No Medical Life Insurance
the Coverage You Need Without the Hassel of a Medical Exam
No Medical Exam Term Life Insurance is the right choice for you
if you simply don't want to go through the hassle of a medical exam
when purchasing a policy. Whether those reasons are for not having
the time or not wanting an invasive physical exam completed.
Non Medical Life Insurance, also referred to as guaranteed issue
life insurance, does not require you to complete a medical exam
when purchasing no exam life insurance. It is important
to note, however, that there are three different types of life insurance
policies that fall into the "no exam" category. With guaranteed
issue life insurance, you do not have to complete a medical exam
and you do not need to provide answers to medical questions. Therefore,
just as the name implies, you are guaranteed to get coverage when
you apply to guaranteed issue life insurance. This is different
from simplified issue life insurance, which does not require a medical
exam but does require you to provide medical information as part
of your application.
No Exam Term Life Insurance
Graded benefit life insurance is the third type of no exam life
insurance available. While graded benefit life insurance does not
require a medical exam and does not require medical information,
the process of purchasing this type of insurance can be quite complicated.
As such, it is generally best reserved for older individuals who
are looking for a life insurance policy and who are suffering from
medical issues that make obtaining life insurance difficult.
While guaranteed issue life insurance is a more convenient option
than more traditional forms of life insurance, it is important to
note that it is generally more expensive to purchase. There are
other cheap life insurance options available
to you that you should be aware of. After all, life insurance companies
are taking more of a risk when they provide you with coverage without
requiring an exam or medical paperwork. Therefore, in order to protect
themselves from the added risk, they need to charge a higher premium
depending on the term of the policy, whether it be 10 years, 20
years, or 30 years.
Since no exam life insurance is usually more costly than traditional
forms of life insurance, it is generally reserved for those who
have a significant fear of doctors or who have a medical condition
that would make it otherwise impossible to purchase life insurance.
For those with a medical condition, purchasing guaranteed issue
life insurance may be the only viable option available. Still, it
is a good idea to shop around and to explore the rates being offered
by companies that specialize in providing life insurance to high-risk
individuals. By comparing all of your options, you will increase
your chances of finding the type of policy you are looking for at
a rate you can afford.