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What is Attending Physician's Statement (APS) in Life Insurance?
<lingo>An Attending Physician's Statement (APS) is a document that is signed by a doctor, or in some cases a hospital or treating medical facility, that provides insight into a person’s health and condition for the purpose of purchasing life insurance. The only provider that can sign this type of document is one that has specifically treated the person who is seeking life insurance. It is a full report that provides information into the applicant’s health and his or her ability to qualify for a life insurance policy.</lingo>
Attending Physician's Statement (APS) Clearly and Briefly Explained
In many situations, the APS is a required document for a life insurance policy. Individuals must obtain this document to show the life insurance company that they are a safety risk. It is a component of determining the amount of risk a specific party has to a life insurance provider. In most situations, this document is listed as a requirement of the underwriting process.
When a person applies for a life insurance policy, the insurer may require an APS. This is done in most situations to determine if the individual is healthy enough to obtain coverage. It is an expensive part of the process of determining the risk associated with that individual, but insurance companies need this insight to make key decisions about extending coverage.
<twitter>An Attending Physician's Statement (APS) is a document that is signed by a doctor, or in some cases a hospital or treating medical facility, that provides insight into a person’s health and condition for the purpose of purchasing life insurance.</twitter>
In most cases, the APS takes time to complete. This can take several weeks in some situations. A doctor must provide a thorough examination and then provide a report that provides key information about the applicant’s health.
In some situations, the APS can be the determining factor to extending life insurance to a specific individual. Not all insurance companies require this, but it is usually done if there are any factors that could indicate a person may not be as healthy as others. It should cover all of the doctor’s or medical facility’s experience with the individual. This is a detailed medical report of the patient who is seeking out life insurance. As such, it can be very important to get it completed accurately.
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