It is easy to see why no medical exam life insurance for seniors is a very appealing option. Life insurance provides the financial security your family needs if something tragic were to happen. Many families are left with debt that they cannot afford to pay. Having life insurance will pay for all the final expenses that families struggle to cover after losing a loved one. The cost of a funeral has risen to $10,000 on average, plus the expenses of any unpaid debts, or medical expenses that could arise at the end of a life.
Many people that have been rejected for life insurance think they are "uninsurable" and cannot purchase a life insurance policy, but this could not be farther from the truth. No medical exam life insurance is an excellent option for many consumers looking to purchase a life insurance policy. The main difference between no medical exam life policies and traditional is that with a no medical exam policy, you do not have to undergo the physical examination. One of the main demographics that can benefit from these no exam life insurance policies is senior citizens.
No exam life insurance policies are perfect for seniors for several different reasons. The first reason is the acceptance of no exam policies. Regardless of your health, you will more than likely be accepted for insurance coverage. As consumers age, their health typically declines and continues to get worse every year, which can make find adequate life insurance difficult.
The advantage of these policies is that if you are in poor health or have any health complications, you will not have to pay the high monthly premiums of policies that require a health physical.
The other advantage of no exam life policies is the ease of applying for them. In most cases you can apply for these policies in an hour or less. For many seniors, the straightforward application process is important versus the complication forms and medical exam process of a traditional life insurance policy. The application will only require basic information about: family history, age, tobacco usage, height, and weight. Most times these policies can be complete over the phone without having to go into a physical office. These are especially helpful to those who have health issues or are morbidly obese needing life insurance coverage and cannot pass the traditional medically underwritten life insurance policy medical exam.
With Fidelity Life, you can get approved for life insurance in just 24 hours. Here are some highlights of this no medical exam life insurance:
Approval is based on Standard Non-Smoker or Standard Smoker rates. To get approved you have to answer questions about your medical history. Fidelity Life will also verify your medical history with the MIB (Medical Information Bureau), Rx (Prescription records) and Motor Vehicle Report. All of these factors will be considered when calculating rates.
To get approved for Fidelity Life you have to be in generally good health – this insurance would not be a good fit if you have pre-existing conditions and looking for high-risk life insurance.
For this example I'll use a 50-year-old Male (non-smoker) Applying for $100,000 of Life Insurance:
If you need to get a life insurance policy quickly, we can help you apply and get you approved for Life Insurance within 24 hours. Click here and fill out our Contact Us form.
There are dozens of companies that offer no medical exam life insurance policies. Transamerica also offers no medical exam life insurance, and I'll review options for coverage.
Unlike Fidelity Life where you can have approval within 24 hours, approval with Transamerica will likely take 2-4 weeks. The reason is that Transamerica will order an APS (attending physician statement), which is essentially your doctor's records. This is part of Transamerica's underwriting process. The benefit to this is that if you do have a pre-existing medical condition or considered high risk, you can still possibly get approved with Transamerica without a medical exam. Here are highlights Transamerica no medical exam life insurance for seniors:
Non-Medical Term Insurance $25,000-$99,000 Available ages 18-60
Ages 61-70 can apply for Non Medical term insurance from $25,000-$50,000
No Medical Exam Term life insurance coverage for ages 18-60 up to $249,999.
If you have a pre-existing medical condition, Transamerica will consider non-medical underwriting up to a table D rating. This means that you can potentially get life insurance with no medical with some pre-existing conditions, for example diabetes, asthma, or sleep apnea.
If you have pre-existing health conditions, another option might be a graded death benefits policy. With a graded death benefits policy, there is a waiting period of usually 2-3 years that you have to outlive before 100% of the death benefit goes into effect. If you were to die before the waiting period is over, the insurance company will not pay out the face value of the policy, but some companies will refund your premiums. You just answer a few health questions, and you can get approved for life insurance within 24-48 hours. These policies might have slightly higher monthly premiums that other policies, but they give you another option.
Finding the right life insurance policy for you is never easy. There are countless companies offering numerous different types of policies. So do you know if a no exam policy is right for you?
