC B/FC B/FC B/FC B/FC Fmeds

B = Bloods; FC = Fastcheck; P = Personal Medical Attendant Report; Fmeds = Further Medicals

Trauma Insurance

Age 0 - $250,000  $250k - $500k $500k - 1mil $1mil - $1.5mil $1.5mil - $2.5mil $2.5mil <
<40 Nil Nil Nil FC FC Fmeds
41 - 45 Nil Nil Nil FC FC Fmeds
46 - 50 Nil Nil Nil B/FC FC Fmeds
51 - 55 Nil Nil Nil B/FC Fmeds Fmeds
56 - 60 Nil Nil Nil B/FC Fmeds Fmeds
61 - 65 Nil Nil B/FC B/FC Fmeds Fmeds
66+ Nil FC B/FC B/FC Fmeds Fmeds

B = Bloods; FC = Fastcheck; P = Personal Medical Attendant Report; Fmeds = Further Medicals

Income Protection

Age 0 - $10,000  $10k - $12.5k $12.5k - $15k $15k - $20k $20k - $40k $40k - $60k
<40 Nil Nil FC B/FC FC/B/P Fmeds
41 - 45 Nil Nil FC B/FC FC/B/P Fmeds
46 - 50 Nil B/FC B/FC B/FC FC/B/P Fmeds
51 - 55 Nil B/FC B/FC B/FC FC/B/P Fmeds
56 - 60 Nil B/FC B/FC B/FC FC/B/P Fmeds
61 - 65 Nil B/FC B/FC B/FC FC/B/P Fmeds
66+ Nil B/FC B/FC B/FC FC/B/P Fmeds

B = Bloods; FC = Fastcheck; P = Personal Medical Attendant Report; Fmeds = Further Medicals

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