Calculate how much life insurance you will need to cover the financial needs of your family, in the event of your untimely passing. You will also be able to find the right life insurance policy for you.
Learn about pros and cons of a no medical exam policy vs. a fully underwritten life insurance policy that includes a medical exam
Term Life Insurance Quote No Medical Exam
How does one obtain a term life insurance quote with no medical exam. The most common and frequent type of underwriting required to obtain a life insurance policy is Full Underwriting.
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 call “RATE” the case. As you can anticipate, the worse the health category, the more costly the policy premium.
Underwriting that does not require a medical exam is called SIMPLIFIED UNDERWRITING. In this type of underwriting the insurance company will just ask you some “yes” or “no” health questions on the application and there will be no medical exam. But, in most instances, even for a no-medical-exam policy, the insurance company will also 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. As you might imagine, if you can prove that you are in good health by taking a medical exam, there is very little risk that you will die prematurely and, therefore, the insurance company can insure your life at a much lower rate.
Some folks, understandably, do not like to submit 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?
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 too.
If you are interested in getting a no medical exam life insurance, speak to one of our licensed agents.
- Please call our Toll Free Number (888) 950-8376,
- or click on CONTACT US and fill in your contact information. One of our agents will help you get your life insurance quotes for both a no medical exam policy as well as for a fully underwritten policy. Then you can decide whether is worth paying more for the no-medical-exam policy.
Term Life Insurance Quotes Online
You can also view our video about getting quotes online by clicking below on
…and, please, remember, it is best to start a life insurance program when you are young and healthy
Information About No-Medical Exam Life Insurance.
In most cases life insurance companies require a medical exam as part of the underwriting process. The medical exam is done in order to come up with the Health Category of the applicant, and thus have a solid actuarial basis to establish the applicable premium. Many companies, however, do offer no-medical exam life insurance policies. If you are considering, for whatever reason, life insurance without medical exam, you should know that these policies tend to cost more (on a per dollar of coverage basis) and also offer less coverage. Still, it is one way to obtain an adequate amount of coverage for a reasonable amount in a fairly quick time. When you apply for life insurance without medical exam, you will be asked by the insurance company to complete a health questionnaire. In most cases, if you answer “YES” to any of the health questions in the health questionnaire, you will not qualify for the policy.
Below Is A Sample Health Questionnaire Found In Many No-medical Exam Applications:
- Do you require assistance with dressing, toileting, taking medication, mobility or eating or do you use oxygen for a medical condition?
- Have you been diagnosed with or been treated by a member of the medical profession for ALS, Lou Gehrig’s Disease, Alzheimer’s Disease, Dementia, Mental Retardation or Down Syndrome?
- Have you been diagnosed as having Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC), or received a positive result from a test administered by a physician for Human Immunodeficiency Virus (HIV)?
IN THE PAST 2 YEARS (SOME INSURANCE COMPANIES MAY HAVE DIFFERENT TIME STANDARDS SUCH 1 YEAR OR EVEN 3 YEARS):
- Have you been diagnosed by a physician with or received treatment for a heart attack (myocardial infarction) or stroke (cerebral vascular accident)?
- Have you had or are you now waiting for an organ or bone marrow transplant (except as a donor)?
- Have you had cancer; or received or been prescribed radiation chemotherapy or dialysis?
- Have you been advised by a physician of the possibility that your life expectancy may be less than 24 months?
- Have you been confined to or been advised by a physician to be admitted to a nursing home, extended care facility, hospice, or special treatment facility?
- Are you now confined to a hospital?
- Have you used controlled substances such as cocaine, heroin, amphetamines, hallucinogens or barbiturates except as prescribed by a licensed medical professional; or been treated for or been advised by a physician to seek treatment for drug or alcohol use?
- Have you had more than one DWI (DUI) violation, been convicted of a felony or are you now on probation?
HAVE YOU EVER?
- Been treated for insulin shock, diabetic coma, of have you taken insulin injections or by other methods prior to age 40?
We Can Help!
If you would like to find out which policy is best for you (fully underwritten or no-medical exam), give us a call at our Toll Free Number (888) 950-8376; or go to Contact Us; or call our Local Miami Number (786) 353-2528.
Looking For A No Medical Exam Term Universal LIfe Insurance
Many folks, understandably, look for the cheapest life insurance available. They typically start with term life insurance, which is indeed the least expensive life insurance coverage available. However, term life insurance, is, as its name implies, finite. It is no longer in effect at the end of the period for which it was issued. Then, if the insured wants to extend coverage, he/she will realize that it would have been better to obtain permanent life insurance initially. One type of policy that those looking for permanent and also affordable life insurance should consider, is Universal Life Insurance, which also is available on a no-medical exam basis, as indicated below.
Consider TRANSAMERICA’S TransTerm Universal Life
For those of you looking for a No Medical Exam Term Universal Life Insurance policy, who don’t want the hassle of a medical exam or don’t need a large amount of death benefit coverage, you may find a TransTerm universal life insurance policy the perfect choice for:
- Covering final expenses
- Getting supplemental coverage for a spouse
- Having separate coverage for second mortgage
- Covering college expenses
- Face amounts from $25,000 – $50,000, ages 18-70
- Face amounts from $50,000 – $99,999 ages 18-60
- Available with the following durations: 10 yrs; 15 yrs; 20 yrs; 25 yrs; or 30 yrs.
- Qualifying risk classes: Standard – Nonsmoker & Smoker; Rated Classes – Nonsmoker & Smoker
We Can Help You!
Call us at Toll Free Number 888-950-TERM today for free term or universal life insurance quotes. We will help you get the lowest cost term life insurance rates or universal life insurance rates possible. We are independent life insurance brokers committed to helping you get the best coverage available.
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