Life insurance policies do not always require a medical check. Discover the options available to you for fast, low-cost coverage that does not require a medical exam.
No exam term life insurance
As you get older, most life insurance companies will charge higher monthly premiums. While there are many reasons, most people experience more health issues after they turn 50. About 75 percent of Americans over 50 use prescription drugs at least once a week.
When it was first introduced, no exam insurance was affordable. A growing number have begun to offer no-exam policies. The cost of what you pay has been greatly reduced by competition.
There are two types if life insurance policies that do not require medical exams. A no-exam, guaranteed or simplified life insurance policy might be the best option for you.
life insurance companies without medical exam
The term is no exam life insurance
You will need to adjust your life insurance requirements as you get older. Your children have probably grown up and now live their lives independently. You don't have to provide financial support for them. You might have also paid off your mortgage or other debt. This is why people over 50 see life insurance differently to what they did in 20s and 30s.
Even though many companies promote these policies in the medias, it is important to be cautious before you jump on any bandwagon. This is especially true for life insurance. There are up to six forms of non-exam life insurance.
When you turn 50, the world changes.
This limited coverage can make it difficult for Americans to afford adequate coverage. Many families would be severely uninsured.
Can I get life insurance without a medical exam? Yes, some insurers offer no medical exam life insurance, usually called guaranteed issue or simplified issue policies.
Guaranteed issue, also called guaranteed acceptance, is a type of whole life insurance that requires no medical exam or health questionnaire. Most insurers only offer guaranteed issue life insurance to older adults, usually aged 50 to 80, although age limitations can vary by carrier.
Term and permanent life insurance options are available for individuals with a chronic illness. Some products, including simplified issue and guaranteed issue, are available without a medical exam. Policy options, premiums and coverage amounts may depend on how well a chronic illness is managed.