Only a handful life insurance companies offer exam-free life insurance policies. This is the problem with most of these companies. They have a limit on their benefit ceiling. This means that your maximum benefit is quite low.
A policy that has a certain number of years. For example, 5, 10, 15, 20 etc. When the policy ends, the coverage ceases.
The term and whole life insurance policies do not require medical exams. But, whole-life insurance coverage's death benefits are typically less than $50,000. That's ten times less that the average limit for term lives. If an insurer does not offer coverage for medical exams with a higher mortality benefit, this usually means that the medical exam is dependent on your answers.
If you need life insurance fast, then no exam life insurance may be the right choice. The approval can take just a few business days. Those who don’t have the time to go to the doctors or are afraid of needles. It's suitable for people who don't qualify for traditional life insurance. This type of life insurance does not require any exam and offers immediate coverage.
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You should also leave enough money to your beneficiaries if you need it. Same goes for outstanding bills like car payments, utilities, and other daily living expenses.
No medical exam life insurance -- simplified option -- provides coverage without the need for physicals, blood tests, or urine tests. If you have pre-existing conditions or need coverage quickly, it is possible to get simplified issue life insurance. A simplified issue of term life insurance is a cost-effective and convenient option.
It has a fixed duration: 5, 10, 15, 15, 20, etc. The policy ends after the expiration date.
It can be difficult to find affordable life coverage. Understanding your options is the first step toward finding the right policy.
We compared life insurance companies for over-50s and focused on key features such as maximum age, no-medical exam policy options, available riders and financial strength.
This option can be a huge help. Ask your agent.
No exam life insurance
There are two types available for life insurance policies without a medical exam. A no-exam life policy could be right for you or your family, and it can offer a guaranteed issue or simplified option.
Two types of traditional insurance policies are Term or Permanent. Whole Life Insurance, the most popular type for Permanent Life Insurance, is the most preferred.
Can I get life insurance without a medical exam? Yes, some insurers offer no medical exam life insurance, usually called guaranteed issue or simplified issue policies.
Guaranteed issue, also called guaranteed acceptance, is a type of whole life insurance that requires no medical exam or health questionnaire. Most insurers only offer guaranteed issue life insurance to older adults, usually aged 50 to 80, although age limitations can vary by carrier.
Term and permanent life insurance options are available for individuals with a chronic illness. Some products, including simplified issue and guaranteed issue, are available without a medical exam. Policy options, premiums and coverage amounts may depend on how well a chronic illness is managed.