Evidence of insurability or EOI is a term that is often used in the insurance marketing field. Evidence of insurability basically means proof or certificate of one’s health condition. In this case, the person has to provide details about his/her current health condition as well as about his or her past health events. The insurance companies ask for evidence of insurability before giving insurance to the person as they want to know about the possible future consequences of that person before approving the insurance. Most insurance companies ask some basic, in general, health-related questions before approving any kind of insurance. But when it comes to EOI, the questions are not so basic anymore. In case of evidence of insurability, some pretty deep health-related questions are asked by the insurance companies.
The type of evidence of insurability differs from company to company and insurance to insurance. Some companies can just ask basic questions like details about health history. But some other companies may want to see health reports and may ask to do specific health reports about specific things, and those health examinations should be done by a professional and licensed physician or health specialist.
Evidence of insurability is an important part of the insurance giving system. The companies mainly ask for evidence of insurability just to avoid risks. Before giving insurance to a specific person, they want to know about the person. After seeing the evidence of insurability, the companies take the decision whether they should approve the insurance or not. This explains the importance of evidence of insurability.