What is no-exam life insurance?

No-exam life insurance allows you to get coverage without undergoing a physical medical examination. Instead, insurers rely on health questionnaires, prescription history checks, and database reviews to assess your risk. This speeds up the application process significantly.

Is no-exam life insurance more expensive than traditional policies?

Yes, generally, no-exam life insurance policies have higher premiums than traditional, fully underwritten policies for comparable coverage. This is because insurers take on more risk without the detailed health information provided by a medical exam.

Who should consider no-exam life insurance?

No-exam life insurance is ideal for individuals who need coverage quickly, dislike medical exams, have minor health issues that might complicate traditional underwriting, or are seeking smaller coverage amounts for specific needs like final expenses.

What types of no-exam life insurance are available?

The main types are simplified issue, which requires a health questionnaire but no exam, and guaranteed issue, which has no health questions or exam but comes with lower coverage, higher premiums, and often a graded death benefit. Accelerated underwriting is a hybrid option for healthier individuals.

Can I be denied a no-exam life insurance policy?

While guaranteed issue policies offer guaranteed acceptance, simplified issue policies can still deny coverage if your health questionnaire reveals significant medical conditions or high-risk lifestyle factors. It's crucial to be honest on your application.

How much coverage can I get with a no-exam policy?

Coverage limits vary by policy type and insurer. Simplified issue policies typically offer up to $500,000, while guaranteed issue policies are usually capped at $25,000 to $50,000. Traditional policies offer much higher limits.

How long does it take to get approved for no-exam life insurance?

Approval for simplified issue policies can range from minutes to a few days or weeks. Guaranteed issue policies often provide instant approval. This is significantly faster than traditional policies, which can take weeks or months.

No-Exam Life Insurance: Is It Worth It? | One Percent…