Buying Life Insurance Without a Medical Exam

If you have been comparing life insurance policies and benefits, you may have noticed that several providers may require you to undergo a medical examination before they will approve you for a policy. The purpose of this exam is to ensure that you do not have a pre-existing medical condition such as diabetes that would affect your benefits. While a medical examination is common if you are applying for whole life and term life insurance policies, you can still obtain a solid plan without visiting your physician. If you have a pre-existing condition and are seeking a quick and hassle-free application process, search for life insurance policies without a medical exam.

The majority of these applications consist of simple “yes” or “no” questions. However, it is vital to always tell the truth when applying to avoid facing serious complications further down the road. Never be afraid to be honest. Even if you fall into a higher risk category due to tobacco use, high cholesterol, depression, obesity or a wavering family health history, you can almost always secure a guaranteed issue life insurance plan.

The provider may check the information you provide with the Medical Information Bureau (MIB), an agency that exists to deter the attempts of applicants of obtaining policies by misrepresenting or omitting the facts. When you apply for a policy with a provider belonging to the MIB, you can expect that the provider will check the MIB to verify the accuracy of your current health condition.

While you may still be eligible to obtain a health insurance plan, if you are suffering from more serious complications and health risks, you may be faced with a higher premium for your coverage. However, there are options available for every individual, regardless of their current state of health. There is also a faster approval time for no exam life insurance policies, although the time will depend on the information you provide and your specific application. Some providers even allow applicants to complete the process online.

You may be entitled to stack these policies if you need more coverage; in other words, if you have found a life insurance policy that meets your needs except for the coverage amount, you may purchase additional plans and use them at the same time to get the coverage you want.

Insurance providers offer policies based upon their assessment of your current risk. While providing you with coverage without requiring a medical examination may mean slightly higher premiums for policyholders, many feel that the ease of obtaining a policy offsets the higher monthly payments.

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