Is No Exam Life Insurance A Risk?

Is No Exam Life Insurance A Risk? text overlaying image of clipboard with a stethoscope on top of itNo matter what age you are, getting life insurance is a smart way to plan for the future of you and your family. However, getting life insurance can be hard if you’re older or not in good health. If this sounds like you, you’ll want to find an easier way to protect yourself. One option is No-exam life insurance. This type of insurance can help get you covered faster and protect you when other plans won’t. These plans aren’t for everyone though, since they come with less coverage and higher premiums. 

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What Is No Exam Life Insurance?

Insurance companies usually make you get a medical test before they will cover you. This way, they can get a sense of your overall health. And figure out how much of a risk it is to cover you. To get a good idea of how your health is, they will need to know things like your height, weight, and blood pressure. However, there are life insurance plans, called “no-exam” plans, that don’t require a medical check.

 

Most of the time, though, “no exam” does not mean “no health questions.” Most insurance companies that offer these plans will make you fill out a health questionnaire. So they can get a general idea of how healthy you are. Traditional policies can take weeks or even months to go through the underwriting process. No-exam policies, on the other hand, are usually accepted in about a week. And in some cases, in just a few minutes.

Types Of No Exam Life Insurance

In the past few years, no-exam policies have become more common, and insurance companies are giving people more choices. About no-exam rules, there are two things you should keep in mind. First, most of the time, they only cover death from natural causes. However, some can also cover death from an accident. Second, your premiums will be higher than they would be with a regular policy because your insurance company will be taking on more risk by covering you. 

Guaranteed Issue

As far as life insurance goes, guaranteed issue life insurance is the only one that doesn’t need a medical check. You won’t be turned down for one of these policies because of your health. You’ll just need to answer a few questions about your health to get your policy rate, and then you can get coverage in as little as a day. There are up to $25,000 that can be paid out if the policyholder dies. 

 

What’s wrong with guaranteed issue life insurance? There will be more danger for your insurance company because they won’t know as much about your health, so your premiums will be higher than those for other life insurance policies. There is also a two-year waiting period before your family can get the death benefit of the policy. This means that if you die in the first two years that your policy is active, your beneficiary will only get a part of the death benefit. This plan is best for people who want to cover their family quickly and easily. 

Simplified Issue

An increasing number of people are getting this type of term life insurance these days. These policies are a step up from guaranteed issue life policies; they cover you for a set amount of time, usually 10, 20, or 30 years. They cost more than regular life insurance policies but less than guaranteed issue policies, but coverage is often limited. When you apply for simplified issue life insurance, you won’t have to go through a medical test, but you will be asked a lot of medical questions and have a background check. Depending on the results of your test, these plans cover anywhere from $25,000 to $200,000. If you want ease of use, quick approval, and coverage even if you have some health problems, simplified issue life insurance is the best choice. 

Graded Death Benefit

With a few small exceptions, this type of insurance resembles guaranteed issue life insurance. Depending on the insurance company, you may have to answer some health-related questions. These plans are a little cheaper than guaranteed issue life insurance because there may be fewer health-related questions. Up to $50,000 is covered by these plans. One main difference between graded death benefit policies and other types of policies is that the death benefits are paid out in percentages. The beneficiary will get a bigger share of your death benefit every year that the policy is active.

Final Expense

This type of policy is also called “burial insurance,” and its purpose is to pay for the costs of the funeral, burial, and any small loans that may come up after the death. This policy is something you should think about getting even if you don’t have any other kind of life insurance. It costs about $10,000 to have a service, which is a lot of money for your family to pay, especially if they are not ready. 

 

There are plans that cover final expenses that range from as little as $2,000 to $50,000. These plans are great because your premiums won’t go up and your death benefit will stay the same as long as you hold them. If you have some health problems and only need a small amount of coverage to help with the costs of your death, this insurance is a good choice. 

