If you are looking for no medical exam life insurance, look no further. We can help you find quotes for a variety of options.
And if you are in relatively good health, instead of checking out life insurance with no exam, you might want to fill out a quote form for life insurance with an examination, as it will generally save you some money.
We can help you find several options for no exam life insurance. Here are some of the most frequently asked questions we receive on life insurance with no exam:
What is no exam life insurance?
No exam life insurance is just like the name sounds – life insurance with no exam. What that means is that your rate is generally determined by your age, gender, and some health questions you may answer. Because there is no medical examination or testing involved to help determine your insurability, the rates may generally be more expensive for no exam life insurance than for life insurance with a medical examination.
Are there different types of no medical exam life insurance?
Yes, there are generally three types of no medical exam life insurance:
Guaranteed issue life insurance, also known as guaranteed acceptance life insurance, usually entails no health questions and no medical exam. You cannot generally be turned down unless you are currently in a hospital or a nursing facility.
Graded benefit life insurance: there are usually no medical questions asked for this type of no medical exam life insurance. But buying this may be a little more involved than guaranteed issue. It’s generally used for those in their 50s and older.
Simplified issue life insurance: there is no medical examination here, but the person seeking life insurance will generally need to answer some medical questions.
How quickly can I get a no exam life insurance policy?
Since there is no examination involved, the turnaround time for a life insurance with no exam policy may be quicker than with a standard policy. A typical life insurance policy with an exam could take up to 4-6 weeks to be activated, due to the underwriting process. Since that underwriting process has been vastly shortened, if not eliminated, with no medical exam life insurance, the policy may go into effect much earlier.
Why would I want to buy a no medical exam life insurance policy?
While the policy is generally more expensive than a traditional policy, it may also help provide coverage to those who, due to health issues or age, may not be eligible for a regular life insurance policy. It also could be a good choice for those who don’t like medical exams.
Sometimes, those looking for a policy are those at the end of their years, who are planning to use the proceeds to pay for their burial expenses.
Why might life Insurance with no exam be more expensive?
It’s because there is no medical exam involved, and usually no underwriter. Instead, the price is generally based on an estimate of the insured’s life expectancy, which may be hard to determine without medical information. Thus, the price is generally higher, due to more risk incurred on the part of the insurer.
How can I get a life insurance with no exam policy?
Just fill out an online quote form to get more information.