An attending physician statement (APS) is a comprehensive document crafted by a health care provider detailing a life insurance applicant’s medical history, current health condition and ongoing treatments. This statement supplies insurers with in-depth information for evaluating risk and effectively setting policy terms and rates. A completed APS can be instrumental in the underwriting process, allowing insurers to make well-informed decisions regarding policy eligibility.
What Is an Attending Physician Statement (APS) in Life Insurance?
Updated: September 26, 2024
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Role of an Attending Physician Statement in Life Insurance
An APS can be integral to the life insurance underwriting process.
When an insurance company requests an attending physician's report, they want a transparent view of an applicant's health. This comprehensive data ensures that underwriters have all the necessary information to make informed decisions regarding policy issuance and premium settings.
Life insurance companies rely on the physician's statement, along with other factors, to set premiums and determine coverage levels. Detailed health information can also be a deciding factor in the approval or denial of insurance applications. The APS is particularly critical for applicants with complex health issues as it highlights risks that might not be evident through standard medical exams alone.
Impact of a Physician's Statement on Life Insurance
The details provided in a completed APS can significantly influence life insurance costs and underwriting decisions. For example, chronic conditions like diabetes or heart disease in APS medical records can significantly increase premiums due to the higher risk they pose. Conversely, a clean bill of health can lead to lower premiums, reflecting a lower risk profile.
Several specific health conditions documented in an APS can lead to adjustments in insurance costs:
- Cardiovascular diseases: Conditions such as hypertension or coronary artery disease are seen as high risk and often result in higher premiums.
- Mental health issues: Disorders like depression or anxiety, when noted in an APS, can influence underwriting decisions and potentially alter premium settings, especially if they are interpreted as impacting life expectancy or quality of life.
- Cancer: A history of cancer, depending on the type and treatment outcome, might significantly increase premiums or influence the type of coverage offered.
Understanding these impacts helps applicants and insurers navigate the complexities of life insurance underwriting, ensuring that each policy is tailored to reflect the insured's health risks accurately.
How to Obtain an Attending Physician Statement
Obtaining an APS for life insurance involves a straightforward process that ensures the insurer receives accurate and comprehensive health information about the applicant. Here's an expanded look at the steps involved:
- Authorization: Initially, the applicant must provide written consent authorizing their physician to release their medical records to the insurance company. This step is essential to complying with privacy regulations and ensuring transparency.
- Physician cooperation: The applicant's physician, who has a detailed history of the applicant's health, fills out the APS form. This completed APS includes a detailed medical history, current health status and any treatments the applicant receives. The physician must provide thorough and precise information to avoid any discrepancies that could affect the life insurance underwriting process.
- Submission: Once the APS is completed, it's submitted to the insurance company. The underwriters review this document in detail and add it to the underwriting file.
Timeframe and Expectations
The timeframe for obtaining an APS for life insurance can vary widely depending on several factors:
- Physician responsiveness: The speed with which a physician completes and returns the APS can affect the overall timeline.
- Complexity of medical history: More complex medical records may take longer to compile and review.
- Insurance company procedures: Depending on their internal practices, some insurers may process APS documents quicker than others.
Typically, applicants can expect the process to take anywhere from a few weeks to a month. Applicants should stay in communication with both their physician and insurance agent to ensure a smooth process. Understanding these steps and what to expect can help applicants better prepare for obtaining an APS for life insurance.
How to Fill Out an Attending Physician Statement Form
Filling out an APS form requires the attending physician to enter comprehensive medical information about the patient. This includes detailed health history, current conditions, treatment plans and any medications, ensuring the insurer receives a complete picture of the applicant's health.
An APS for life insurance can vary in content but generally covers areas critical to evaluating health risks associated with life insurance candidates. This includes:
- Medical diagnoses: Accurate and up-to-date diagnoses of any existing health conditions.
- Treatment plans: Details of current or past treatments that an applicant has undergone, which may influence their health risk profile.
- Prognosis: An assessment of likely health outcomes, which helps insurers predict future medical issues or stability.
Each APS provides a snapshot of the applicant's health, which is instrumental in the underwriting process. This ensures that policy decisions are based on solid, documented medical information, enhancing the accuracy of life insurance assessments.
MONEYGEEK EXPERT TIP
Obtaining life insurance with no health questions or medical exams is possible, but these often come at a higher cost. These policies, including guaranteed issue, AD&D, group life and final expense insurance, are generally recommended for those with significant health issues that might prevent them from passing a traditional medical underwriting process.
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FAQ About Attending Physician Statements and Life Insurance
Explore these frequently asked questions to better understand the role and process of obtaining an APS in life insurance, ensuring you’re well-informed about how this critical document influences the insurance underwriting process.
What is an APS in life insurance?
An attending physician statement (APS) in life insurance is a detailed document provided by a doctor that outlines an insurance applicant's medical history, current health condition and treatments, which insurers use to assess risk and determine eligibility and premiums.
What purpose does an attending physician statement serve for life insurance?
An APS is essential for accurately assessing an applicant’s health risks, which helps insurers set appropriate premium rates and coverage limits, particularly in underwritten life insurance policies.
How can you obtain an attending physician statement?
To obtain an APS, you need to authorize your doctor to release your medical information to your life insurance provider, who will then request the APS directly from your physician.
How do you fill out an attending physician statement?
Filling out an APS form involves a health care provider documenting your medical history, current health status and any treatments or medications, ensuring all sections are detailed and accurate to provide insurers with comprehensive health data.
How long does it take to get an APS for life insurance?
The time it takes to receive an APS can vary, generally ranging from a few weeks to over a month, depending on the physician's promptness and the complexity of the applicant's medical history.
Do you have to pay for a life insurance APS?
Generally, the insurance company covers the cost of obtaining an APS as part of the underwriting process, though policies may vary between insurers.
Do all life insurance companies request an APS for underwriting?
Most life insurance companies will request an APS during underwriting, especially if the policy is of high value or the applicant has known health issues. Some policies, particularly those with lower coverage amounts or those that don't have health questions and medical exams, may not require an APS as part of their underwriting process, streamlining the application for quicker approval.
Do you need an attending physician statement for disability?
Yes, it's important to have an APS for disability insurance. It provides proof of medical condition and ongoing treatments, influencing the approval and terms of the disability coverage.
How does an APS support short-term disability claims?
An APS supports short-term disability claims by providing detailed information on the applicant’s medical condition and the expected duration of the disability, which helps insurers assess the validity and extent of the claim.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.