Understanding No Exam Life Insurance

Understanding No Exam Life Insurance

The image is of a male doctor examining an older man wearing glasses. The doctor’s hands just below his patient’s jawline. They both wear protective face masks per COVID restrictions. The image is in a red circle with a red line over it, signifying that life insurance can be obtained with no exam necessary.

No Exam
Life Insurance

Understanding No Exam Life Insurance

Getting an online term life insurance policy quote is the easy part. Actually receiving the policy can take longer and is a bit more complicated. The culprit? Medical underwriting.

However, if you’re interested in obtaining a term life insurance policy with coverage for between 10 and 30 years, it is possible to skip the medical underwriting process with no-exam term life insurance.

What Is Medical Underwriting?

It’s a process that helps insurance companies determine your health risk so they know how much to charge you. The bigger the risk you pose, the more your insurance company wagers they will have to pay your death benefit during your coverage period. To cover their risk, they charge a higher premium.

But it’s a good option for younger people who want term life insurance but are concerned about disqualifying due to a chronic health condition. It’s also good for those who don’t mind paying a higher premium to avoid the insurance health exam. You only have to fill out an online health questionnaire.

The time-saving factor is understandable, as medical underwriting involves a battery of medical tests, blood, urine, blood pressure, and so on.

Nearly all life insurance companies have a questionnaire. But they typically only ask about your gender, age, lifestyle habits, and any risky hobbies you indulge in.

Easy peasy.

The best part is, you walk away with all the benefits of a term life policy at a locked-in rate and a guaranteed payout of up to $2,500,000 should your family lose you unexpectedly.

It pays to shop around. You just might find the best life insurance company at the lowest rate despite a health condition. Because as underwriting algorithms improve, fewer insurance companies are requiring medical exams.

Also, the list of disqualifying conditions is smaller than you think. These circumstances include, but aren’t limited to:

  • Cancer
  • Organ transplant
  • Kidney disease
  • HIV positive or AIDS
  • Heart or artery disease
  • Lung disease
  • Hepatitis B or C
  • Gastric bypass
  • Crohn’s Disease
  • Multiple Sclerosis
  • Bipolar Disorder
  • Drug or Alcohol abuse
  • Epilepsy

Unless you fall into a disqualifying category, don’t let a trip to the doctor prevent you from getting life insurance. It’s too important. Your family depends on you.

Interested in the cheapest no medical exam life insurance? Compare life insurance companies today..

Nick Trawinski - Founder of PolicyWand
Nick Trawinski

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