Life Insurance Policies That Require No Medical Exam

Life Insurance Policies That Require No Medical Exam

Long gone are the days when you have to get a full physical in order to be approved for a life insurance policy. Many companies are now offering an application process that does not require a medical exam. This is great news for those of us who do not want to go through the hassle of a physical, whether it’s due to time constraints or fear of needles. It’s also great news for people who are in good health and do not want to wait several weeks for their life insurance policy to complete the underwriting process.

What Are the Benefits of This Type of Policy?
• No Medical Exam (so there’s no blood drawn and no urinalysis)
• Issued Quicker than Traditional Life Insurance (sometimes instantly, if you qualify)
• Can Be Done In the Privacy of Your Home

Are There Any Limitations?

The answer to that is yes. Most companies have a maximum amount of $500,000 so you won’t be able to get as much coverage as you would with a traditional policy, but if your need is $500,000 or less then this will be OK for you. You also need to be in general good health so if you have any serious pre-existing health conditions, it is best to go the route of a traditional life insurance policy with a physical exam. Some medications for blood pressure and cholesterol are ok, though you won’t get the highest health rating.

You should be completely honest about all of your health history because a life insurance company will check your medical background and, in some cases, your driving history through various databases. If you’ve had a DUI or recent speeding tickets, then you will not be approved for a life insurance policy without a medical exam.

How Do I Apply?

The application from for life insurance policies that require no medical exam are usually just a few steps:

1. You fill out an application online and answer some basic Yes or No health questions.
2. You review the rate for your particular situation (age, height, weight, health history, etc.).
3. You submit your application and your policy can be approved in just a few short minutes.
4. Print out your policy and you’re finished.

If you are in general good health, and you do not want to wait several weeks for a typical life insurance approval, then this type of policy may be right for you. You can apply right online and no agent will contact you.