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Pros and Cons

A lot of people might like it if they could speed up the screening process when they apply for life insurance. There is less time to wait, and no exam life insurance may be a good choice if you:

 

  • Worry about certain medical tests in particular
  • Would rather not be checked out by a doctor or medical worker
  • Need to get insurance quickly and don’t have time to go through the whole screening process
  • You rather apply for coverage from home, over the phone, or by mail (Many insurers will let you apply for coverage without having to make a meeting with an agent.)
  • You want your life insurance to cover you in days instead of weeks like other types of insurance do

To put it simply, the cost is bad. The premiums for life insurance that doesn’t require an exam are often much higher than those for fully underwritten plans. So, getting life insurance with full screening may take more time and be more complicated, but it usually costs a lot less than getting insurance with no medical exam.

 

Why? Even though you might not want to answer a lot of health questions, talk about health problems in your family, or go through a medical test. The longer underwriting process gives the life insurance company more information they can use to decide if they want to give you a policy. To put it another way, they can see how much of a risk it is for them to insure you. 

Who Should Get No Exam Life Insurance?

This kind of insurance is best for people who have a health problem that might keep them from getting a policy. It’s likely that the no-exam choice will not cover as much as a policy that requires an exam. But it’s better than having no coverage at all. Some people also like no-exam insurance because they don’t think a medical exam is worth the trouble it causes them and would rather pay the higher rates. The tests usually only last a few minutes, and the doctor can even come to your home. However, you might have to fast on the day of the exam and not be able to do your regular morning routine.

Need Help?

At the end of the day, not everyone should get a no-exam life insurance policy. However, this kind of policy will get you covered quickly and won’t be too much of a bother to you. No matter your age or medical background, you can get the coverage you need with a no-exam policy. Talk to your insurance company about what you might be able to get, and think about the pros and cons to help you decide what’s best for you. At EZ.Insure, we understand that you and your family want the finest protection possible, but we also understand that you must keep within your budget. We will do everything we can to assist you in making your decision to get you the finest coverage at the greatest price.

 

We will help you with everything, from answering all of your concerns to assisting you in selecting an insurance. As well as completing the registration procedure. The best part is that everything we do is completely free. Our team has put together a list of the best life insurance companies. You don’t have to get a medical test, but you should still look at more than one insurance site to find the best one for you. Anyone who wants to talk to a real person or has a question can call 877-670-3560 and talk to one of our agents. Or simply enter your zip code into the bar below for free instant quotes.

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What to Expect from Your Life Insurance Medical Exam

Depending on the type of life insurance you apply for, you might have to undergo a medical exam. For example, permanent life insurance policies and term life insurance policies typically require medical exams. If you do have to undergo a medical exam, the results will determine if you qualify for a policy, and how much you will pay for your monthly premium. So, what does the medical exam include and what results are insurers looking for exactly? blue stethoscope on a white table with article title over it

Paramedical Exams 

A life insurance medical exam, also known as a paramedical exam, is part of the underwriting process. The underwriting process is how life insurance companies determine how much of a risk you are to insure. They use an exam as part of this process because the healthier you are, the less of a risk you are to insure, and so the less you will pay in monthly premiums. But if the results of your exam are concerning, you will have higher monthly premiums, or may be denied altogether.

What Does the Medical Exam Include?the wall of a doctor's exam room with medical equipment hung up on the wall

The medical exam will typically include:

  • A survey about your health, medical history, and lifestyle
  • A check of your pulse and blood pressure
  • A blood test
  • A measure of your body mass index (BMI)
  • A urine sample
  • An EKG (in some cases)

These exams do not have to be an inconvenience. Many life insurance companies will offer to send a medical examiner to your home. And they can generally conduct the exam in 30 minutes or less.

What Your Insurance Company Is Looking For

While each insurance company looks at different health conditions differently, there are some constants in what insurers are going to look at. Typically, they will be looking at the health of your heart and arteries, kidney, bladder, liver, and pancreas. The exam will also show if you have HIV or drugs in your system, which can negatively affect your chances of qualifying for a policy.

No-Medical Exam Life Insurance

woman with brown hair and light blue shirt standing in front of a white wall with a hand with index finger raised
With these plans, you will not have to undergo a medical exam!

If you are worried that you won’t pass a medical exam, or that you will end up paying a lot for life insurance, guaranteed issue, simplified issue, or instant-approval term life insurance policies are great options. With these plans, you will not have to undergo a medical exam, and will not have to provide blood work or any other tests. Insurers cannot disqualify you for these policies for any health-related reasons. 

