Life Insurance Without a Medical Exam

Written by Strahan Financial Services

Purchasing Life Insurance Without a Medical Exam

Purchasing life insurance without a medical exam is a simple, secure, and less evasive way to ensure you and your family.  Many choose to buy life insurance without a medical exam for several reasons. Interestingly, non-medical life insurance policies make up a significant total of life insurance policies sold. For some companies, these policies make up most, if not all, their business. Depending on your age you can qualify for up to $1,000,000 if you are in good health, at the same price as a fully underwritten policy with a medical exam.

If your health is a factor, you could qualify for up to $500,000 without taking a medical exam on an accept or reject company decision from a highly rated company that is over 110 years old. Many companies are using an accelerated underwriting process to make purchasing life insurance easier and quicker. This process produces a premium equal to a fully underwritten policy without the need for blood work. Choosing the right company is essential since not all companies use this process and qualifying for accelerated underwriting can change between companies.

There are many reasons to consider term life insurance without a medical exam

  • You need immediate coverage
  • You dislike needles.
  • You have a busy schedule with limited time.
  • You want to save time.

Tips on how to choose the right company

Paying an annual payment is less expensive than paying monthly rates.  You can save 4-5% by paying annually.

Term life insurance rates are the same, no matter where you go to check them.  All insurance agents use the same published rates by insurance companies. You do not need to shop around from one website to the next. However, accuracy depends on updated information on rate changes.

Choose only AM Best rated “A” carriers or higher. These ratings indicate the financial strength and many important factors of the insurance company.

Instead of filling out a 24-page insurance application, choose a carrier that uses “e-signature.” View the application online, approve, and simply type your name on the documents.  Using the “e-signature” method can save up to three weeks in policy activation. Once issued, you can print your policy yourself.

Use an experienced, knowledgeable, independent life insurance broker that specializes in life insurance.

Something to remember:  You always take a risk when choosing a life insurance physical. Especially if you have not had a checkup from a physician for years, the results from the physical and lab work might indicate a condition that would qualify you for a higher rate or a decline. Abnormal readings can occur for kidney and liver functions, high blood pressure, and other factors, you get the picture!

Is Life Insurance Without a Medical Exam the Right Choice for You?

If you are mainly concerned with the cost of your insurance, qualifying for a better insurance premium is typically achieved with a medical examination. If you choose to avoid taking a medical exam, some insurance companies charge more for the risk they are assuming. They have less information on you to make their final decision if you end up needing to take a life insurance exam and find out How to Prepare for a Life Insurance Exam.

Special No Exam Mortgage Life Insurance

Mortgage protection policies protect your mortgage and your family in the event of disability or death. Your mortgage protection should specifically cover natural death, not only accidental death!

Special Living Non-Medical Living Benefits Life Insurance

There are life insurance companies that offer coverage that does more than just pay a benefit upon death with the same policy. This insurance combines a death benefit and protection against a critical, chronic, and terminal illness called “living benefits. Learn more

Do Reputable Insurance Companies Offer Non-Medical Insurance?

No matter how much life insurance you are applying for, you always want to use the highest-rated life insurance companies.  Most of these are very well-known companies and have been around for many years. They have an excellent reputation for paying claims quickly and have maintained a high rating for superior customer service and paying claims promptly. They have a history of superior customer service and have “name recognition.”

We never recommend using a company with less than an A- rating. The higher the rating, the better. Ten years ago, there were only a few companies that offered non-medical life insurance. Today, with the improvement of technology and the availability of information needed to issue a policy, the situation has changed.  More companies are offering non-med insurance, and the amounts you can purchase have been increasing.

How Much life insurance without a Medical Exam Can I Purchase?

Some highly rated and well-known insurance companies are offering up to $500,000 to $1,000,000 insurance coverage for ages up to 50. Other insurance companies have raised the age to 60. Having an excellent health record is vital.

How Quick is the Policy Issued?

How quickly coverage can be issued depends upon the age of the insured, health, and the amount of life insurance coverage requested. Smaller death benefits up to $500,000 can be issued quickly. Your medical history can also be a significant factor. Also, a company’s underwriting requirements have a lot to do with how fast the policy is issued.

Some companies can have the policy issued in minutes. With other companies, it might be one day to three days.  Still, other companies might take one to three weeks.  Ordering medical records from your physician will make the application process take longer. Medical records may be needed to clarify your medical history. The time it takes to issue the policy is determined by the length of time it takes your medical facility to return your medical records to the insurance company for review.

What Will Companies Check to Qualify Your Coverage?

  1. The MIB
  2. RX Database
  3. MVR
  4. Your Medical Records if necessary
  5. A possible telephone interview with you

The MIB (Medical Information Bureau) records all health information from previous life insurance applications. They serve hundreds of life insurance companies that have been around since 1902.  Their goal is to enable insurance companies to offer the best rates for their clients.  The MIB database has stored information on all previous insurance applications. Information on all prior insurance applications is in the MIB database.

