In many cases, life insurance companies will require applicants to take a physical.This is done to avoid the problem of:

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Life insurance companies require physical exams to avoid adverse selection, which refers to the tendency for high-risk individuals to buy insurance at higher rates than low-risk individuals. The physical exam helps insurers determine the risk level of the applicant, allowing them to price their policies accordingly and avoid overpaying claims. Moral hazard, paying claims, and transaction costs are not directly addressed by requiring a physical exam.

In Many Cases, Life Insurance Companies Will Require Applicants to Take