What is No-Medical Exam Term Life Insurance?
Traditional term life insurance policies will require you to have a medical exam to make sure you are in good health. Non medical life insurance on the other hand is just as it sounds in that the policies are issued without the requirements of blood and urine samples and EKG reports being provided by you to the carrier for underwriting determination.
Types Of No- Medical Exam Life Insurance
Term Life Non Medical Life Insurance - Term Life covers both accidental death and death from natural causes. The death benefit is the same for either type of mortality risk. Non medical term life insurance is approved quickly by carriers up to certain limits since the carrier will likely not need reinsurance to cover the claim. Face amount limits can go up $500,000 without any physical exam requirement. Some carriers may limit face amounts at $250,000 or $350,000. The benefit to the consumer is a relatively easy process if you only need a small amount of coverage such as to cover a mortgage payoff for your family.
A potential insured who is unsure of there exact cholesterol levels or blood pressure or other hidden health issue might opt for the non medical type of life insurance since a fully underwritten product could potentially result in a rating of standard or worse if your health were to be rated by the carrier. Non Medical Policy underwriting guidelines take a more liberal approach to weight issues and minor health issues that are well managed. Additionally you can qualify and purchase a non medical life insurance policy rather quickly either online or with an agent by telephone and then later apply for the fully underwritten version as a replacement policy . That way you have security of a plan in place right away.
Graded Death Benefit Term - This is a popular type of non medical insurance that is a sensible option for consumers who have developed health issues that may or already has resulted in a decline from a life insurance carrier. The insurer grades the face amount for the first two years, typically 40% in the first year and 70% in the second year and 100% of face amount if you die after year two.
Level and Graded Whole Life- Also popular Non Medical policy used as an alternative to term and graded term , this can provide a death benefit in amount from $10,000 - $250,000 depending upon the clients age (approval can go up to 80 years of age) , the policy has level premiums and a death benefit that runs to age 121 and covers both accidental and death from natural causes. This is also referred to as Final Expense since carriers allow polices with face amounts as low as $10,000.
Why Would I consider No- Medical Exam Life Insurance?
You do not have to be a pessimist to know bad things happen to good people. Your life can change in the blink of an eye, so if you have a spouse, were recently married, are a homeowner or have a child on the way or dependents then you need insurance protection for your loved ones. If you have no reserves set aside to provide a proper burial for a spouse or sibling this is a inexpensive solution.
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Non medical Insurance makes something that can be off-putting simple. Most people typically put buying coverage off because they have busy life-styles and do not want to make the time to meet with an agent for the application, get a para-medical exam then wait for coverage for 30-60 days.
Benefits of No- Medical Exam Life Insurance
- No Medical Exams on coverage from $10,000 to $500,000
- Apply Online without an agent
- Answer a few simple health questions*
- See rates in real time
- No Agent appointments or lengthy applications
- Flexible Payment Options
- Review Period 10- 30 day free look with money back guarantee
- Guaranteed rates for term period selected
- Protection policy issued instantly
*For higher coverage amounts visit term life quote link
* You must qualify Not Available in all states
Don't Leave your loved ones without the financial support they need without you, It only takes a few minutes to secure protection! You can Quote-Apply and Pay on a secure carrier website your first months premium right here for instant protection.
* Always be truthful on health questions this information is verifiable through the medical information bureaus (MIB )reports
