No-Medical Life Insurance

With so many demands on your time, have you gotten around to getting life insurance yet?  You’re not alone.  According to a recent life insurance ownership study, 60% of the population that wants or needs to have life insurance hasn’t done it yet either!  One way to get the life insurance coverage you need could be no-medical life insurance. 

It’s much easier to apply for a no-medical exam policy; usually you just complete a health-status questionnaire which asks about your health, medical history and conditions.  Frequently it can be approved within just a few weeks, which is much shorter than policies which require time for review by a medical insurance underwriter.

There are a few important things to remember if you choose to pursue this type of policy. 

- Generally the amount of coverage is limited to $100,000 maximum, which is a much smaller amount than what’s available through policies that require a physical. 

- If you have withheld medical information, the life insurance company has the right to cancel your policy or refuse to pay if you try to file a claim too quickly after purchase. 

- Folks in special circumstances, such as over 50 or with high risk hobbies may not be offered coverage.