Underwriters can quickly find misrepresentations, errors, and omissions in insurance applications. If there are any errors or omissions on the life insurance application, the MIB informs the insurance company.  The MIB allows the insurance company to give quotes based on the risk the applicant poses and keep insurance premiums low.

The RX Database give all medications you have prescriptions for and taken over the last number of years.

The MVR has an electronic record of your driving record history.  If you have a good driving record, this ensures lower premiums.  A poor driving record can be a good indication of a shorter life expectancy to an insurance company resulting in a higher premium.  A DUI/DWI and speeding tickets will increase your life insurance policy premium.

The Medical Records Review This record clarifies information on your application related to your health history. Insurance companies want an accurate record of your health to determine how much risk you carry for them to insure.

Truthfulness is critical, even if there is no medical exam.  Electronic technology allows underwriters to verify the accuracy of your medical information. Remember, if the insurance company finds misrepresentation or fraud in the future, your insurance will not continue in force. In the worst-case, your beneficiary can have your insurance claim declined!  Having your life insurance canceled is not a situation you want to put them in.

Should Applying for Life Insurance Without A Medical Exam Be Your First Choice?

You may want to apply for non-medical life insurance first. After the policy is approved, you can always go through the full underwriting process to see if you qualify for a cheaper rate with another company.  If you do not qualify for a more reasonable price, you can keep the easy issue non-medical policy. Some clients have gone through the full underwriting process first, hoping for a preferred rate and been declined or given a high premium due to an undiagnosed health issue. It does not happen often, but it does happen something to consider if you do not have regular checkups with your doctor.

When it comes down to it, how many people know what the lab results indicate. Our health is constantly changing. And, once the results are determined, they are on record, and it is too late to change the findings.

The new results are recorded in the MIB and can be used by any insurance company when you apply in the future for insurance. They are available for review by all companies if you now decide to apply for a non-medical life insurance policy.  A policy that might have cost a little more initially, unfortunately; at this point, it is too late to go back in time.

With your new exam results are on record and also on file is the fact that you were rated or declined. Now you may not qualify for a non-medical policy without paying a higher insurance premium for a lot less insurance coverage. You might not be able to purchase the amount of insurance that your family needs. In the worst case, you might be only to buy a final expense policy.

Five Types of No Exam Life Insurance

1. Regular non-medical no exam term

These policies offer coverage for ages up to 60 a death benefit of $500,000 and for ages up to 65 a $350,000 death benefit for those who qualify medically. It is possible if you are in good health and younger to be eligible for $1,000,000.

2. Simplified issue term

This policy is the same as a fully underwritten policy with an exam, except you do not take a medical exam.  The policy has limited death benefits, usually up to $500,000. Simplified issue term speeds up the approval process since it has a streamlined underwriting and is limited to specific health classes.

3. Final Expense Whole Life

Full benefit immediate coverage for death benefits up to $25,000 or more. Learn more

There are two policies companies use for those with high-risk conditions.  These two policies are for those who have been declined coverage for non-medical or traditional term policies. They are:

4. Graded death benefit whole life

This policy has few health questions and has a death benefit phased in over the first two to three years of the policy.

5. Guaranteed Issue whole life

This policy is for those who are uninsurable and in poor health. This policy has a limited death benefit. The premiums on a guaranteed issue whole life policy are higher than other types of whole life insurance. With this type of policy, the insurance company wants you to live for the first two years before the death benefit is in effect. This policy waiting period is so someone who is going to die next week cannot sign up and take advantage of the policy. Get a quote.

Fraud would cause all the premiums for everyone to rise, so if the insured dies during the first two years, the beneficiary receives all the premiums paid into the policy plus interestIt is an excellent option for people who find themselves in this situation at the end of life with no final expense benefits.

Quick No Exam Reference Guide

It’s important to understand that there’s two types of No Medical Life Insurance (1) No Exam and (2) Simplified Issue



Why Use Strahan Financial Services 

It is essential to use an experienced independent agent. As independent agents, we have extensive knowledge of the insurance industry and how to qualify you for the best possible life insurance rates with no medical exam.  Many of the websites offering life insurance are call centers with cubicles of agents using a script to sell you life insurance. Some of the websites sell your information to 10 or more agents, which results in you receiving many calls over many days. We are not a call center.

We work with a team of highly talented individuals committed to providing you with unmatched professional service with over 250 years of combined experience.

  • We are professional
  • We are knowledgeable
  • We use the latest advanced technology
  • We are customer-service driven
  • We work to earn your business
  • We want to deliver beyond your expectations
  • We want a genuine “Thank you!” at the end of the process.

about Strahan Financial Services









About Strahan Financial Services
About Strahan Financial Services

We work with individuals across the nation to secure the best life insurance rates.

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