We believe everybody should be covered under a life insurance plan and we are prepared to help you find the best policies available on the market. If you are looking for no exam life insurance, our website will find the cheapest quotes from top insurance providers! We can also give valuable advice when it comes to purchasing a plan. Keep in mind that we do not sell insurance!
How does life insurance without medical exams work?
You are probably thinking of the risk an agency takes when insuring someone without a medical examination first. It is normal to be skeptical if you do not understand how the underwriting process works. The medical exams, blood tests and physicals are needed in order to determine the risks of every applicant.
Premiums are calculated according to the risk factor so it is possible to skip the medical examinations with two major consequences: higher premiums and lower coverage. Financially speaking, even if the insured dies during the policy’s term the limited coverage and the expensive premiums would have covered a part of the expenses!
What types of policies do not require a medical exam?
There are two policies in this category:
1. Simplified issue. This policy is issued in 24 hours, provides a maximum coverage of $250,000 and it is temporary. It is similar to term life insurance, minus the medical exams from the underwriting process.
2. Guaranteed issue is a low value-policy with coverage between $25,000 and $50,000. Unlike simplified issue, this policy is permanent which means that it does not expire. I is best used to cover funeral taxes.
What are the requirements for getting a no exam life insurance plan?
It is a myth that everybody can get this type of policies. They DO have an underwriting process, but unlike traditional policies, they only ask you to complete a questionnaire. The questions are about your medical condition and in order to qualify for a plan, you need to answer “no” to every issue. A person suffering from cancer, AIDS or other terminal diseases will not be able to qualify for coverage. Smoking does not disqualify you, but it makes premiums a lot more expensive (usually double).
What are the benefits of life insurance without a medical examination?
- They are issued in 24 hours. A traditional policy takes between three and six weeks!
- People with a precarious medical condition can qualify for coverage.
- Seniors can get life insurance easier.
- It covers funeral taxes and expenses.
- You skip numerous and tiring medical examinations.
In conclusion, is it worth purchasing a no medical exam life insurance? If you cannot get coverage under a traditional insurance plan, simplified issue policies can provide your loved ones with the financial safety they need! Our mission is to help you find the best policies for you and your family! We will search through hundreds of quotes just to find you the special offer you deserve!