Many scenarios prompt online life insurance quotes without a medical examination. Most applicants have an existing condition making it more difficult to qualify for coverage.
Simplified issue applications allow you to begin without having to take a medical examination. Rates are generally higher for this approach when compared to undergoing full underwriting.
Online life insurance quotes with no health questions asked means having to pay an even higher rate for guaranteed acceptance. No waiting periods requires that you enroll through your employer.
- Attained age at application and death benefit amounts
- Pros and cons of different policy types
- Guaranteed acceptance and no waiting period options
Life Insurance Quotes No Medical Examination
Learn about the pros and cons of getting online life insurance quotes with no medical exam. Issuing companies reserve the best rates and benefits for those applicants willing to demonstrate that they are a reasonable risk. You pay a price for avoiding the needle to draw blood and providing a stool sample.
Each policy type has different considerations for applicants wanting to avoid full medical exams.
- Blood samples
- Stool samples
- Paramedic exams
- EKG to monitor heart function
For each policy type, you will find a cutoff death proceeds amount, and age at the time of application. A simplified issue application asks fewer less intrusive health questions and does not require a follow-up physical.
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Term life insurance quotes online for policies requiring no medical examination can help applicants with temporary needs. However, Term may not be your best choice if you are concerned about a pre-existing condition that is not terminal.
By design, term programs do not stay in force very long. They re-price their premium rates after 5, 10, 20, or 30 years. Your odds of qualifying for a new term plan 10 or 20 years into the future are not very good – unless your health rebounds. You may pass away without coverage in force if you live longer than expected.
Whole life insurance quotes online for policies with no medical examination requirement offer greater security, for those applicants willing to pay for the privilege.
Whole life offers certainty. You pay level premiums for the duration of the contract, your heirs receive specific death proceeds amounts, and the contract generates a minimum rate of return. You know exactly how much cash value will accrue at specified time intervals.
However, you pay a much higher premium rates for all this certainty. Security comes at a price.
Universal life insurance quotes online for contracts without a medical examination requirement, offer flexibility. This policy type may represent the ideal ground between for applicants concerned about what a blood and urine test might reveal.
Universal policies provide permanent coverage that accumulates cash value. You can keep the coverage in force as long as you make payments on time. The rates can vary within narrow ranges over time, which often means a lower initial monthly premium cost.
Life Insurance Quotes without Health Questions Asked
Online life insurance quotes without a medical exam or health questions asked doubles down on the risks for issuing companies. Now you are suggesting that the company pay a death benefit to cover a person with absolutely no information about their expected longevity.
Expect to pay a much higher premium rate, or purchase a policy at work during an initial open enrollment period. This holds true for seniors, guaranteed acceptance contracts, and coverage with no waiting period.
Online life insurance quotes for policies offering guaranteed acceptance are synonymous with those without a medical examination or health questions. Guaranteed acceptance means that the company will approve coverage no matter how sick the applicant.
The company agrees to issue coverage to all takers willing to pay exceptionally high premium rates. In general, only applicants with significant health concerns have an interest in this option. They can say that they have something to cover funeral expenses, even if it costs an arm and a leg.
No Waiting Period
Some people ask for the moon. An online quote for life insurance without a medical exam, without asking health questions, and without a waiting period is asking for the moon. The issuing company has no way to protect itself.
Supplemental plans through employers may be your only option. Many companies will offer coverage with no waiting period on a guaranteed issue basis for large groups. You have the opportunity to enroll only once. If you passed the first time around, you are out of luck. If you begin work at a new employer that offers such a benefit, you may opt-in during a special enrollment period. Buy as much coverage as you can.