The first thing to consider is your health. If you are an excellent health or, at least, average health, then getting a traditional life insurance policy with a medical exam could save you money, but if you are in poor or below average health, a no exam life policy is the way to go.
How much time are you willing to invest in finding a policy? Finding the right traditional policy can be time-consuming. Many consumers call dozens of insurance companies before they find one with the right fit, and then they have to go through the application and medical exam process, which can take an additional two weeks to a month. If you are not willing to put in that much time into your life insurance policy, then a no exam policy is right for you. No exam policies applications only take an hour, and your can be approved in one or two days, in some cases as little as a few hours.
Coverage is available starting age 50 and goes all the way up until age 85. You can apply for as little as $10,000 in coverage, up to $150,000 in coverage depending on your age. If you are seeking high risk life insurance for a senior, this may be the solution for you.
If you are looking for a no medical exam life insurance policy, fill out the form below for a customized quote specifically for you.
Every insurance company is different, and each company is going to give you different rates depending on which company that you contact. With no exam life insurance plans, the rates that you could vary drastically from company to company. There are hundreds of companies on the market that have no exam life insurance plans, which means that you could spend weeks looking for the cheapest plan. Instead of wasting your valuable time, let one of our independent brokers do all of that dirty work for you.
Life insurance is one of the most important investments that you’ll ever make for the future of your family. If something were to happen to you, and you didn’t have life insurance, then your family would be left with a massive amount of debt and other final bills. Losing someone that you love is never going to be easy, but being left with a mountain of bills is going to make the whole situation that much worse.
If you have any questions about no exam life insurance, please contact one of our agents today. We know that shopping for life insurance can be a long and confusion process, but that’s why we are here to help. It’s our mission to ensure that you’re getting the best rates possible and to ensure that your loved ones have the insurance protection that they need.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. Contact me today and we can get the life insurance process started.
It would be great if buying life insurance was a quick and easy process, but that isn’t always the case. Getting approved for life insurance usually takes about 4-6 weeks and includes getting a medical exam. Sometimes life insurance companies also request your medical records from your doctor. It is for this reason that many people look to get a no medical exam life insurance policy.
The biggest reason why people buy a no medical exam insurance policy is because they aren’t fond of having blood drawn. Some people just hate needles and would do anything to avoid them. If this sounds like you, then a no medical exam policy would be something you should consider.
Another reason to consider a no medical exam life insurance policy is how quickly you can get a decision (hopefully an approval). For example, with Fidelity Life’s Rapid Decision Express Term Life Insurance policy, a decision is made within 24-48 hours.
There are many benefits to getting a quick decision on your life insurance application. First, and most important is that if you get approved, you are covered with insurance should the unexpected happen. Obviously this is the reason you are buying a life insurance policy, and having the peace of mind that your loved ones are protected is a great feeling.
Another reason why you may want to secure coverage quickly is because there is a specific reason why you are buying life insurance. For example you may be flying overseas on a business trip, or vacation, and you want to secure coverage before the trip. You may not be able to do that with a traditional life insurance policy, but you can do it quickly and easily with a no medical exam life insurance policy.
Sometimes when securing a business loan, you are required to get a life insurance policy and assign it as collateral. Most people choose to buy a term life insurance policy, but underwriting time can slow down the process of securing your loan. In these cases, a no medical exam policy can help get your life insurance policy in just a couple of days, and you can get the money you need for your business.
The quick acceptance time is one of the most common reasons that applicants decide to purchase a no exam life insurance plan. If you’re looking to get life insurance protection as quickly as possible, then a no exam plan is going to be one of the best options for you.
Since no medical exam term life is fast and can be easy to get, why doesn’t everyone buy it? Every type of life insurance plan is going to have some drawbacks, and no exam policies are no different. It’s important that you understand all of the types and the disadvantages of each of them. Here are a few of the disadvantages of life insurance without a medical exam.
When buying a traditional term or permanent life insurance policy, a medical exam is required. Since the insurance company gets the results from this exam, they have more significantly more information on your health then without a medical exam. Since the insurance company has more information, a medical exam policy involves less risk to the insurance company, and thus you typically get better pricing on life insurance with a medical exam. Therefore, if you are looking to get the cheapest term life insurance policy that exists, you are probably better off with a policy that does require a medical exam.
