Life Insurance No Medical Exam

Life insurance no medical exam - convenient coverage so you can enjoy life!Life Insurance No Medical Exam

Looking for a life insurance policy with no medical exam required? You have plenty of choices. A number of reputable, highly-rated insurance companies offer “non-med” policies. When shopping for a “life insurance no medical exam” (simplified issue) policy, you should consider a few things.

  1. “No exam” policies are typically more expensive than their “exam required” counterparts.
  2. Coverage amounts might be limited to an amount that is too small for your needs. Many “no medical exam” policies limit the amount of death benefit to $250,000 – $350,000, depending on your age.
  3. Many “no exam” policies lack a “conversion privilege”. This can present a problem if you need to continue your insurance coverage beyond the “level term” period.
  4. On the plus side, no medical exam means that your policy is generally issued more quickly. A fully underwritten policy with a medical exam can take 8 to 12 weeks to get approved and placed in force. Compare this with the 24 to 48 hours you might wait for a “simplified issue” policy.

With that said, non-med and no-exam policies are a popular choice. Not having to submit to a blood test or spend the time having a paramedical examiner visit your house to check your height, weight and vital signs is convenient. While you will likely pay more for the convenience, sometimes it’s worth it.

Is a “life insurance no medical exam” policy right for me?

It can be. Consider your options and check life insurance rates on a variety of policies. You might find that the added cost is (or isn’t) worth the convenience. When you are ready to apply for any life insurance policy, with or without a medical exam, simple contact us and we will help you go through the process.

*On a personal note, I have several life insurance polices in force, including a non-medical exam policy that I recently acquired. I bought it because in the process of buying a new home, I ended up with a larger mortgage and I wanted to make sure that we had enough death benefit so that my wife could pay off the mortgage if something happened to me. I chose the “life insurance no medical exam” route for this particular policy just because with the hassle of buying the house, I didn’t want to go through the hassle of a scheduling a paramed exam. Plus, I didn’t want to wait 8 weeks for my policy to get issued!

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About The Author

Richard Eddy

Founder of Rates4Term.com and Cona Financial Group Richard Eddy has been assisting clients with their life insurance needs since 2005. He is an expert helping people find the right policy to fit their specific situation. In addition to insurance planning, he is also experienced in a wide range of financial planning topics including investment and portfolio analysis, tax planning, retirement planning and estate preservation strategies. You can call Richard toll-free at (877) 883-3561.