That’s why it’s probably worth checking on your eligibility for regular term life insurance first before turning to no exam options.Įven if you have to get no exam life insurance (or just prefer to), the costs can be reasonable. Depending on your answers to the health questions in the insurer’s application, you might be approved for a standard policy without needing to actually show up in a doctor’s office. So even in our Haven Life example, the medically underwritten policy doesn’t always require an actual medical exam. These companies use advanced algorithms and statistics to determine if you’re a suitable candidate for a no exam policy. Interestingly, new technology has made it possible for more and more companies to offer life insurance policies without a medical exam. But if you purchase a simplified issue policy from the same company (meaning no medical exam is required), your death benefit is limited to $500,000.
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Term life no physical exam for free#
They’re colloquially known as “no exam life insurance” and they have the potential to cover you if you either can’t qualify for a traditional life insurance policy with a medical exam or if you’d just prefer the convenience of not having to take an exam.Ĭlick here to compare life insurance plans for free using QuoteWizard by LendingTree.Ī traditional medical exam for life insurance usually requires measurements of your height and weight, your blood pressure, blood and urine samples and so on. As a result, life insurers usually ask customers to go through a basic medical exam before they can be approved.īut there are, in fact, certain types of life insurance policies that don’t require a medical exam.
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Because if you’re already sick or have a life-threatening condition, the policy is more likely to end up costing the company money instead of turning a profit. So it’s not a surprise that most life insurance providers won’t enter into this agreement without more information on your overall health.
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Yet the life insurance company is betting the reverse - that you’ll pay more in premiums and fees than it’ll have to pay out at the end, or that your policy will expire before you die so no benefit ends up being paid at all. Your side of the bet is that the total you’ll pay in premiums during the life of the policy will be lower than the benefit your family receives if you die while your policy is in force. When it comes to life insurance, both you and your life insurance company are basically making a business wager.