If you are applying for either an individual life insurance policy or an individual disability insurance policy, the underwriting requirements are very similar. As such, there are advantages of applying for both types of coverages simultaneously.
Applying for life and disability insurance both require a parmedical exam. This includes a blood and urine test as well as physical measurements and blood pressure.
If you apply for either life or disability insurance, the results stay current for up to 6 months. Therefore, if you apply for one and later for the other, it is convenient to do it within 6 months so you can reuse the results.
If you apply for both at the same time but with different companies, you may take one paramedical exam and the results will be sent to each respective company.
There are no financial incentives to apply for both at the same time. There are no discounts available on life or disability insurance if you apply with the same company. Therefore, it is still important that you apply for the most suitable insurance for both the life and disability insurance.
For more information about applying for both life and disability insurance or to request a quote comparison, contact Set for Life Insurance today!