Is the thought of having a paramedical exam bringing you down? Do you just really hate the thought of dealing with needles? Some people might have “white coat syndrome” causing elevated blood pressure readings just from being in a doctors office. Whatever your reason, you can bypass the nurse and needles and the whole paramedical exam in full. Life Insurance with no medical exam isn’t too hard to find these days.
I am putting together today’s article to help those who really want to get their life insurance taken care quickly, painlessly and affordably. If that sounds good to you, read on.
Life Insurance Without an Exam
Aside of life insurance with no medical exam life insurance being a more convenient way to obtain approval but the policy is delivered much quicker. The insurer isn’t waiting for doctors records or a paramedical report like a traditional life insurance application. With no medical exams life insurance, approval can be done instantly in many cases by the insurance companies electronic application processing to just a few short days in other cases. Your not waiting 4-6 weeks for approval or the actual rate class your were approved at.
For many people, this life insurance without an exam is a real winner. The coverage is just easier to obtain, and for many, less invasive and strenuous to apply for. Having a nurse scheduled to fit into your schedule at home may be something you just don’t want to deal with. No exam life insurance is a option worth considering if you want go the fast and easy route.
Now, I am going to point out the downside to life insurance with no exam …
While having ease of issue, life insurance with no medical exam, does come at a price. The premiums will be a higher than policies that require a paramedical exam as a general rule. The insurance companies will not have up to date health information if they do not require a paramedical exam as part of the application process. Therefore, the risk you would pose to the insurer is greater than the traditional route requiring an examination. To negate their added risk, the life insurance company does apply a reasonable increase to the premium to offset this. That is the nature of the beast, so to speak.
There are also limits to the maximum amount of coverage (death benefits) you can obtain with an no medical exam policy as well. Term life insurance policies exceeding $1,000,000 are readily available. Whole life policies for end of life planning to $50,000 are readily available. Some carriers go beyond this if your health is very good for your age.
Wrap Up: No Medical Exam Required
If you are needing a large life insurance policy, you may be forced to go the traditional route. Keep that in mind. No medical exam life insurance is not always the best solution either. With large life insurance policies, insurers need to put the insured individual under the microscope. At this point and assuming approval from the life insurance company, the amount of money being saved by having the free medical exam they is in your best interest. It will likely translate into a lot of savings in your premiums as it removes the uncertainty factor that the insurer will otherwise have.
Why?
The exam gives them up to date information as to where your health is at. Uncertainty equals higher premiums all else being equal.
For a great number of people no medical exam life insurance is the best solution to get things done quickly, painlessly and without all the added hassle. Whole life, term life and even universal life insurance is available thru modern technology allowing insurers to bypass some of their older methods of underwriting insurance coverage. 25 years ago, this wasn’t available.
We process 99% of our clients life insurance applications right over the phone. If you have smart phone, you have all the technology you need to make application for life insurance. We have access to all the top insurance companies right here in our office.
Hope this article has given some insight on life insurance with no medical exam.
Is is right for you? Give us a call and lets talk about your situation and go from there. Consultations with us are always free and never any obligation, 269-230-3464.
Michael is a veteran independent life and health insurance agent who specializes in guiding people with even high risk health conditions thru the insurance process. He is passionate about helping individuals and families get their unique financial protection needs met, providing his experienced based advise and delivering affordable, dependable coverage you can count on.
