Paramedicals and Pre-Screening
In some cases, in order to complete your insurance pre-screening process, a paramedical may be sent to complete a blood and urine test. While we understand that the word ‘paramedical’ may have some negative connotations, the truth is that the process is relatively innocuous, simple and no cause for concern. In most cases, the paramedicals will even visit you are your home or office, making the process as pragmatic and convenient as possible.
There are some cases which require that you visit their office to complete a stress test; however, those are usually performed for larger asset driven policies or for those of advanced age.
Preparing for the Paramedical
In general, it’s best not to do anything out of the ordinary before your paramedical visit. Sometimes people feel the necessity to work out or change their diet prior to their appointment, which can actually produce undesirable results. It’s best to try to keep your body in a normalized state. Twenty-four hours prior to your paramedical visit it’s best to consider the following:
- Limit your salt intake
- Avoid high cholesterol foods
- Avoid drinking alcoholic beverages
- Avoid strenuous exercise (these can escalate levels in your blood pressure, cholesterol, or put stress on your body)
- Drink lots of water and generally keep hydrated
- Have a good night’s sleep
- Avoid Coffee (it’s best to skip the morning coffee, as caffeine may elevate your blood pressure readings)
- Avoid cigarettes (nicotine may also elevate your blood pressure readings)
Sometimes you will be required to report your last doctor’s appointment and the nature of the visit. You may also be asked about your immediate family’s medical history (mother, father, siblings). While it’s not your job to have audited your family’s medical history or know every detail, it is good to know about any potential hereditary medical conditions that your family may possess, such as a history of stroke, or cancer. In general, it’s best to be prepared to answer questions of this nature to the best of your ability.
In Good Faith
While this may seem like a bit of an inconvenience, the overarching benefit is that you’ll have completed the process in good faith and, generally speaking, the insurance will be enforced. It’s a small price for lasting peace of mind.
Ask Before You Assume
Sometimes people assume that they can’t or won’t qualify for an insurance policy; however, it’s best not to make assumptions. Instead, we highly recommend talking to your broker first. The truth is that certain insurers understand your financial and medical situation and are willing to take on that risk and give you a fair premium.
Let MGF Advisory Help
Marco Faccone, CPA, CA, CFP has long specialized in the area of corporately held insurance and estate planning, advising and assisting shareholders with succession and wealth accumulation strategies. Marco has worked alongside estate lawyers and tax accountants to offer his clients a professionally tailored and value-added plan. Contact MGF Advisory for more information regarding corporately held insurance and succession planning.
This post was written by Marco Faccone