If you want to make yourself a life insurance without medical exam or health questions, you’ve come to the right place. There is a growing number of people who are looking for the same option, for a variety of reasons. While you may be slightly embarrassed to put such an approach forward to your insurance agent, because it makes you feel like you’ve got something to hide, don’t worry, you’re not the only client thinking about it. Here is a brief overview on how to get this type of life insurance without an exam, as well as extra tips on the types of insurance and clauses you should look into.Why Is Life Insurance without Medical Exam or Health Questions Needed?
As mentioned above, people may feel better about this option for a whole variety of reasons, such as:
- They’re squeamish about doctors (see the so-called ‘white coat’ syndrome), needles (needed for drawing blood in the case of traditional medical exams) and so on;
- They are in a big hurry (for example, if they need the insurance in order to be able to sign a collateral loan);
- Very busy people who simply can’t take the time off needed for an exam;
- People who only need a small amount of life insurance for objective reasons, and would like to avoid the hassle of a full-on exam;
- Those who find it difficult to get any other form of insurance because of their past medical history.
As you can see, there are plenty of reasons for which people look for this type of life insurance without a medical exam (since the health questions often amount to a full-scale exam). The good news is that you can obtain this kind of insurance if you know how to look for it and negotiate it. This is all you need to know, right below.
How to Get Life Insurance without Medical Exam or Health Questions
First of all, pay attention to one crucial detail. When discussing your life insurance options with an agent of a prospective agency, be careful not to sign off too quickly on any kind of insurance which can promise no health questions and no medical exam. Usually, the version which these agents are trying to sell isn’t actually a proper life insurance, but one which only covers death by accident. This is actually the whole reason for which medical questions aren’t needed, because there are no medical costs or death resulting from medical issues covered in the first place!
As for the actual life insurance options which are accessible without a medical exam or health questions, these are the possibilities:
- Term Life Insurance (Or Simplified Issue Term Life Insurance) – Some companies (though not all need to conform to this standard) offer this form of insurance without an exam, but only with a few health questions. A good place to start looking for this type of contract is the Metlife life insurance
- Guaranteed Issue Life Insurance – The most forgiving of all forms of no-contact insurance, this is a form of life insurance without medical exam or health questions; none of these are required. The same companies which offer the previous form of insurance (like the aforementioned Metlife) offer this one as well. As the name of this insurance implies (guaranteed issue life insurance), the acceptance to be insured is guaranteed so you have nothing to worry about. The only downside is that if the rates may be a little higher than the insurance you would get after successfully passing a medical exam.
As for the rates and how they would compare from one type of insurance to another, there’s no definite answer, suitable for every company. Still, a reliable company won’t allow the rates to stray too much, guaranteeing either the fact that they’ll remain fixed, or the fact that they won’t differ too much from other insurance forms. You should get charged much more because you opt for this type of life insurance without a medical exam or health questions. Also, bear in mind the fact that some companies may offer discounts for people already members of their society; check out the rather affordable AARP life insurance rates, for example (available online here).