In addition, with a no-medical exam life insurance policy, you will also get instant approval. On the other hand, when you sign up for a life insurance policy that requires a medical exam, you will have to wait between 4-6 weeks after applying to find out if you qualify.

Need Help?

Don’t be put off by the thought of a medical exam! They’re generally fast, convenient, and nothing to worry about. And remember, if you pass away without life insurance, your loved ones may be left to deal with a large financial burden. They would have to pay for your funeral expenses, which are on average $10,000. As well as other bills they have relied on you to help with, such as a mortgage or college tuition. However if you are unsure whether you would pass a medical exam, a no medical exam life insurance policy can help you get the coverage you need to protect your loved ones. 

The best way to find the right life insurance policy for you is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check no medical exam life insurance rates today.

6 Things That Might Surprise You About Life Insurance

Life insurance is incredibly important: having a policy will provide your family with a financial safety net when you are no longer around. And you know what? Life insurance is one of the easiest types of insurance to buy: not only is it inexpensive, but there are so many different types of plans to choose from. Didn’t know that it was cheap and that you had so many options? Well, there are quite a few things that might surprise you about life insurance. 

1. Over Half of Americans Have Life Insurance, Most Through Their Employersgroup of people in blue and one standingout in red

More than half of adults in the country have some type of life insurance policy, and the majority of this number is based on people who have it through their employer. But did you know that you can purchase a private life insurance policy in addition to your employer’s life insurance policy? You’ll probably find that employer-based life insurance is simply not enough for your family and their needs; not only that, but you will no longer have the policy once you leave your job. 

2. Women Are Less Likely To Have Life Insurance

Sad, but true. According to the Insurance Information Institute, around 43% of women have no life insurance, and those who are insured have only a quarter of the coverage they need. It is just as important, if not more so, for women to have their own life insurance policy, whether they are single parents, working mothers, or stay-at-home moms. They contribute just as much, if not more, to the household and need to make sure their family is protected. 

3. The Price of a Funeral Is One of the Most Common Reasons People Buy Life Insurance

casket in a car
Funeral costs are not cheap, which is why many people get life insurance.

For many people, when they think of life insurance, they think of the high price of funerals. A recent LIMRA study revealed an overwhelming 91% of people turn to life insurance as a way to cover final expenses. This makes sense since a funeral can cost on average  $10,000-$15,000 – fortunately, though, many life insurance policies will cover these costs and then some. If you are looking for a life insurance policy mainly for funeral costs, consider a final expense life insurance policy, but if you need more coverage, there are other policies out there that provide more coverage. 

4. Your Current Policy Might Not be Enough

If you have a life insurance policy, when was the last time you took a look at it? Updated it? What if your living expenses have gone up, and your family will need more money to live on? This is something that needs to be taken into consideration, which is why you should review your life insurance policy annually. While doing so, make sure you calculate your expenses and needs and decide if your current plan will meet those needs, or if you might need a policy with more coverage.

5. You Can Opt Out of Undergoing a Medical Exam

If you’re worried about high premiums or being denied coverage because of health conditions,  have no fear! Many types of life insurance policies don’t require you to take a medical exam or answer medical questions. These policies will typically offer less coverage than traditional life insurance policies, but you will be approved no matter what. 

6. You Can Find The Perfect Policy for You

white puzzle with missing piece next to it
There are so many great life insurance plans that can fit into your budget and needs.

There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Life Insurance Rates and New Blood Pressure Guidelines

Having high blood pressure, or hypertension, is so common these days that you probably know at least one person who has it. It’s such a common medical condition that it affects around half of all adults in the United States. One of the reasons that hypertension seems so common now is that the American Heart Association and the American College of Cardiology, two organizations that set blood pressure guidelines for the medical community, recently changed the standard of what is considered hypertensive. The previous standard was 140/90 mmHg, but the new guidelines have set the bar for hypertension at 130/80 mmHg. Now, with so many more people being diagnosed with high blood pressure, will life insurance companies change the way they set their rates for people who are considered hypertensive? 

Life Insurance Guidelines for Blood Pressurehand with a blood pressure cuff on

Each life insurance company has its own set of guidelines when it comes to assessing the health conditions of its applicants, including high blood pressure. Many insurers will allow for higher blood pressure readings for individuals who are 60 and over, while others are not as forgiving. 

