We all know that life insurance coverage is something we need to have to protect our loved ones in case there was ever a tragic event.
But buying life insurance can be complicated and a hassle. There are thousands of variables to consider and pushy salesmen that no one trusts.
And worst of all – you’ll have to go through a medical exam just to find out what kind of rate you’ll qualify for. What if there was a simpler way to just simply “buy” low cost insurance and be done with it?
That’s exact what a no exam life insurance policy can offer you. It gives you convenience and peace of mind without needing to have your blood drawn and wallet drained.
But I know what you’re going to say – you’re still not sure if one is right for you. No matter what your excuse is for avoiding buying life insurance, here’s how life insurance without a medical exam can help.
Excuse No. 1 – I Don’t Have Time to Shop for a Policy:
The application process for an instant-approval a term life insurance policy without an exam takes as little as five minutes. You can shop for a plan on your lunch break, or even when you’re waiting for your kids to come out of their karate class. You simply answer some basic health questions online and in about 15 minutes, you’ll have your answer.
You don’t even have to talk to an agent. The process is completely automated, so there will be no up-sells or cross sells or any other kinds of promotions that you have to wade through to get your policy. Once you get your rates, you simply have to accept the policy and it will be completely finalized within 24 hours of starting the process.
Even if you choose a more traditional no exam insurance policy, you still only have to spend a few minutes filling out your application and answering a few health-related questions. You submit your application and within 72 hours, you will receive a telephone call during which you will answer some questions about your medical history. Usually, these are the same questions you already answered on your application.
Your application is sent in and approved within 24 hours of your telephone interview. On occasion, you may have to sign your policy and send it back in, but in most cases, the entire process shouldn’t take longer than 10 days. Your part in the process will only take about 15 minutes.
Even if your days are swallowed up by meetings, carpools and family outings, you should still be able to find a quarter hour somewhere to answer a few questions.
You can get similar coverage with a no physical life insurance policy that you can get with any term policy. The difference is you don’t have to try to schedule a medical exam in between your obligations. You don’t have to wait two months to get covered. You don’t have to spend hours on the telephone with an insurance agent. You get the coverage you need on your schedule.
Excuse No. 2 – My Health is Not the Greatest. I’ll Never Pass a Medical Exam:
You’re in luck! With a no exam life insurance policy, you do not have to pass a medical exam to be approved for coverage. This is actually the main reason why people choose this type of policy over a traditional plan.
However, this does not mean your policy will is guaranteed issue. You still have to answer some health questions to determine your eligibility and your rates. Fortunately, these questions are very general and most people are approved within minutes or days of submitting their application. Here are some sample questions that may appear on your application:
- What is your gender? Women generally live longer than men, so men typically pay more for their insurance policies.
- What is your age? The older you are, the more likely you are to die. It’s just the natural order of things. Insurance companies charge higher rates for older people.
- Do you smoke? Smoking has been linked to premature death, so smokers will pay higher rates than non-smokers.
- What is your height and weight? Obese individuals have a higher risk of early death than people of a normal weight for their height. Thus, they will pay higher premiums.
- Do you participate in high-risk activities such as bungee jumping or skydiving? People who live exciting and dangerous lives are at a higher risk of dying. If you’re a risk-taker, you will likely pay more for life insurance.
- Has any family member suffered from a heart condition, diabetes, a liver or kidney condition, mental illness or a blood disorder? Insurance companies are simply trying to calculate your risk. Again, if you have family members with these conditions, you could pay a higher rate.
- Have you ever experienced shortness of breath? This is a question to gauge your immediate risk of a heart attack.
- Have you been diagnosed with any life-threatening disease? This is the one question that could cause the insurance company to reject your life insurance application. However, you can always apply for a traditional life insurance policy with a medical exam if need be.
Actual questions will vary from carrier to carrier and even from plan to plan. In addition, you can always refuse to answer any of the questions on the application. Be aware, though, that not answering a question or two can lead to higher rates or outright rejection.
If all else fails, you could always opt for something called guaranteed acceptance life insurance where you’ll receive a policy no matter what your condition or medical history.
Excuse #3: I Don’t Have the Money for a Life Insurance Policy:
No exam life insurance policies are actually very affordable. The reason the premiums aren’t too expensive is because companies usually offer lower death benefits for these plans. Granted, if you compare a no medical insurance policy with a traditional term policy with the same exact limit and term, you will pay more for the no exam policy. That being said, you can still get the insurance policy without a medical exam at a relatively good price, especially if you are healthy.
Most plans limit their no medical exam policies to $250,000 in coverage, although some will go as high as 350,000. You should be able to buy a plan for a term of between five and 30 years, which simply means your premium will not go up until the term ends. It is important to note, though, that some insurance companies will not pay the full amount if you die within the first two years following your purchase.
No More Excuses – Get a No Exam Life Insurance Policy Today!
While a no exam life insurance policy might not be for everyone, it could be perfect for you, especially if any of the above excuses sound familiar. Your family deserves the best and if the worst-case scenario comes to pass and you die before your time, they can continue to receive the best. However, that can only happen if you give them the gift of security through a life insurance policy. Stop making excuses and start the application process now. Before you know it, you will have insurance coverage you can rely on and the protection your loved ones will need.
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