Life Insurance Simplified: What's An Aps?

An Attending Physician Statement (APS) is a report written by your doctor that provides a summary of your current health condition and medical history. It is often requested by insurance companies as part of the underwriting process when applying for life insurance coverage or other types of policies. The APS helps insurers accurately evaluate your application and manage their own risks by understanding your medical history and current medical status. While it is not always required, an APS may be requested if there are conflicting results in your medical information or paramedical exam results, or if you are currently being treated for a health issue. The cost of obtaining an APS can range from $75 to $300, and it is typically covered by the insurer.

What is an APS?

An Attending Physician Statement (APS) is a report written by your doctor to detail your health and provide a summary of your current health condition. It is requested by your potential insurer when applying for life insurance coverage or other types of policies. The APS helps the insurer better understand your medical history and current medical status, allowing them to accurately evaluate your application and manage their own risks.

The information contained in an APS can vary depending on what the insurer is looking for. Typically, it includes details such as your prior diagnoses, health history, treatments, medical issues, and possible symptoms of an undiagnosed disease. It may also cover physical or mental health conditions such as anxiety, depression, or other mental health issues. The APS provides a comprehensive review of your health, including your medical history and any known medical conditions, to help the insurer assess your risk.

In most cases, the medical information provided in your life insurance application and/or medical exam is sufficient to determine your eligibility for a policy. However, if the insurer needs additional context or has questions about your health, they may request an APS. This is more likely to occur if you have complex or chronic medical conditions, or if your medical exam reveals abnormal findings.

The process of obtaining an APS can be relatively straightforward but is often lengthy. You need to obtain it from a doctor who has treated you in the past or is currently providing treatment. The cost of an APS can range from $75 to $300, and some insurance companies may cover this expense.

When is an APS required?

An Attending Physician Statement (APS) is a detailed report summarising your current health condition. It is usually requested by insurance companies when they need more information about your health before offering coverage. An APS is not always required, but it is often necessary for those with pre-existing medical conditions or conflicting medical information and paramedical exam results.

Insurance companies assess your health through a process called underwriting, which includes a medical exam and the submission of information about your current health, medical history, lifestyle, and family medical history. If an issue arises during the medical exam, an APS can clarify whether it is due to medication side effects or an underlying medical issue.

Insurers typically request an APS when they need more details or context regarding the medical information provided in your application. This could include information about current treatments for health issues such as diabetes, hypertension, or bipolar disorder, or "abnormal" findings from a paramedical exam.

APS requests are also common with critical illness and disability insurance. An insurer may request an APS when you initially apply for a policy and periodically thereafter if you are collecting benefits. This allows them to understand your condition and determine if you still qualify for benefits.

If you are applying for simplified, guaranteed, or other types of non-medical life insurance, an APS is typically not required. These policies are designed to streamline the process and provide coverage for those with pre-existing conditions.

Who completes an APS?

An Attending Physician Statement (APS) is a report written by a doctor or medical facility that has treated or is currently treating the person applying for life insurance. It is a summary of the patient's health condition, detailing their medical history, treatments, and any potential health risks. The APS provides additional context to the medical information provided by the applicant in their insurance application or during their medical exam.

The APS must be completed by a doctor who knows the patient in person, such as a primary care physician or a specialist treating a specific health issue. The insurer may request an APS from a specialist the patient has seen instead of their family doctor. For example, if the patient is receiving treatment for a mental health issue, the insurer may request an APS from a psychiatrist. The APS can also be provided by a medical facility on behalf of its medical team.

It is important to have the proper doctor complete the APS, as some insurers may deny a statement provided by anyone who is not the patient's attending doctor. This can cause delays and lengthen the application timeline.

The APS process can be lengthy, as it requires time for the doctor to fill out the necessary paperwork and for the insurer to process and extract the information. The APS is a critical component of the underwriting process, as it helps the insurer accurately evaluate the application and manage their risks.

What is included in an APS?

An Attending Physician Statement (APS) is a detailed report about your health, written by your doctor, that insurers may request when applying for life insurance coverage or other types of policies. The information included in an APS varies depending on what the insurer is looking for, but it generally covers your health history, treatments, and medical issues. Here is what is typically included in an APS:

History of the Condition

The doctor explains how long they have been treating the patient, including when symptoms began, dates of treatment, and previous attempts at treatment.

Diagnosis

The APS includes the dates of examination by the physician, including any complications.

Treatment

Details on the type of remedy, frequency, and the dates of the first and last visit are included.

Progress

The APS also covers whether the patient is managing their illness and if there have been any improvements since treatment began.

If you are being treated by multiple doctors for different conditions, the insurance company may ask for an APS from each doctor treating each condition. The APS helps the insurer understand the details of your medical history so they can accurately assess the risk your diagnosis poses to your health.

How much does an APS cost?

An Attending Physician Statement (APS) is a detailed report about your health that insurers may request when applying for life insurance coverage or other types of policies. It is written by your doctor, and the information included in the APS varies depending on what your insurer is looking for. The APS helps the insurer better understand your medical history and current medical status, allowing them to accurately evaluate your application and manage their own risks.

The cost of an APS is typically covered by the insurance company, and you should not be required to pay for it out of pocket or through your health insurance deductible. The APS cost is usually around $150 or more, and insurers will only request it if they deem it necessary. The APS can lengthen the underwriting period, but it ensures that you get accurate policy rates.

The APS provides valuable insights into your health and medical history, helping insurers determine your eligibility, rating, and premium rates. It is not always required, but when requested, it is a straightforward process. The APS may include information about your prior diagnoses, health history, treatments, medical issues, and possible symptoms of an undiagnosed disease.

In summary, the cost of an APS is typically covered by the insurance company, and it is an important tool for insurers to assess your health and determine appropriate premium rates.

Frequently asked questions