Many people who want a life insurance policy balk at the thought of taking the medical exam. It’s not so much that they fear being turned down. Some may not have the money for the exam or simply just don’t like going to the doctor. However, they have options that will provide them with the life insurance they want without going to the doctor for a medical exam.
A no-exam life insurance policy will normally cost more than one in which a medical exam is performed, but they are available if you know where to look. This article provides the basics about getting a life insurance policy without a medical exam.
Are There any Major Trade-Offs to Consider?
The trade-off is cost. If you want to pay as little as possible, choose a policy that will be underwritten according to the findings of a medical exam. Some policies will only require that you answer a few questions, while others require a full medical examination complete with various types of testing. This level of testing offers a complete and extremely accurate picture of your overall health and physical/mental well-being. If you are set against any type of medical exam, you will need to look around a little to find the best policy.
Is There a Limit to How Much Life Insurance I Can Get Without an Exam?
Insurance involves managing risk. Since insurance providers offer coverage based on your potential health risk, they will limit the amount of coverage you are able to get if they have no medical background to base their estimate on. The problem is that you may look healthy and seem to have very few risk factors. However, in reality, you may have hidden health concerns that have not yet been diagnosed. A thorough medical exam would identify these risks and allow your policy to be written accurately.
What Type of Life Insurance Usually Doesn’t Require an Exam?
If your insurance carrier already knows you through working with you having insight into your lifestyle, you may be able to get a medically underwritten life insurance policy without sitting for a medical exam. If you are honest about answering all of the questions, they may gain enough information to provide you with the policy you want without going to the doctor. For this to happen, you must be as transparent as possible. Offer your medical records if they are asked for. This will give a somewhat accurate picture of your health without forcing you to be examined. Additionally, some policies like guaranteed issue life insurance and simplified issue life insurance don’t need a medical exam.
Having a life insurance policy in place is incredibly important. The benefits it will provide to your family are extensive and long-reaching. Even if you prefer not to submit to a medical exam, there are options you can choose from. To learn more about your options when looking for a quality life insurance policy, call our insurance experts at Randy Jones Insurance Services. We will be able to find a policy that will suit your needs, with or without a medical exam.
