Life insurance helps you provide for loved ones after your death. With life insurance policies, yourget a cash payment when you’re gone, one they can then use toward .
Most insurance companiesbefore they approve you for life insurance coverage. You may be uncomfortable with this, or want to avoid it. Enter .
Many kinds of people may find no-exam life insurance appealing. No-exam policies can be smart if you have a pre-existing health condition, terminal illness, are a smoker or have a risky job (like fire fighting or construction).
Or, you may need life insurance as collateral for a loan or a sudden change in marital status like divorce. medical exam life insurance worthwhile.may bump up against age limits for some traditional kinds of policies and find no-
If you think you would benefit from a no-exam life insurance policy then reach out to an insurance pro now. They can help you get started with a free price quote so you know exactly what to expect.
No medical exam life insurance comes in both medical exams. They can also provide significantly lower coverage. Guaranteed life policies, for instance, are often $25,000 in coverage or less.policy forms. Though there’s no medical exam, each insurance type may ask for some health information on the application. Premiums are often more expensive than traditional life insurance policies that require
Types of no-exam life insurance policies to know
The first step in getting no-medical exam insurance is deciding what kind is right for you. Here are four main types
- Simplified issue: This insurance is often for people, including seniors, who are generally in good health but may have a few chronic health issues or medical conditions. The application typically includes a short health questionnaire.
- Guaranteed issue: These are aimed at older seniors or those who are in poor health. They don’t require a medical exam and guarantee a comparatively small death benefit for your beneficiaries. A few medical questions may be required.
- Accelerated underwriting: Sometimes called “instant” life insurance, this type uses artificial intelligence to gather and analyze data in lieu of a physical exam. Insurers may seek information like prescription history, driving records or previous medical exams to determine risk and cost. You may also be asked to fill out a detailed questionnaire or do a phone interview. The method can cut approval time from days or weeks to hours.
- Group life insurance: If you’re working, your employer may also offer group life insurance policies without requiring a medical exam, sometimes for free. The drawback? You likely lose coverage if you leave or lose your job.
If you think you would benefit from having a no-exam life insurance policy then reach out to a professional now or use the table below to start searching for providers.
Finding a provider for no-exam life insurance
Seek advice from an insurance agent, your financial adviser, or another expert before you apply in order to be certain that no-exam life insurance is the best option for you.
- Shop around for several quotes. Coverage and premiums can vary widely.
- If you are a veteran, check the U.S. Veterans Administration for lower-cost providers.
- If you are working, check to see if your employer is offering group life insurance.
- Consider whether a or type of policy is right for your circumstances.
- Seek out customer reviews and complaints to review.
Filling out the application
Once you’ve decided on a no-exam life insurance provider, you’ll need to fill out an application. Depending on the policy type, you can expect:
- Some basic questions, including those about your weight, date of birth, lifestyle habits such as smoking, drinking, recreational drug use, exercise and activities like extreme sports.
- Details of your health history and medication use (except with most guaranteed life insurance applications, which can be pricey).
- A request for financial information such as income and credit history.
- A request letter from your primary care doctor about your health.
Be honest with your answers. A life insurance company can deny coverage or payout if you aren’t being truthful on your application, like if you lie about smoking.
Follow the instructions to submit your application. Once you’ve submitted, it can take just hours for accelerated underwriting approval to weeks depending on the type of no-exam policy you’re seeking.
Get started now and see what you can qualify for!
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