Should You Get No-Medical-Exam Life Insurance?

Life insurance benefits many people. It can protect yourself and your family from the financial hardships that can come with an unexpected death.

But what if you don't want to undergo a medical exam? Is it possible to still purchase life insurance without a medical exam?

The answer is yes, you can get no-medical-exam life insurance. Here's what you should know.

People With Existing Medical Conditions Get Coverage

No-medical-exam life insurance is good for people who might be turned down for traditional coverage due to their medical condition. 

For instance, people with existing medical issues like diabetes or high blood pressure can still get life insurance without being turned down due to preexisting conditions. It's also good for those who don't want their medical history to be taken into consideration when determining their coverage. For example, individuals with a family history of certain illnesses may not want this to be taken into account.

You may not be able to undergo an exam. Perhaps you have a busy lifestyle and can't make it to the doctor for an exam, or you live in a remote area where there are no easily accessible medical services. No-medical-exam life insurance can help in such a situation.

Coverage May Be Smaller

No-medical-exam life insurance typically comes with lower coverage amounts than traditional life insurance. This is because the insurer can't take into account your medical history when determining your coverage level.

The Application Is Short and Sweet

The application process for no-medical-exam life insurance is typically much shorter than traditional life insurance. You won't need to answer the same extensive questions about your medical history and lifestyle. In many cases, you can fill out the application online in a matter of minutes.

Same-Day Coverage May Be Available

No-medical-exam life insurance typically has a much faster approval process than traditional life insurance. In some cases, you may get same-day coverage. That means you can get the protection your family needs without having to wait weeks or months for approval.

Premiums May Be Expensive

It's also important to note that premiums may be higher for no-medical-exam life insurance policies. The insurer is taking on more risk, and the premium is likely to reflect that.

Consult With an Insurance Provider

No-medical-exam life insurance is a good option for those who cannot or do not want to undergo a medical exam.

It's important to consult with an insurance provider to make sure you're getting the coverage you need at a price you can afford. Your provider can help you find the right policy for your needs.