There is a limit to the amount of life insurance coverage you can get with a no medical exam policy. Depending on the life insurance company, limits typically vary from $100,000 to $350,000. Fidelity Life does have a mortgage express term life insurance policy that allows you to get $500,000 of coverage without a medical exam if you have gotten a mortgage within a year. You can get higher coverage by purchasing multiple policies from different carriers, but you are limited to the amount of coverage any one no medical exam life policy will offer you. Perhaps you're looking for quotes from other companies such as a quote for Allstate term life insurance If so; we can help.
One common reason that people look at no exam plans is because they’ve been declined for life insurance protection because of their health or a pre-existing condition. It’s common for people to get turned down, but that doesn’t mean that a no exam life insurance policy is your only option. If you’ve been declined for protection, don’t panic and automatically buy a no exam insurance policy.
Every insurance company is different, which means that all of the companies are going to have different medical underwriting standards based on their restrictions. Some insurance companies have more experience working with high-risk applications with pre-existing conditions, while other companies are going to be more conservative with their policies. If you were turned down because of your health, it might be because you chose the wrong insurance company. There is a chance that if you find the right company, you’ll be approved for a traditional policy that requires a medical exam.
For example, if you’ve been rejected for protection because of diabetes, either type 1 or type 2, there are dozens and dozens of insurance companies that are going to provide you with quality and affordable life insurance coverage. Some companies specialize in working with all types of applicants diagnosed with diabetes. While other companies are declining those applicants, these companies are giving them affordable term insurance protection.
When you’re shopping for life insurance protection, it’s important that you get the lowest rates on your life insurance coverage. Without the medical exam, there are fewer ways that you can trim down your premiums, but there are still some ways that you can save money on your insurance coverage.
The first thing that you should do is cut out any tobacco that you currently use. If you’re listed as a tobacco user on your application, then you’re going to be facing much higher premiums for your life insurance protection. Smokers are at a higher risk of being diagnosed with health complications like smoking or cardiovascular problems, which means smokers are a higher risk to the insurance company. In fact, smokers are going to pay around twice as much for life insurance versus what a non-smoker is going to pay for the same sized plan.
The best way to ensure that you’re getting the lowest premiums is to compare dozens of plans before you decide which policy is going to work best for you. As I mentioned, every insurance company is different, which means that they all have different ways of calculating what they are going to charge for insurance coverage. With no exam plans, they have less information to base your premiums on, which means that you’ll get drastically varying rates depending on which company that you get the quote from. If you want to save money, it’s important that you find the company with the lowest rates.
There are thousands of companies on the market, which means that you could spend weeks and weeks calling agents to find great rates, or you can let one of our agents do all of the hard work for you. We are independent insurance agents, which means that we don’t work with one single insurance company. Instead, we work with dozens of highly rated companies across the nation, and we can bring all of the best plans directly to you. No hassle. No fuss.
There are times that I would always recommend buying a no exam life insurance policy over a traditional policy. Typically this is when someone is fairly young and applying for a smaller policy, usually under $250,000. The reason I recommend no medical in these cases is that often times for smaller policies, especially for younger people (usually under 40 years old) the pricing for a traditional policy is only a few dollars a month less than a no medical exam life insurance policy. In these cases I think that paying a few more dollars a month to get a policy quickly and easily without a physical exam is worthwhile.
If you are looking to buy life insurance policy and save money, I urge you to compare life insurance quotes. You can do so by filling out the quote request form below. I can help you compare rates among no medical life insurance as well as traditional policies. This will help you decide which option is best for you and your family.
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If you are looking for a $25,000 term life insurance policy, you may be surprised that there are limited choices. Many life insurance companies have minimum coverage amounts of $50,000 or $100,000. In this article I’ll highlight a couple of life insurance companies that do offer $25,000 of coverage and discuss when a medical exam is required and when you wouldn’t need a medical exam. I’ll also provide some examples of pricing in this article. Continue reading to learn more about Life Insurance quotes over 50.
When you’re buying life insurance, it can be a complicated process. There are dozens of different factors that you’ll need to consider and thousands of different companies that you can choose between. It’s vital that you get the best plan to meet your needs. Luckily, we are here to make the process as quick and straightforward as possible. We understand how important life insurance is, and we want to help you make the best decision for your family.