And while insurers don’t often change their guidelines for how they assess medical conditions, many insurers are now implementing new guidelines for hypertensive applicants, since the guidelines for diagnosis have changed. In some cases, that means that people with hypertension could still qualify for Preferred Plus and Preferred plans. So if you have been diagnosed with hypertension, and are worried about how your diagnosis will affect your life insurance rates, have no fear. Most life insurance providers will allow their top-rating class members to remain in that class while taking medication for high blood pressure.

Ways To Lower Your Blood Pressure 

cigarettes with a red prohibited sign over them
One way to help lower your blood pressure is to quit smoking if you are a smoker.

If you are still worried, there are some lifestyle changes that you can make to lower your blood pressure naturally, including:

  • Eating a well-balanced, low sodium (salt) diet
  • Limiting alcohol consumption
  • Enjoying regular physical activity
  • Managing and reducing stress
  • Maintaining a healthy weight
  • Quitting smoking

Looking For A Plan?

It is possible to find a great traditional term life insurance or permanent life insurance policy even if you have been diagnosed with high blood pressure. And if you are worried that you will not be able to find one of these policies, you can attempt to lower your blood pressure before applying, or you can opt for a guaranteed issue, simplified issue, or instant-approval term life insurance policy. With these plans, you will not have to undergo a medical exam, and will not be required to provide blood work or any other tests. You cannot be turned down for these policies for any health-related reasons.

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

How Long Does It Take To Get Approved For Life Insurance?

Purchasing a life insurance policy is a process. You’ll need to research and compare policies to find the right one for your needs, and once you narrow down your choices, you’ll need to consider how long it will take you to get approved for the policy. Depending on which type of life insurance policy you get, you can get approved in anywhere from a couple of days to a few weeks, or even months!

The Underwriting Processquestionnaire on a clipboard with pens next to it

After you choose an insurance company to work with, you will have to fill out an application to be approved for your policy (unless you have chosen a life insurance policy that guarantees approval). Expect to answer questions about your lifestyle, where you work, and the activities you regularly engage in. Once your application is complete, the insurance company will review it and decide if they will move forward with the application. Next, you will have an interview during which a representative will ask you some medical questions, then schedule a medical exam if all goes well with the questionnaire. After you’ve gone through the exam, it can take up to 4 weeks for the underwriter to get the results; once that happens, the insurance company will begin the final review process.

Varying Approval Times

Depending on the type of insurance policy you’re applying for, you can expect to get approval in anywhere from a couple of days to a couple of months. If you want to get covered quickly, a no medical exam life insurance policy is a good option, but these policies are usually limited to $1,000,000 or less in coverage. If you want a policy with more coverage, choosing a life insurance policy with a medical exam is the way to go, but you will need to wait longer for your policy to go into effect. Here is a break down of the different policies, and what you can expect as far as approval times go:

  • Guaranteed Issue– You can get approved for one of these policies regardless of your health status, so they are perfect for people with health conditions. You will not be required to undergo a medical exam for a guaranteed issue life insurance policy, which means it can take as little as a few minutes to a few weeks to get approved.
  • Simplified Issue– This is another type of no medical exam life insurance policy, but you will have to answer some medical questions. The approval process usually takes less than a week. 
  • Term & Whole Life Insurance– These two types of policies have a more detailed underwriting process that considers your health history, as well as requires a medical exam and other background checks, so approval takes longer than for no medical exam policies. The approval process can take a week, 2-4 weeks, or sometimes as long as 6-8 weeks. If you have specific health conditions, the underwriters might have to go back and forth with your doctor until they receive all your information and assess your risk.

What Can Slow Down The Process?

stacks of hundred dollar bills
The larger amount of coverage you want, the longer it might take to get approved.

There are some factors that can slow down the underwriting process, which in turn will slow down approval times. These factors are:

  • The company you choose
  • Additional health conditions
  • Coverage amount– The more coverage you apply for, the longer it can take to get approved.
  • Your age– The older you are, the more health issues you could potentially have, and the more of a risk you are to insure, so the underwriter might take extra time to review your health records. 

