No Medical Exam Life Insurance

images6Over the years, different life insurance policy options have been developed – some that have changed the life insurance qualification process. In order to speed up the time in underwriting, as well as to cut underwriting costs, many top rated life insurers have opted to forgo the medical exam on term life policies that have death benefits of up to $250,000. These simple “life insurance without medical exam” policies can provide an easy application process, along with convenience and fast approval.

No exam life insurance is oftentimes referred to as guaranteed acceptance insurance. And, while this type of plan is typically more expensive than other forms of coverage, it may be the only option available for certain applicants. There are many reputable life insurance companies that offer these types of no exam plans.

Such policies provide a full and immediate death benefit, and are still fully underwritten by the issuing insurance company. This means that in many cases, the full amount of death benefit will be paid upon the death of the insured without a waiting period.

Upon death, many individuals want to ensure that their surviving loved ones are taken care of financially. This issue is usually alleviated by purchasing life insurance to cover funeral expenses, as well as other debts of the decedent. Applying for more traditional types of life insurance coverage can oftentimes be time consuming. Typically, the process involves several different steps, including that of a medical exam in order to rule out any adverse health conditions of the applicant.

A no exam life insurance plan, however, can be applied for without an individual being required to provide blood and urine samples – and may often only require the individual to answer just a few basic health related questions in order to qualify for coverage. This makes these policies a viable option for those who have been turned down for other life insurance coverage based on medical or health issues – ultimately providing peace of mind for the insured and his or her loved ones.

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