You can compare rates for yourself right below this paragraph, or continue reading for more information on a $25,000 term life insurance policy. (more…)
Life insurance is an excellent safety net that you can buy for your loved ones. Nobody wants to think about something tragic happening, but you never know what’s going to happen tomorrow. If you were to pass away, your loved ones could be left with a mountain of debt and other final expenses.
When you’re looking to get life insurance coverage, it can be a confusing process. There are dozens of different factors to consider and various kinds of plans. It’s important that you have the insurance coverage that your family will need. Check out our post on understanding life insurance policies, to further help you in this process!
With a fatal accident happening every four minutes insurance companies have created the accidental death benefit life insurance rider and policy. In this blog post I’ll explain what I mean by “rider” and by “policy”, and provide information on accidental death benefit life insurance. (more…)
Fidelity Life Insurance is one of the oldest and most trusted life insurance companies. They provide real options for the average American who is searching for affordable term insurance that is a no medical exam life insurance policy. There are two programs in particular from Fidelity Life Insurance that can benefit individuals who need to save money on their life insurance policy: Rapid Decision Express and Rapid Decision Senior Term Life.
Rapid Decision Express No Medical Exam Life Insurance
Thanks to the Internet and their new streamlined processes, Fidelity Life Insurance is able to issue their new Rapid Decision Express product in a matter of days instead of months. They have a Rapid App online application form that will quickly advise if you are approved for coverage. It is the fastest and easiest way to get life insurance, and almost everyone who is in good health will be approved.
The Rapid Decision Express plan offers guaranteed level premium term periods of 10, 15, 20, and 30 years. After the level premium period, the rates will increase each year until the age of 94. It is a level death benefit term life insurance product to the age of 95.
All you will need to do to find out if you are approved is answer a few health questions about your medical history. You won’t need any medical tests or exams that will force you to wait weeks or months for results before finding out whether or not you are eligible for coverage. We are able to examine your unique case and recommend a solution that fits your needs, as well as your budget, and get you approved for coverage within 24 hours without a medical exam required.
Rapid Decision Senior Term Life No Medical Exam Life Insurance
This plan from Fidelity Life is well-suited for senior citizens who live on a fixed monthly budget. It offers seniors partial coverage immediately and then full coverage after their third year. There is also the option for whole life insurance for seniors who are willing to pay extra for final expense protection and cash value accumulation, although the term life insurance option is considerably more affordable.
The Rapid Decision Senior Term Life plan provides coverage for ages 50 through 70 for 10-, 20-, or 30-year terms (depending on your age) and it can cover you for benefit amounts ranging from $10,000 to $150,000. It provides a level premium for the life of the policy, and the full death benefit is paid for any cause after the third year. The death benefit will be reduced by 50% at the end of the predetermined term.
The Rapid Decision Senior Term Life insurance policy does not usually require a medical exam, unless there is a need to clarify a previous aspect of your medical history. The approval is based on information obtained from database sources and the answers to Fidelity’s health questions. Because it is a term life insurance policy it's an affordable way for seniors with health conditions to get approved for coverage.
Term life insurance is always the most affordable option, because insurance companies are only covering your policy for a set period of time.
There are a few good choices for getting term life insurance without a medical exam, and in this blog post I’m going to specifically highlight ANICO – which is American National Life Insurance Company and their signature term life insurance without a medical exam. If you would like to get life insurance quotes use our life insurance quotes tool right below this paragraph, otherwise read on to learn more about no medical term life insurance.
American National Life Insurance Company was originally founded in 1905. They are headquartered in Galveston, Texas. ANICO has an A rating from A.M Best, which is considered Excellent, and an A rating from S&P (standard & poors), which is considered Strong. ANICO has over 8 million life insurance policies in force, and trades on the NASDAQ stock market. Based on its long history – being in business over 100 years, and ANICO’s strong financial ratings, I feel comfortable recommending American National as a company to consider when looking for term life insurance. If you are looking for no medical exam term life, I would definetly consider ANICO since they are one of a handful of quality, competitive, life insurance companies that offers no medical exam life insurance.
