No Medical – Term Life Insurance
[Editor’s Note: This blog was originally published on June 23, 2014. The content has been updated.]
Here’s a simple way to get term life insurance that’s quick and easy…and without taking a medical exam.
At AccuQuote, we work hard to make the term life insurance buying process as quick and easy as possible for our customers. That being said, if you’re not crazy about taking a medical exam to qualify for coverage, we have a new product for you to consider: No Medical – Term Life Insurance.
Believe it or not, one of the main reasons why some people are hesitant about purchasing life insurance is because of the required medical exam. Most carriers do require one before they extend you an offer of coverage. Truth be told, policy applicants who take the medical exam typically will get a better rate on their life insurance. Why? Because insurance premiums are based on 4 major factors: gender, age, potentially dangerous or hazardous activities (skydiving, scuba diving, etc.), and your health. That last one, is tricky. The only way for the insurance company to truly know how healthy you are…is with a medical exam. Without an actual exam, insurers will be forced to use less reliable personal criteria to calculate life expectancy. Typically, insurers will then charge higher premiums to offset the additional risk.
That being said, if you’re not into taking a medical exam, that doesn’t mean you can’t get coverage. A No Medical Exam Insurance policy can provide your family the financial protection they’ll need if someone should happen to you.
You can get No Medical Exam Term Life Insurance, with a low, fixed premium, in term lengths of 10, 15, 20, or 30 years. And as with traditional underwritten policies, a phone interview will be required. Depending on your answers, your prior medical records might be requested for review.
Remember, Term Life Insurance is only temporary insurance. After the policy term has expired, you will no longer have affordable insurance. Most insurance companies will allow you to continue your coverage, but your rates will be considerably higher…as much as 10 to 20 times higher. At this time, it would be best to look for a new policy. (Note: There are permanent No Medical Exam Insurance policies available that offer permanent coverage. Talk to an insurance professional for more information.)
To find out if you qualify for a No Medical Exam Life Insurance policy (Term Life or Permanent Life), talk to AccuQuote. We only represent the top-rated, brand-name No Medical Exam Life Insurance companies you know and trust.
For more information on this topic, watch the following video: