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No Medical Exam Life Insurance for Seniors

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.No Medical Exam Life Insurance for Seniors
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 Medical Exam Life Insurance for Seniors

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.

No Exam Life Insurance for Seniors in Just 24 Hours

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 in 24-48 Hours

  • 10 Year Term Issue Ages 18-65 $25,000-$250,000 of coverage
  • 15 Year Term Issue Ages 18-60 $25,000-$250,000 of coverage
  • 20 Year Term Issue Ages 18-55 $25,000-$250,000 of coverage
  • 30 Year Term Issue Ages 18-45 $25,000-$250,000 of coverage

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.

Pricing for No Exam Life Insurance with Fidelity Life

For this example I'll use a 50-year-old Male (non-smoker) Applying for $100,000 of Life Insurance:

  • A 10 Year Term Policy would be $47.24
  • A 15 Year Term Policy would be $56.64
  • A 20 Year Term Policy would be $74.56

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.

No Exam Policies with Transamerica

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:

For Applications between $25,000-$99,999

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

For Applications between $100,000-$249,999

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.

Graded Benefit Senior Term and Whole Life

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.

Is No Exam Life Insurance right for you?

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.
No Medical Exam Term Life Insurance

No Medical Exam Life Insurance Advantages

No Needles

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.

Quick Turn Around Time

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.

Disadvantages of No Medical Exam Life Insurance

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.

No Medical Exam Life Insurance May Cost More

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.

Coverage is Limited

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.

Turned Down for Life Insurance?

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.

Saving Money On No Exam Life Insurance

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.

When is No Medical Exam Life Insurance a No Brainer?

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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