No Medical Exam Life Insurance

happy_senior_coupleThese days, more and more companies are offering no exam life insurance plans and it is very likely that many more that are going to be offering this type of policy as well, soon. If you can qualify for the better no exam rates and you do not want to have an insurance medical exam then your best bet will be the regular no exam life insurance.

The best no exam rates do require you to answer health questions on the application. In addition to that, these companies will also run a department of motor vehicle report to check your driving history, they will do a pharmacy records search to see what medications you take or have taken in the past. In the event of your death, the good no exam rates will pay out the full life insurance amount to your beneficiary right away.

There are also some simplified issue and guaranteed issue types of no exam insurance that will not pay the full life insurance amount to your beneficiary until the policy has been in force for a full 2 or sometimes 3 year period. These type of no exam policies are only for people that have or have had more serious health issues, like heart disease, more recent cancers, Type 1 diabetes and others that will not qualify for the better no exam rates that payout full amount right away. These rates will obviously be higher than the exam required rates, since these “no exam” companies know that they will be getting some unhealthy people along with the healthy ones.  So everyone pays more because of this fact.

Most people with more serious health issues will be better off applying for the exam required rates that will also pay out full insurance amount right away, if they can qualify. If your health issues are more serious and you cannot qualify for any exam required insurance, then guaranteed issue life insurance will be your only option.

For more information, check out our rates!