According to reliable studies, about half of us don’t think we have enough no exam life insurance and about a third have no life insurance at all. It is impossible to totally explain the gap between people how know they need no exam life insurance and those who knowingly have not purchased enough to protect their families. However, some consumers say they believe that life insurance is expensive and hard to get. However, for the average person, term life insurance with no medical exam is relatively easy to buy and affordable.
Your rates will depend upon your city, age, medical condition, the amount and type of life insurance you would like to purchase, and the insurer that you choose. We can help you compare online quotes for the best no exam life insurance companies. Get started by typing your ZIP code into the form on top of this site. After you review top companies in your city, click any of the entries for more information.
How Does Term Life Insurance With No Exam Work?
Many top companies offer term life insurance without a medical exam. While companies are different, these are some common features:
- Face values: Typical maximum face values without an exam are about $350,000 to $400,000.
- Age: Companies usually require a medical exam after retirement age. People over about fifty may be limited to shorter terms and lower face values too.
- Health underwriting: Even though applicants don’t need to take a physical, they will need to answer health questions. The answers could get verified by third parties like the local motor vehicle department or even the applicant’s doctor.
- Approval: Some companies take no exam life insurance applications online or over the phone, and they may have expedited or even quick digital approvals. Many policies get approved with a day or two instead of taking several weeks.
One frequent example of no exam life insurance is called mortgage life insurance. Most people who have recently bought or refinanced a home will probably find some ads for this product in their mailbox. Insurers are usually willing to offer a moderate amount of coverage without asking for a physical for people who have recently been approved for home loans.
For example, people might choose a ten-year term or 20-year term no exam life insurance policy to closely match the amount of time left on their mortgage. Younger adults may also choose a 30-year term, but this option gets scarcer and more expensive as people age.
Buying a house, having a child, or getting married are frequent times when people choose to purchase coverage. It might also be true that insurers figure that people who just got approval from a mortgage company are good risks to insure.
Is No Exam Term Life Insurance Best for Every Person?
In many cases, no exam term life insurance rates are low. But smokers, seniors, and those with certain medical conditions may pay more or not even get accepted at all. Some insurers accept diabetics, but they only accept Type 2 diabetics who can demonstrate very good control of their chronic health conditions.
There is no doubt that many people can find low prices on term policies, and this makes this type of no exam life insurance very popular. However, seniors and people with certain health issues might have better luck with whole life insurance. Unlike term, whole life does not expire after a certain time so that people can enjoy lifetime protection from one policy.
No Health Questions Asked Life Insurance
In fact, burial insurance is a kind of no exam life insurance that is available for people in their 50s to their 80s. Burial policies may ask very few medical questions, and some of them ask no questions at all. Most relatively active people can qualify by answering the medical questions, and this usually is better because rates are lower and benefits may be better.
When insurers do not do any health underwriting at all, they may have long waiting periods before full benefits are payable. Still, both kinds of burial insurance might be a sound choice for people who cannot qualify for other types of life insurance because of their medical condition.
Get Whole or No Exam Life Insurance Quotes on the Internet
You know you need more life insurance, and you could take the first step in the next five minutes. Shopping for the right no exam life insurance company and reasonable rates does not have to be difficult. Just key your local ZIP code into the box at the top of this web page.
After that, review a list of the no exam life insurance companies that want to compete for your business. From there, you can click on any interesting offers to learn more and find contact information. We want to help all of our website visitors find the best life insurance companies and most affordable premiums.