The medical exam can often be one of the most daunting parts of the life insurance application process. While the actual exam is simple, it’s a step that many people wish they could avoid.
Luckily, it’s possible to get a life insurance policy that requires no medical exam. Whether you just aren’t interested in taking the medical exam, are in a hurry to get covered or are concerned about your current health working against you, there are a few options to get you and your loved ones covered without a medical exam.
Accelerated Underwriting
Accelerated underwriting gives you the opportunity to purchase traditional life insurance on a fast track. While the shopping process can be sped up working with SelectQuote, accelerated underwriting simplifies it even further by avoiding some of the more drawn out medical steps that come with obtaining life insurance. Accelerated underwriting doesn’t require a medical exam but you’ll still have to provide both current and historical health-related information to ensure it is the right choice for you. You shouldn’t see an impact in cost when going with accelerated underwriting, the biggest difference you might see, however, is a lower offered coverage amount.
Simplified Issue Life Insurance
Simplified issue life insurance is a good option for both seniors and individuals with health problems and falls under the category of final expense insurance. Although approval isn’t always guaranteed, your coverage is based on a questionnaire about your health and lifestyle rather than a medical exam.
Guaranteed Issue Life Insurance
Along with simplified issue, guaranteed issue whole life insurance is another type of final expense insurance. Guaranteed issue life insurance is just as the name implies: guaranteed. Unlike simplified issue life insurance, guaranteed issue skips the health questionnaire and only requires a basic application to be completed. If you’re between the ages of 45-85, you can’t be turned down, making it another solid option for seniors or individuals with health concerns.
At SelectQuote, we can help you find the right kind of life insurance for you, but it’s important to keep in mind that insurance carriers might use the following to qualify you without an exam:
- Pharmacy report, which typically lists all of the medications you’ve been prescribed over a certain number of years
- Motor Vehicle Department report
- Medical Insurance Bureau report (typically used if you’ve applied for or been denied life insurance before)
- Credit/financial history
No medical exam required life insurance is an option that can not only save you time, but can be beneficial for those concerned about their current health or age working against them in terms of cost.
Figuring out what life insurance is right for you can seem complicated, but that’s what SelectQuote is here for. Our licensed insurance agents have the answers you need to make the right decision for you and your family.
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