Is It Possible to Obtain Term Life Insurance With No Medical Exam?
Everyone is essentially looking for the same thing when it comes to purchasing term life insurance, That is a painless and straightforward experience. Luckily, when it comes to buying life insurance, it is actually possible for you to make the entire process completely painless. The painless part of shopping around for term life insurance has everything to do with the price – And finding the cheapest possible term life insurance rates has a lot to do with your health, especially when it comes to no medical exam term life insurance.
Term life insurance by nature is one of the least expensive of all life insurance forms. If you want your term life insurance shopping experience to be simple and painless, then one of the greatest things that you can do is to choose a type of term life insurance that is easy, straightforward and time saving in nature. These three characteristics quickly point to any type of term life insurance that does not require a medical exam. Most insurance companies and providers typically call these no medical exam term life insurance variations “non medical limits”.
The bad news about non-medical limits when it comes to term life insurance is that these limits often become a lot more restrictive when you get older. But this should deter you from exploring it as a viable option for life insurance coverage, even as a senior citizen because even with these restrictions, no medical term life insurance is still one of the least restrictive forms of life insurance, allowing many people to be insured who would normally have difficulty obtaining the level insurance that they need.
If your goal when looking for term life insurance is to find a painless and easy option, then it would definitely behoove for you to shop around looking for the largest possible face amount of life insurance that you could purchase without requiring that you undergo any serious physical or medical examinations. Nearly all life insurance companies who are looking to investigate the medical background of applicants use the Medical Insurance Bureau, or MIB. The MIB may have additional medical information regarding an applicant that may lead to whether or not they qualify or are rejected for their application.
Keep in mind , you should never seek a no medical exam life insurance policy to hide a pre existing condition or a terminal illness, because claims in the future may be denied because of these misrepresentations, since the answers to your application are not the only things that determine whether or not you will qualify for this type of term life insurance.
It is possible for you to obtain , as well as a variety of other types of term life insurance. All that is really required of you is that you shop around, and that when applying; you are honest about the state of your health. Simply because you are not required to take a medical exam, that does not mean that you will not be required to show honesty regarding the state and level of your health. You still do need to be in decent health to qualify for term life insurance with no medical exam, but the requirements of this type of insurance are generally a lot more lenient than with other, higher risk forms of insurance like whole life insurance.