How To Get Term Life Insurance Quotes No Exam Required

Term life insurance quotes no exam required, is creating quite a buzz right now.

There are quite a lot of reasons someone might want term life insurance, with no exam required, and the process of applying is quite simple.

Term Life Insurance Quotes No Exam Required

Applying for life insurance typically requires a medical exam. It could include things like a mouth swab, urinalysis, an expanded blood draw, and in some cases, EKG’s or treadmill tests.

Obviously, those can be a pain in the neck (or arm) when applying for a basic life insurance policy. But as consumers mindsets have changed, so have underwriting practices. Insurance companies have had to adapt for those consumers who do not want to mess with the exam, but still want some coverage in place.

You might not want to do a medical for several reasons:

1. Time. It can be quick to meet with a paramedical nurse, perhaps just 20 minutes, but it could last a lot longer if the policy you applied for has extra requirements, like the EKG.
2. Convenience. Some people simply want to buy life insurance like you would anything else at the grocery store: pick what you want, and pay for it.
3. Fear. It’s not uncommon for a person to have a fear of this kind of exam, namely the expanded blood draw because it requires needles. While there are some newer ways to get the blood they need for the exam, avoiding it altogether is an option, too.
4. Speed. Buying life insurance with no medical exam can get you coverage much faster, sometimes in as little as a day. If you need a policy in a hurry, it may be a viable option for you.

Buying term life insurance with no exam required has many advantages, and might be right for you, but it’s not all glitter and unicorns. There are some drawbacks.

The Drawbacks Of Life Insurance With No Exam

There are obvious reasons why someone might want life insurance with no exam, but it comes with a price. Literally.

Because the insurance companies have decided to issue life insurance policies with no exam, they are taking on a higher risk profile for their product line. Because of this, they offset their risk with higher premiums. As with any insurance, higher risk means higher premiums.

There are still health questions required, and those questions cover some of the bigger risks. If you have cancer, heart disease, or another more serious health condition, you won’t be able to apply. By not allowing these types of conditions, they are limiting their exposure to some extent.

Yet, there are still smaller risks they aren’t able to watch out for by not completing a full medical exam. As with any other thing in life, you’ll end up paying the price for convenience. Depending on your age and how much you’re appying for, it could be quite a bit more expensive.

Another drawback is the actual amount you can apply for. In an effort to limit their risk beyond health concerns, insurance companies have put a limit on how much coverage you can even apply for when you’re looking to skip the exam piece of the underwriting.

If you need, say, $500,000 or a million in coverage, you are probably stuck with completing an exam. But, if you are only looking for $250,000 or less, you will likely have a few options to pick from from multiple carriers.

Where To Find No Exam Life Insurance

There are a lot of life insurance companies who offer a plethora of types of insurance, but not all offer no exam life insurance policies. The companies who specialize more along the lines of term insurance are more likely to have it.

The easiest, and probably the most efficient way to find it would be to use an online quoter so you can shop multiple carriers at once. Your next best bet would be to call a local independt agent who can do this for you.

It may not be a bad idea for you to browse some regularly underwritten term life insurance policies as well, so you can see how much money you might be able to save if you opt for a medical exam. You might find it’s substantial enough to undergo the extra exam process, especially if you are going to be paying a higher premium for 20 or 30 years.

Sample Premiums Of Life Insurance Without Medical Exams

For this example, we’ll use a healthy male who is 35 years of age, looking for $250,000 in coverage.

• For a basic 30 year term policy, his premium would be $248* per year.
• For the no exam term life insurance policy, it is $575** per year.

As you can see, there is a large difference in the premiums. The no exam life insurance policy is more than TWICE the premium. While $575 is still a small premium for $250,000 in coverage, you’ll pay an extra $9,810 over the life of the policy.
The difference in premiums can vary on a few factors:

• Age
• Coverage Amount
• Duration
• Gender

For the most part, you can expect to pay 50% to 100% more in premium on average should you qualify in great health for a normally underwritten term life insurance policy. If you are not in superior health, but can still answer the health questions without raising a flag for a no exam life insurance policy, your premiums will be much more comparable.

Let’s say for example the same 35 year old male was only able to get a standard rating. His premium would have been $492+ for the normally underwritten option. Using this health rating, the no exam life insurance policy is only $83 more in difference. Now, the price of convenience is not so substantial. But again, over the life of the policy, you’re talking about $2,490.

In the long run, going through the medical exam can save you premium, but if you absolutely don’t want to go through the process, and you’re okay with higher premiums like these, you’ll be happy to know you have plenty of options.

How To Apply For No Exam Term Life Insurance

Believe it or not, you can apply for no exam term life insurance in about 10 or 15 minutes. It’s an easy process, and can be completed online. No need for a lengthy interview or dealing with setting appointments for a local agent to come see you. Let alone the nurse!

TheLifeInsuranceBlog.com has excellent no exam life insurance, and will give you results very fast for multiple carriers and multiple durations of coverage.

Once you found a premium you can afford from a company you are willing to apply with, the application is on-site. You can go through the application right there on the spot, and be approved much more quickly than the traditional life insurance application process.

Of course, double check to make sure the information you entered is correct, and you’re on your way to having life insurance in no time.