Even though most consumers understand the need for life insurance, many people put it off because they think that a good policy is difficult to obtain. These days, many quality insurance companies make it very easy to complete the application process. In fact, it is very possible to buy life insurance without a medical exam, and you can even apply online or over the phone.
How can you find the best no exam life insurance companies in your state? Begin by entering your ZIP code in the quote box on this site. Review companies, rates, and benefits at your convenience. If you prefer personal service, call us to get your questions answered over the phone by experienced agents.
Term Life with no Exam
Term life is especially popular with younger people and growing families because rates are the cheapest. This means that average folks can afford enough coverage to protect their home loan, spouse, and children. In fact term life that covers a home mortgage is often called mortgage life insurance, and it is a popular product.
Term life with no exam is available from top life companies, and they make the process of applying quick and simple. These are some companies to consider that do not require a medical exam for generous amounts of coverage:
- Fidelity Life: Quick decisions and face values up to $300,000
- Sagicor: Digital underwriting and face values up to $399,999
- National Life Group: Same day approvals, and face values up to $350,000
- American National: Underwriting takes longer, but no medical exam for up to $250,000
Should Some Consumers Get a Life Insurance Physical?
Note that all of these companies impose age limits, typically 60 or 65, upon their no medical exam term policies, so these are some things to consider:
- Good insurance companies may still offer term with a physical to older people who are relatively healthy for their age.
- As people reach middle age, they may be able to qualify for 10 year term and 20 year term policies, but 30-year term may only be offered to younger applicants.
- The application forms still ask health questions, and answers still may get verified against third-party sources of information. These could include the Medical Information Bureau, the state motor vehicle department, or in some cases, the applicant’s doctor.
Companies may not offer to cover people with chronic health conditions. For example, American Memorial offers to cover Type 2 diabetics who control their medical condition, but some companies decline people with diabetes.
Should You Always Get Term Life Insurance With No Medical Exam?
Getting a life insurance physical usually only takes a few minutes, can get scheduled at the applicant’s convenience, and gets paid for by the insurance company. Insurers only offer their very best rates and largest policies to people who prove their health by taking a physical.
That means that an exam could help the healthiest and most fit people save money. It also helps people who need large face values get covered. On the other hand, insurers may offer to cover people with certain health conditions if they take a physical to demonstrate that they manage their medical issues. A good insurance agent should be able to advise you about the best choice for your own situation.
Don’t Overlook Whole Life Insurance with No Exam
People with health conditions that might get them turned down for term insurance may still quality for whole life insurance. Companies offer whole life policies with fairly modest face values that many families and seniors find affordable. Some ask absolutely no medical questions, and some only ask a few medical questions that are only meant to weed out people with very serious illnesses.
Some senior citizens and their families consider a kind of whole life policy that is usually called a burial policy. It gets this name because it is often purchased to help cover funeral expenses, but the proceeds can get used in any way that the beneficiary chooses.
These are some features of typical burial policies:
- Common face values range from $5,000 to $35,000.
- Qualified applicants may range from age 50 to over 80 years old.
Even though the same amount of whole life costs more than term life insurance, the relatively modest face values keep these policies affordable. Consider some sample rates for a 65-year-old man in Texas who is not a smoker:
- $10,000: $52.80
- $20,000: $102.08
Note that these are only sample prices, and your own premiums might depend upon answers to medical questions, location, and insurance company. Typically, prices are higher for smokers, and they also increase by age.
Should You Answer Medical Questions for Burial Insurance Policies?
The right type of application depends upon your health. Relatively active seniors, even with typical medical issues, should qualify by answering the medical questions. Guaranteed acceptance life insurance, with no medical questions, costs more and does not offer an immediate death benefit. This means that the insured person has to survive a waiting period before his beneficiaries can collect the entire face value. Answering medical questions gets lower premiums and an immediate death benefit.
Compare Top Companies Online
Getting life insurance without having to take a life insurance physical is a convenient and fast way to purchase a policy. As you can see, the right choice may depend upon your age, the size of the policy you want, medical conditions, and top companies in your town or city. We offer a convenient way to compare no medical exam life insurance.
Enter your local ZIP code to access local quotes. If you would like to speak with an experienced life insurance agent, you are also welcome to call us. We provide both Internet life insurance comparison tools and live life insurance agents to help our clients find the best benefits at the right rates.