UPDATED: Mar 19, 2020
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Life insurance is the best way to guarantee your family’s future if you are not there with them. The problem is, most types of life insurance require a medical exam before the policy is issued, and that could mean weeks added to the application process. With no medical exam life insurance, the delay is avoided, and people who might otherwise be denied coverage are still eligible. If time and eligibility are things you have concerns about, getting life insurance without a physical exam is an available option when there may not be many.
No medical exam life insurance bypasses the much of the application process, allowing the policy to become effective faster and guaranteeing coverage, even if you pose a greater risk to the insurance company. To make up for the increased risk, insurance companies charge higher premiums than they do for other types of insurance. This means that you can provide for final expenses to relieve the burden on your grieving family, or make sure that your widow and children are taken care of after you die.
Like other types of insurance, it is a good idea to shop online before you buy. Get free online life insurance quotes that compare similar policies between multiple companies, and then check the insurance company reviews to find out how the companies with the best rates compare from a standpoint of financial stability, cost and quality. The best rates do not always
mean the best insurance, and comparing policies and reviews is the only way to spot the differences.
Depending on the types of life insurance you buy, even without an exam, you may still have to provide some information about your medical condition. This is usually done verbally over the phone, when required, but remember to answer questions honestly or the claim could later be denied. Other types of no medical exam life insurance, such as guaranteed acceptance life insurance, require no sort of medical information, although the amount of benefits may be more limited.