ANICO offers Underwriting Express for term life insurance applications from $50,000 up to $250,000 up to age 65. With Underwriting Express, there is no medical exam required and you can have an approval on your policy in as little as 72 hours. ANICO offers Standard Tobacco, Standard Non-Tobacco, and Substandard Rating. Most healthy individuals will qualify for standard rates. However if you have a pre-existing health condition, such as diabetes – you can qualify for substandard rates, and still get life insurance with no medical exam for diabetics. Let me give you some examples of pricing so that you can have an idea of what pricing might be. For pricing specifically for you, contact us for a quote.
$250000 10 year term for 30 Year old Male - $20.52
$250000 10 Year term for 30 year old Female - $18.58
$250000 20 year term for 30 year old male - $28.94
$250000 20 year term for 30 year old female -$24.62
$250,000 30 year term for 30 year old male $42.34
$250,000 30 year term for 30 year old female $34.99
$250,000 10 year term for 40 year old male- $27.86
$250,000 10 year term for 40 year old female –$25.06
$250,000 20 year term for 40 year old male - $40.61
$250,000 20 year term for 40 year old female –$35.64
$250,000 30 year term for 40 year old male - $64.58
$250,000 30 year term for 40 year old female - $50.33
$250,000 10 year term for 50 year old male- $55.94
$250,000 10 year term for 50 year old female –$45.79
$250,000 20 year term for 50 year old male - $88.78
$250,000 20 year term for 50 year old female –$66.96
$250,000 30 year term for 50 year old male - $159.84
$250,000 30 year term for 50 year old female - $115.34
The above examples should give you an idea of the kind of rates you can expect for a no medical term life insurance policy at $250,000 worth of coverage.
If you happen to live in NY, you will find that not many companies offer no medical exam life insurance in NY. Transamerica does offer up to $100,000 worth of coverage in NY. With ANICO you can get up to $250,000 of term no medical exam life insurance in the state of NY.
If you would like to compare rates, you can use the life insurance quotes tool below or contact us.
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If you recently bought a home and took out a mortgage, you might be thinking about getting a life insurance policy. There are several options to get protection for your family including options that do not require a medical exam, and I’ll go through them in this blog post.
Some mortgage lenders offer mortgage protection life insurance. For example, Dollar Bank offers insurance that will reduce or pay off your mortgage in the event of your death. Typically the lender is the beneficiary on this type of policy, which is often decreasing term life insurance. In decreasing term life insurance, as your mortgage balance decreases, your amount of coverage decreases as well. Typically these type of policies don’t require a medical exam and you can typically pay the premium along with your mortgage payment.
If you don’t want your lender to be the named beneficiary on your policy, you can choose to shop for a term insurance policy. With a term policy, you can choose the amount of coverage you want, and match it up with the length of your mortgage. For example if you have a $250,000 30 year mortgage, you can buy a $250,000 30 year term policy. Because you own the policy, you can name whoever you want as the beneficiary. Unlike decreasing term life insurance, term policies are usually level term, which means the life insurance coverage stays the same throughout the period of time you have the policy. At ChooseTerm we specialize in helping you shop for the best rates on term life insurance, and you can fill out our quote request form on our home page.
If you choose to get a Term Life policy, there are options for policies that don’t require a medical exam. If you have gotten a mortgage within a year, you can get up to $500,000 in a term mortgage life insurance policy without a medical exam. If you obtained your mortgage over a year ago, or don’t have a mortgage currently, you can still get a non-medical term life policy, typically up to $350,000 in coverage. At ChooseTerm, we work with several carriers that offer a no medical life insurance policy, and we can help you obtain a policy at the best possible price.
If taking a medical is not a big issue for you, and you are generally healthy, you can get a better rate on a policy by buying a term life policy that does require a medical. With ChooseTerm you can shop for over 30 life insurance companies and we can help you find the best rate for this type of policy. Contact us today for a quote.
If you have recently gotten a mortgage, the important thing to remember is that getting some kind of protection for your family is very important. The last thing you want your family to worry about is how to deal with the monthly mortgage payment while they are greiving. Look into your options, but don't procrastinate, protect your family today.
Author: Liran Hirschkorn