No Health Exam Life Insurance
Most life insurance companies require a medical exam as a condition of issuing and underwriting a policy. However, there is a new trend in life insurance – no health exam life insurance. Many people hate having a physical or medical exam just for life insurance, and now they can obtain the life insurance they need without the inconvenience of a health exam. No health exam life insurance even makes it easier for applicants with potential health issues and preexisting conditions to purchase life insurance.
What Kind of Life Insurance Is Available With No Exam?
Most no health exam life insurance policies are term life insurance. This is the least expensive form of life insurance and it does not offer a cash value, savings or investment component. The policy is for a set term of between 5 and 30 years, unless it is temporary life insurance, and premiums may be fixed, increasing or decreasing depending on the conditions of the particular policy. As a rule there is a limit to the amount of the death benefit offered on life insurance without a physical exam, so those who require higher policy limits may not have this option.
No Exam Life Insurance Quotes
In addition to lower death benefits, the no health exam life insurance policies usually feature higher premiums than other term life insurance because the insurer is facing a greater risk when not being able to ask health questions during a medical exam and using the information for underwriting.
As with other types of life insurance, premiums for young, healthy individuals are lower than those for other risk groups. Some life insurance companies offer a specialty no exam, no health question term life policy for seniors with low death benefits to cover final expenses. These policies are comparatively affordable, but are offered only to those over 50.
Advantages of No Physical Exam Life Insurance
For those who do not want to take time from their schedules, or who simply dislike undergoing medical exams, no health exam life insurance may be the right choice. While most life insurance companies only offer death benefits up to $100,000 on these policies, some of the best life insurance companies have limits up to $250,000. Not everyone can qualify for a no medical exam policy, which includes those with serious health problems, preexisting medical conditions or dangerous lifestyles, but for those who qualify and do not need high life insurance limits, a no exam policy may provide excellent protection for financial dependents.
Life Insurance Quotes
Consumers can find out more about no health exam life insurance with TheLifeInsuranceQuote.com, who offers free, instant no exam life insurance quotes. We help consumers get life insurance quotes to compare the rates, coverage, and policies of different life insurance companies for term life policies.
Individuals considering no exam insurance will have a better chance of finding the best policy for their needs when they compare life insurance from multiple companies. Enter your zip code now to begin a life insurance quote.
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