low cost term life insurance no medical exam

Low Cost Term Life Insurance No Medical Exam

How does one obtain a low cost term life insurance with no medical exam?  By definition, a no medical exam policy will always be more expensive than a fully underwritten policy.  If the life insurance company can perform a physical exam on the applicant, in addition to obtaining the applicant’s medical records, it will be able to better establish the risk and, therefore, offer a competitively priced premium. If they do not do a physical exam on the applicant, they will not be able to truly determine the risk associated with that applicant and will have to increase the premium in order to compensate for the unknown.

With full underwriting the insurance company sends a paramedic to your home to obtain blood and urine samples, check your blood pressure and height and weight and possibly do a resting EKG too.  The paramedic technician will also ask you several “yes” or “no” health questions. In addition, the insurance company will ask your doctor to provide your medical records, which you authorize them to do so as part of the life insurance application process. The insurance company then reviews all of this health-related information about the life insurance applicant and proceeds to issue a health rating, which may be one of the following: PREFERRED PLUS; PREFERRED; STANDARD PLUS, or STANDARD, or similar terms. Or, if the applicant’s health warrants it, they could go even lower and do what is called “RATE” the case. As you can anticipate, the worse the health category, the higher the premium.

Simplified Underwriting

Underwriting that does not require a medical exam is called SIMPLIFIED UNDERWRITING. In this type of underwriting the insurance company will just ask you a dozen, or so,  “YES” or “NO” health questions on the application and there will be no medical exam.  But, in most, possibly all, instances, even for a no-medical-exam policy, the insurance company will obtain medical records from your physician.

Fully Underwritten or No Medical Exam?

There are advantages to going through a full underwriting process which includes a medical exam, etc.  If you are in good health, you can qualify for a preferred health discount. The insurance company will require a physical exam, as described previously, in order to obtain your lab results and assure themselves that you are a preferred risk.

Some folks, understandably, do not like to submit themselves to a medical exam. They may be concerned with finding out about some disease, or physical condition, they were not aware they had.  You might find out that you have high cholesterol, high blood sugar or elevated liver enzymes, for example. But, is it not better to find out sooner rather than later that you need medical attention? Some people just do not like physical exams of any kind.

We don’t recommend and advise you against attempting to get a no-medical-exam life insurance policy, as a means to try to hide a diagnosis from an insurance company.  If you provide false or incomplete information on your life insurance policy the insurance company could refuse to pay the death benefits. And, it may be considered fraud.

If you are interested in getting a no medical exam life insurance

If knowing that you will be paying more for the premium, and perhaps be limited as to the amount of the life insurance protection, for whatever personal reasons, you still opt for a no medical exam policy, do disclose all your illnesses, present and past on the application. Your agent will do a better job for you if he/she has all the facts on hand before he/she recommends a company and policy for you.

How Do You Find The Right Insurance Policy For You?

As you initiate your search for a life insurance policy, whether fully underwritten or no medical exam, we can help you if you do one of the following:

  • Complete the REQUEST FREE CONSULTATION form that appears to the right side on this page and click “SEND”. Upon receipt, we will start working with you to find the life insurance policy that best meets your personal and financial goals. This will be the easiest way to find the policy you are looking for.
  • Call our Toll Free Number (888) 950-8376.
  • Or, if you would like to explore by yourself, use our Quote Engine, also on the right side of this page, and do term life insurance quote comparisons to see what the premiums will be for the different types of policies, face amounts and maturities, etc. Once you have decided on a particular policy, we will help you get the application, file it with the life insurance company and through the entire process until the policy, if approved, is issued. And, with the first online quote you get using our Quote Engine, you will receive a Free Book – please, see details on the right side of this page.
  • While the Quote Engine, is intuitive and self-explanatory, for complete details as to how to use it, please, click on the link below:

Do Not Delay It!

But, please, do not delay getting started. Tomorrow we all will be older than today and the older we become the costlier life insurance will be. Also, as we get older it is likely that our health may begin to deteriorate, in which case, life insurance premiums will also become more expensive.

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