What is Evidence of insurability?
The evidence of insurability form (EOF) is documentation that requests information from policyholders regarding any medical conditions, prior claims, and financial information.
This documentation is used to determine whether a policyholder is eligible to receive coverage, the evidence of insurability form is required for all health insurance policies.
An insurance company will review evidence of insurability forms to determine whether or not someone qualifies for a particular policy, if the insurance company finds that an applicant is eligible, the applicant will be issued a policy.
Why are evidence of insurability documentation necessary?
This documentation helps to establish whether an individual is eligible for insurance coverage. The forms may ask for information about the individual's health history, family health history, and lifestyle habits. The forms help insurance companies to determine the risks associated with insuring an individual and to set premiums accordingly.