No medical exam life insurance: is it right for you?


The necessity to take a medical examination can understandably encourage folks to push “purchase life insurance coverage coverage” additional down their to-do record. The well being examination itself just isn’t a giant deal, however it’s a hurdle that takes day out of your day. It will get private. And albeit, nobody likes needles.

There are a number of choices obtainable for shopping for life insurance coverage on-line. Some embrace a function which will enable sure candidates to skip the medical examination. Others don’t require an examination for any applicant. As you may think about, due to this distinction, costs differ significantly, relying upon the kind of coverage you purchase. As a client, it is advisable do a little bit of analysis to make sure you’re getting the very best worth doable.

In case you are eager to skip the medical examination, it’s necessary to know how various kinds of insurance policies cope with the medical examination. To choose the very best life insurance coverage coverage for you, contemplate how a lot you wish to spend, how a lot protection you want and what your present well being is.

Medically underwritten life insurance coverage

Earlier than we provide help to choose the precise coverage to your wants, let’s first begin with just a few product definitions which are useful when understanding insurance policies that won’t all the time require a medical examination:

Medically underwritten life insurance coverage

Usually probably the most reasonably priced forms of life insurance coverage, a medically underwritten coverage takes into consideration your age, way of life decisions (like smoking or scuba diving), and private and household well being historical past to personalize pricing to you and solely you within the underwriting course of. (Therefore the time period medical underwriting.) There are many medically underwritten choices in each time period and everlasting life insurance coverage insurance policies. This sort of coverage is normally obtainable in lots of protection quantities usually starting from $100,000 to a number of million . Sometimes, medically underwritten insurance policies are restricted to round a $1 million dying profit and obtainable to candidates with much less advanced medical histories and fewer pre-existing situations. Medically underwritten insurance policies are topic to underwriting approval, and issuing the coverage or paying its advantages relies on the applicant’s insurability, based mostly on their solutions to the well being questions within the software, and their truthfulness.  Some medically underwritten insurance policies embrace an inside course of which will enable some candidates to qualify to skip the medical examination. Those that don’t might want to take a medical examination.

Kinds of life insurance coverage insurance policies with no medical examination

Simplified difficulty life insurance coverage

Simplified difficulty life insurance coverage is among the most typical forms of no-exam life insurance coverage insurance policies. These insurance policies usually require candidates to fill out a brief questionnaire within the underwriting course of, with just a few health-related questions. However no examination is required to safe protection. Generally, chances are you’ll want to finish a quick telephone screening. Since an insurer is aware of much less about you, the applicant, with out fill perception into your way of life and well being historical past, you might be usually going to pay extra for protection than with a medically underwritten life insurance coverage coverage. Moreover, most protection quantities and time period lengths are restricted to round 20 years and $250,000. Sometimes, you will discover insurance policies as much as $500,000.

Assured difficulty life insurance coverage

Assured difficulty works because the title implies. All candidates are assured approval on protection, no matter age or well being. However that comes with some caveats. This no medical examination life insurance coverage is normally restricted to a dying advantage of $50,000 or much less and is a sort of everlasting protection, which implies that so long as you pay your premiums, protection lasts for the remainder of your life. Moreover, you’ll pay way more than you’ll when in comparison with a medically underwritten or simplified difficulty coverage. Sometimes, this no medical examination life insurance coverage is considered as a “remaining expense” coverage.

Choosing the proper coverage for you

If you need: Reasonably priced life insurance coverage protection and are versatile about taking a medical examination

In case you are value delicate, then chances are you’ll wish to contemplate medically underwritten time period life insurance coverage, which can probably be your most reasonably priced possibility.

Traditionally, most medically underwritten insurance policies require a medical examination. However there was some underwriting innovation within the life insurance coverage business that allows sure candidates who qualify for it to forego the medical examination. For instance, at Haven Life, we provide an InstantTerm course of the place some candidates, ages 18-59, searching for a $1 million dying profit or much less might be able to finalize protection with out a medical examination, based mostly on the knowledge offered through the software course of. Clients are notified as soon as an app is submitted in the event that they qualify to skip the examination. [A note from our lawyers: Keep in mind that it’s always very important to be honest in the application process. The issuance of the policy or payment of benefits may depend upon the answers given in the application and their truthfulness.]

Medically underwritten protection with out a medical examination is a little bit of a roll of the cube… as a result of chances are you’ll not qualify for the no-exam resolution course of. However, for those who do, any such coverage typically offers you with a variety of protection choices, higher pricing, and, examination or not, a reasonably easy software and buying expertise.

If you need: A no-exam coverage and are OK paying a bit extra for it

If you happen to completely don’t wish to take a medical examination and are OK paying extra for the protection, then contemplate a simplified difficulty coverage. You’ll usually be restricted to a face quantity of $250,000 or much less, so make it possible for’s sufficient protection for your loved ones’s wants. (In spite of everything, life insurance coverage isn’t concerning the medical examination, it’s concerning the folks you might be financially defending.)

You’ll should pay increased premiums to compensate the insurer for taking up extra threat by not totally realizing your medical historical past. To offer you an instance of value variations, a 20-year, $250,000 simplified difficulty coverage may cost a wholesome 30-year-old man $43.61 monthly (Policygenius, Mutual of Omaha). For $28 monthly, that very same man might be getting greater than triple the protection: a 20-year, $750,000 medically underwritten Haven Time period life insurance coverage coverage issued by MassMutual.

If you need: Protection that gained’t be impacted by well being situations

In case you are sick or have been definitively turned down for different forms of protection, simplified difficulty or assured difficulty life insurance coverage insurance policies will likely be your finest choices. Contemplate making use of for a simplified difficulty coverage first as premiums are extra reasonably priced and it has extra protection choices.

If you happen to don’t qualify for a simplified difficulty coverage, then assured difficulty protection could be a helpful monetary resolution to assist your loved ones with funeral or different bills for those who had been to cross away.

Whereas it’s, sure, time-consuming to use for a number of life insurance coverage choices, needless to say the tip objective is peace of thoughts for you and monetary safety to your family members.

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If I must take a medical examination, what occurs?

Taking a life insurance coverage medical examination is less complicated than it sounds.

The medical examination offers the life insurance coverage firm with a chance to confirm every part you’ve stuffed out within the software and personalize the speed to you and your well being. And for those who’re wholesome, this can be a good factor for you (and your pockets). You get the prospect to wow the insurer with how little threat you symbolize, and, finally, safe a decrease insurance coverage fee.

When you full your life insurance coverage software, you arrange your examination at a time that’s handy and cozy for you. You’ll be able to select whether or not you need a paramedic to go to your house or office, otherwise you’d quite drop by a medical testing workplace.

For the examination, you’ll reply some questions on your medical historical past and household medical historical past. Then, you’ll get a mini-physical requiring blood and urine samples. This could embrace checks for issues like ldl cholesterol, physique mass index (BMI), blood sugar, blood strain, and indications of nicotine, tobacco, or drug use. It usually takes lower than 30 minutes.

And if 30 minutes can prevent in your insurance coverage premiums, it simply is likely to be nicely value your time.

Get began at present.

Haven Time period is a Time period Life Insurance coverage Coverage (ICC15DTC) issued by Massachusetts Mutual Life Insurance coverage Firm (MassMutual), Springfield, MA 01111 and supplied solely by Haven Life Insurance coverage Company, LLC. Not all riders can be found in all states. Our Company license quantity in California is 0K71922 and in Arkansas, 100139527.


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