When you are applying for life insurance, one of the things that the insurance company will ask for is an attending physician statement. This document is a letter from your doctor that confirms that you are in good health. It verifies that you have no major health concerns. If you do not have an attending physician statement, your application may be denied. We will discuss what an attending physician statement is and why you need one when applying for life insurance.
What is an Attending Physician Statement?
“The Attending Physician Statement is a summary of your health condition. This is written from a doctor or medical facility. They must have either have treated or is currently treating someone that is seeking life insurance. When you apply for life insurance, you are often required to answer health-related questions. This is usually about your family medical history, any prescriptions you are currently taking and any acute or chronic issues. Sometimes also questions about a specific medical condition that could affect your life insurance risk classification. Many life insurance companies also request that you complete a brief, in-person medical exam as part of the underwriting process.
In most cases, the medical information you provide in your life insurance application and/or your medical exam is enough to determine whether you qualify for a life insurance policy. However, there are situations in which a life insurance provider needs additional medical information. This is why you might be asked to provide a statement from a treating physician. They can provide a professional perspective on your health.
Who Completes It?
In order to be effective, an APS must be completed by a doctor who knows you in person. Your insurer or agency will reach out to get information from a physician. They must have either treated you in the past or is currently providing treatment. A primary care physician is a good option, as is an OB-GYN.
For example, if you are currently receiving specialized medical treatment for a health issue — such as going through physical therapy, learning how to manage diabetes, or dealing with depression — your life insurance provider may request an APS from the specialists who are providing care. In some cases, the medical facility you are working with can provide an APS on behalf of its medical team.
If a life insurance provider requests an APS, the insurance company will typically cover any costs involved. You will not be required to pay the cost of your Attending Physician Statement out of your health insurance deductible. You will not be required to make any payments out of pocket.
How Long Does It Take?
The insurance company depends on the speed of the medical facility providing these records. In some cases can take a few weeks or more.
That said, some applicants can qualify for temporary life insurance coverage (TLIC), which as the name might suggest, means you can start no-risk coverage to hold you over for the period between when you apply and when/if you’re approved.
If you’re hoping to complete your life insurance policy application as quickly as possible and avoid the potential delay of an Attending Physician Statement, make sure you are thorough about your health during the application process. This means answering all questions as accurately as possible, whether you’re providing a family medical history, sharing a recent mental health diagnosis or owning up to regular tobacco use.
The more information you can provide about your own health is better. Include both during the application process and during the life insurance medical exam. Then it is less likely your insurer will require you to provide an Attending Physician Statement for life insurance. This means the sooner you may be able to receive the peace of mind that your approved with life insurance.
Do You Need One?
Do you need an APS before you can take out a life insurance policy? It depends on the applicant. If a life insurance company decides that they need more information about your health before they can issue you a life insurance policy, they may request a physician’s statement to assess the situation further. If your life insurance company is satisfied with the medical information received in your life insurance application and/or your in-person medical exam, they won’t require you to provide an additional APS.
Reach out to us and speak to one of our Life Insurance Professionals for more information.