Statement of Health

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.

Key aspects of a Statement of Health include:

1. Health Information: Details about the applicant's past and present health conditions, surgeries, treatments, and any ongoing medical issues.
2. 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.
3. 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.
4. Medication: A list of medications the applicant is currently taking, including dosages, which can provide insights into the management of existing health conditions.
5. 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. It's an essential step in the underwriting process, ensuring that the insurance contract is based on a clear and accurate understanding of the applicant's health status.