Deciding on which kind of life insurance policy you should purchase depends on how much coverage you are looking for and how quickly you would like your policy to go into effect, as well as other factors. Not sure where to begin? Consider using online tools, or speaking with an agent. Looking for a quick and easy policy? Some insurance companies will take longer than others to approve your application, but we have provided below top insurance companies, who will all make the process go smoothly and quickly; each can give you hassle-free assistance and the most competitive rates in the nation. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

What Is Simplified Issue Life Insurance?

As we age, we can all develop health problems, which can make finding affordable life insurance an issue. If you have pre-existing conditions, life insurance companies could either deny you coverage or raise the price of your premiums. The greater the risk it is to cover you, the higher the price for whole life insurance or traditional term life insurance policies. But there is still hope even if you do have pre-existing conditions! There is a way to be approved for life insurance with minimal health questions and without medical exams: look into a simplified issue life insurance policy.

What Is Simplified Issue Life Insurance?

clipboard with a questionnaire on it and pens next to it
You will need to answer a couple of questions about your health, and will get immediate coverage after applying.

Simplified issue life insurance is a type of whole life insurance, meaning your policy will remain in effect for your entire life. Unlike most whole life insurance policies, simplified issue life insurance is meant for people who need or want life insurance right away and do not want to go through a medical exam. To obtain one of these policies, you simply need to answer a few questions about your health, and will get coverage almost immediately after you apply. 

So what’s the catch? Well, with simplified issue life insurance, you can expect higher premiums for less coverage. You will pay more because your insurance company will not get a full view of your health status and will be unable to fully determine how much of a risk you are. With these policies, you will get a death benefit payout anywhere from $5,000 to more than $100,000. However, it is important to note that some health conditions can actually prevent you from getting coverage. 

How It Works

In order to get a simplified issue policy, you will have to fill out a short health questionnaire so that your insurance company can complete a modified risk assessment and set a premium and death benefit. Unlike traditional whole life insurance, most simplified issue life insurance policies do not have a cash value that builds over time. To qualify, you must be between 45 and 85 years old. You could be denied coverage if you:

  • Are bed-ridden, or in a long-term care facility or nursing home
  • Require a wheelchair or oxygen equipment
  • Have been diagnosed with Alzheimer’s, dementia, or congestive heart failure
  • Are being treated for an organ or bone marrow transplant
  • Have been diagnosed with any form of cancer in the past 2 years
  • Have a terminal condition
  • Have been diagnosed with heart disease in the past year (12 months)
  • Have had heart surgery in the past year (12 months)

If you are denied coverage because of any of the above mentioned issues, you still have options. For example, you can look into a guaranteed issue whole life insurance policy. The best way to find the coverage that is right for you is to compare plans from multiple insurance companies. 

blood pressure cuff on the wall in doctor's office
One of the perks is that you will not need a medical exam when applying for a simplified issue life insurance plan.

Advantages of Simplified Issue Life Insurance

  • No medical exam or lab tests are required.
  • Once your application is filled out, you will get an instant decision. If approved, you will not have to wait weeks or months for coverage to begin, as with other life insurance policies. Instead, your coverage will begin as soon as you pay your first premium. 
  • These policies are cheaper than guaranteed issue whole life insurance, and offer higher death benefits than guaranteed issue policies. 

Is It Right For You?

Simplified issue life insurance might be a good fit for you if:

  • You have a pre-existing medical condition (that isn’t disqualifying).
  • You do not want to undergo a medical exam, which could delay coverage and raise the price of your premiums. 
  • You want life insurance but aren’t sure you will qualify for traditional life insurance policies.
  • Your term life insurance policy has expired.
  • You don’t want your family to worry about final expenses or debts when you are gone.

Pre-existing conditions are extremely common; in fact, according to Health and Human Services, 61 to 133 million Americans have some kind of pre-existing condition. Having one of these conditions does not necessarily mean you are disqualified from getting life insurance, which is a necessary financial asset for your family. There are many different life insurance plans to choose from, and even with health conditions, you can find an affordable plan with great coverage. Consider using online tools, or speaking with an agent. We have provided the top insurance companies that offer simplified issue life insurance policies below; each can give you hassle-free assistance and the most competitive rates in the nation. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check simplified issue life insurance rates today.