Life Insurance Underwriting: What to Expect & How to Prepare

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Team Waffle
April 12, 2023
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Term Life Insurance For Newbies Course Part 3

Hey there, are you looking to save money on life insurance? Just like a well-maintained car can get you lower car insurance rates, taking care of your body can lead to lower life insurance rates. Stick around and I'll show you how to prepare for the term life insurance underwriting process to get the best rates possible.

Hey there, welcome back to our series on term life insurance for newbies! In this chapter, we're going to talk about term life insurance underwriting, what to expect, and how to prepare for it.

Now, I know that the word "underwriting" might sound a little scary or intimidating, but don't worry, we’re here to break it down for you.

What is underwriting?

Simply put, underwriting is the process that insurance companies use to evaluate your application for life insurance. Underwriting is a crucial part of the life insurance process, where the insurance company evaluates your application to determine your eligibility, premiums, and coverage.

They want to make sure that they're taking on an acceptable level of risk by insuring you. They'll take a close look at several factors, including your age, overall health, occupation, and hobbies to determine how much of a risk you are to insure.

What can you expect during this underwriting process?

So, what can you expect during the underwriting process?

To start the process, you'll need to fill out a detailed application form that asks for your medical history, lifestyle habits, and other personal information. This will help the insurance company assess your risk profile.

Keep in mind that your hobbies and occupation can also impact your life insurance approval and premium rates. For example, if you have a dangerous job or participate in high-risk activities like skydiving or scuba diving, you may be deemed a higher risk to insure, which could result in higher premiums or even denial of coverage.

On the other hand, if you have a low-risk occupation and lead a healthy lifestyle, you may be able to secure lower premiums and better coverage.

Depending on the type of policy you're applying for and the amount of coverage you need, you may also be required to undergo a medical exam. The exam typically involves a blood test, urine test, and physical exam to check for any underlying health conditions. 

It's important to be honest and thorough when filling out your application and going through the medical exam. Any discrepancies or omissions could lead to your policy being denied or canceled in the future. So, take the time to provide accurate and complete information to ensure a smooth underwriting process.

What can you do to prepare for the underwriting process?

There are things you can do to prepare for the underwriting process! Especially if you want to help increase your chances of getting approved and score lower premium rates. 

Get a copy of your medical records

Before you apply for life insurance, it's a good idea to request a copy of your medical records from your doctor. This will give you a chance to review your medical history and ensure that everything is accurate.

Schedule a check-up with your doctor

It's important to be in good health when you apply for life insurance. If you haven't had a check-up in a while, consider scheduling one before you apply.

Make healthy lifestyle changes:

If you smoke or have other unhealthy habits, consider making changes before you apply for life insurance. Quitting smoking, avoiding tobacco and alcohol, eating a healthy diet, and getting regular exercise can all help improve your overall health and lower your premium rates.


In general, the healthier and lower risk you are, the lower your premiums will be. So, taking steps to improve your health and lifestyle before applying for life insurance can pay off in the long run.

That's it for today's chapter on term life insurance underwriting. Remember, don't be intimidated by the process, just be honest and do your best to stay healthy. And as always, feel free to reach out to us if you have any questions!

Term Life Insurance for Newbies Course