UPDATED: Mar 26, 2020
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Some people avoid getting term life insurance because of the dreaded medical exam. Perhaps they hate needles, they are too busy to schedule the appointment, or they have medical problems and don’t think they would qualify for life insurance. Whatever your reason for avoiding the paramedical exam, you can still give your family the peace of mind they deserve. Many insurance companies offer a quick and easy no medical exam term life insurance policy.
What is it?
No-exam term life insurance is the fastest way to get a term life insurance policy. It is a time-efficient way to get the benefits you are looking for in an insurance policy. Like all life insurance, term life insurance no exam policies provide financial security for your loved ones in the event of your death. Below are several additional benefits to no medical exam term life policies.
- It does not require a doctor’s visit. Individuals who simply prefer to avoid visits to the doctor often choose to apply for life insurance with no exam online and avoid the need for blood tests or a medical examination.
- It shortens the application process. Many people choose to invest in no-exam life insurance for ease and convenience. By shortening or eliminating the underwriting process, many no-exam life insurance policies can be issued the same day you apply for coverage.
- You have the option for guaranteed coverage. Guaranteed issue life insurance enables applicants with health risks to obtain life insurance coverage. Before issuing a traditional life insurance policy, carriers evaluate an applicant’s insurability based upon a variety of risk factors including age, health complications, tobacco use, family medical history, occupation, hobbies and more. Those who are unable to qualify for life insurance based on this and other health factors may be able to purchase a guaranteed issue life insurance plan.
Pros and Cons
It is important to note that term life insurance with no medical exam does usually cost a bit more than fully underwritten life insurance policies requiring a physical examination. But if you find it necessary to avoid the paramedical exam it is your best option. A life insurance policy is the best way to secure your family from financial burden in case of an unforeseen event or tragedy. Having a good life insurance policy will ensure financial relief for your family even in your absence. A no-exam policy may offer many of the same benefits available through medically underwritten coverage, without the hassle that goes along with the application process.
Depending on your age and the amount of coverage applied for, a non-medical policy may be an option for you. Let us know if you are interested, and we can provide you with more information and a non-medical term life insurance quote.