A “statement of health,” also known as a health declaration or evidence of insurability, is a document or form that an individual completes and submits to an insurance company when applying for or modifying a life insurance policy or living benefits insurance (such as disability insurance, critical illness insurance, or long-term care insurance). This statement provides the insurer with current information about the applicant’s health status, medical history, lifestyle choices, and any other factors that may affect their risk profile and insurability. It’s the full set of health questions you answer when you apply for coverage or change it; a statement of good health is a shorter declaration that nothing has changed since.
Key aspects of a statement of health include:
Health information
Details about the applicant’s past and present health conditions, surgeries, treatments, and any ongoing medical issues.
Lifestyle factors
Information on habits that can impact health, such as tobacco use, alcohol consumption, drug use, and participation in high-risk activities or sports.
Family medical history
Information on health conditions and diseases that may run in the applicant’s family, which could indicate a predisposition to certain health risks. Under the federal Genetic Non-Discrimination Act, no one can require you to take a genetic test, or to disclose the results of one, as a condition of getting insurance.
Medication
A list of medications the applicant is currently taking, including dosages, which can provide insights into the management of existing health conditions.
Physician information
Details of the applicant’s primary care physician or any specialists they consult, which may be used for further inquiry or to verify health information.
The purpose of the statement of health is to assist the insurance company in assessing the applicant’s risk level accurately and determining their eligibility for coverage. Based on this assessment, the insurer decides whether to offer the insurance policy, set the premium rates, and establish any exclusions or limitations on the coverage.
Completing a statement of health accurately and honestly is crucial, as any misrepresentation or omission of relevant health information can lead to the denial of a claim or the cancellation of the policy. Once a policy has been in force for two years, the insurer generally can’t void it for a misrepresentation unless there was fraud. For disability insurance, this protection doesn’t apply to a claim for a disability that began in the first two years.