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It’s True – You can Get Term Insurance without a Medical Exam

If either you or someone you know is wanting or is interested in life insurance without having any medical exam it can mean one of 3 things. You either want insurance fast, you hate medical exams or you have a medical condition that keeps you from applying for the more traditional insurance. No matter what the reason is there is great news for you. You are able to get no medical exam life insurance with no medical exam and still actually save money.

 

Insurance without an Exam is More Expensive

 

While buying insurance needing a physical it is more convenient, it is more expensive. That is because when an insurance company does not know what your health picture really looks like, they are taking on risks and someone needs to cover those risks. So the insurer pays more through higher premiums.

Premiums can triple

 

In some cases, having no exam life insurance will cost you up to triple as much as a traditional policy that requires a medical exam. But there are some procedures you may use to get the insurance you need without paying extra in premiums or the price of a doctors physical.

 

Buy Both

 

There are basically two methods for individuals to get life insurance without a medical exam. The first way is to buy what is known as a “simplified issue policy” and the 2nd way is to buy a “guaranteed issue policy”.

 

With either one of these you will not need to take a health exam and you will not have to give urine or blood examined. All you have to do is answer a few questions about your medical history. If you pass those questions then you will be able to get insurance.

Cancel the One with Higher Premiums

 

Now, if you in good health but just only need to buy insurance as fast as possible the easiest way to do this is to apply for both – “simplified issue policy” as well as a traditional policy. You will get the “simplified issue policy” first and you can then cancel this when the traditional policy arrives which will also be the cheaper policy gets approved. But do not play this game erratically as insurers know when you apply as well as when you cancel insurance.

 

But even if your health is bad, you can still get term insurance without a physical but you will have to pay higher premiums – the point being that no one can be denied life insurance in the U.S. anymore.

BUILDING A BRIDGE TO YOUR FUTURE

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