No Medical Questions Or Exam Life Insurance

People who view it as a hassle to see a doctor and undergo a health exam just to get insurance have the option to get a no medical questions or exam life insurance policy, which many U.S. insurance companies now offer. Buying life insurance is generally viewed as a tedious process primarily because a medical exam is needed to qualify for it - a no medical questions or exam life insurance policy directly addresses this issue, but you need to understand the limitations (note that issuance of any policy is not guaranteed and will be determined by an application process).

What's Different About No Medical Questions or Exam Life Insurance Policies

Some companies refer to it as a 'guaranteed issue policy' or 'simplified life insurance'. Regardless of how a company refers to the no medical questions or exam life insurance policy they offer, they will generally limit benefits to a lower amount than other types of insurance policies in their portfolios, because the issue of your health risk remains an unknown.

Deciding on a Term Life Insurance Policy

If you're not really in the market for a large policy, a term life insurance policy without a health exam may be a good option, but you have to remember that not everyone qualifies for this type of policy. If a lower-benefit package is your desired option and a company grants you a medical questions or exam life insurance policy, you can usually upgrade to a different policy when your old one expires.

Terms are usually set for 5, 10, or 20 years. And while some companies offer only up to $100,000 for no health exam life insurance benefits, some advertise that they offer up to $250,000. Smaller amounts in the $25,000 to $50,000-range are, of course, also available. You will need to consult with an agent to discuss the right policy for you, but we've made it easy to start to start the process, getting multiple quotes from top insurance companies, so you get the best possible deal.

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