« All Articles

Why You Should Consider No-Exam Life Insurance

Medical exams can be one of the most stressful situations people put themselves through on an annual basis. With a number of Americans facing coverage obstacles posed by preexisting health conditions, it’s no wonder so many shake in their boots at the thought of going – especially when it’s a requirement for so many life insurance policies.
 
 


What is No-Medical Exam Life Insurance?
 
No-medical exam life insurance is a type of life insurance policy that does not require a medical exam as part of the application process. A medical exam is normally a requirement for obtaining a life insurance policy, but it’s a requirement that doesn’t sit well with most.1 Due to the waiving of a medical exam, no-medical exam life insurance is sometimes considered to be a more expensive option than term life insurance, so it’s not suggested for everyone. However, those with underlying health issues, preexisting conditions, or family history of certain diseases may find no-exam medical insurance well worth considering.
 

No-medical exam life insurance does not require the standard medical exam that most life insurance policies need to make you an offer.

How Does No-Medical Exam Life Insurance Work?
 
As mentioned, no-medical exam life insurance does not require the standard medical exam that most life insurance policies need to make you an offer. The insurance company will determine your eligibility for a no-medical exam insurance policy. If you are eligible, you should receive a policy offer. Once received, all that’s left to do is sign and pay your first premium!
 
Pros and Cons of No-Medical Exam Life Insurance
 
Like all things in life, there are pros and cons to every decision. When making a choice about life insurance, that is no different. As such, for those considering a no-medical exam life insurance policy, consider some of the main pros and cons to consider:1
  • Pros
    • Good alternatives for individuals with health issues that may otherwise disqualify them from traditional life insurance policies
    • No need to meet with a technician
    • No need to give a blood or urine test
    • Faster approval times due to no medical exams being required
  • Cons
    • Typically more expensive than traditional life insurance policies
    • Fewer coverage levels available
    • Fewer riders available
    • There may be a waiting period

How to Obtain a No-Medical Exam Insurance Policy
 
If you’ve decided on a no-medical exam life insurance policy, you may be wondering where – and how – to get one. There are a few ways in which you can go about enrolling in a no-medical exam policy. Your first option is to speak to your job’s human resources department and find out whether they offer a no-medical exam insurance policy.Should your employer not offer a no-medical exam life insurance policy, you can always speak to your insurance agent or insurance company about the no-medical exam policies they offer.1

Of course, there are a number of no-medical exam life insurance policies to choose from, so it’s important to do your research in order to ensure you make the best policy decision.  
 
  1. U.S. News, What Is No Exam Life Insurance, 2020