I recently switch my life insurance from Liberty Mutual to Genworth. The first time I got my term life policy, it was difficult for me to get a decent policy because I ran into a shady agent who somehow got me into a poor health bracket and recorded the information in the Medical Information Bureau (MIB). Fortunately, the agent at Liberty Mutual helped me worked through it and got me a decent policy with $500,000 coverage.
However, my life situation changed over the past 12 months and I wanted to increase my policy to a 30-year term life with $1 million coverage. After asking a few friends about who they carry a policy with, I settled on working with Genworth. Turn out this was a good move since I am only paying about $10 more per month for the extra $500,000 in life insurance coverage.
Anyway, I just want to share this email I got from my agent when I was going through the application process. I think it has a lot of useful tips to help you get the best possible rate:
Money Saving Exam Tips
Your exam affects your life insurance rate, so it’s important to prepare. We need to have you fresh and fasted, so be sure to schedule your exam for first thing in the morning. You only have one chance to get the best lab results and the following tips below will help make that happen:
5-7 Days Before Your Exam
Stick to a healthy diet the week prior to your exam. Minimize the use of salt and avoid sugary and excess fatty foods.
3 Days Before Your Exam
Do not drink any alcohol products for 72 hours prior to the exam. Alcohol is processed by the liver and can cause liver enzymes to become elevated.
1 Day Before Your Exam
- Stay away from ALL caffeine products . Caffeine can elevate blood pressure.
- Avoid nasal decongestants and pain medication such as aspirin, acetaminophen and ibuprofen (unless directed otherwise by your doctor).
- Do not participate in any strenuous exercise . No jogging, weight lifting or swimming. This can cause elevated protein in the urine.
- Fast 8-10 hours prior to the exam-taking place. If your exam is scheduled for 8:00am, begin your fast the night before at 10:00pm. Do not eat or drink anything except for water until you complete the exam the next morning.
- Get a good night’s sleep .
The Morning of Your Exam
- Don’t eat breakfast or use tobacco .
- Have a list of your doctors, including addresses and phone numbers on hand.
- Relax . If you followed these exam tips you have nothing to worry about.
Obviously, you should or should not be doing some of these things on the list in the first place. For example, you should be eating healthy diet regardless of insurance medical examination, and stop smoking for 7 days is not all that useful either. I hope these tips help you save some money.
Pinyo Bhulipongsanon is the owner of Moolanomy Personal Finance and a Realtor® licensed in Virginia and Maryland. Over the past 20 years, Pinyo has enjoyed a diverse career as an investor, entrepreneur, business executive, educator, financial literacy author, and Realtor®.