Affordable No Exam Life Insurance

Avoid the medical exam with simplified issue life insurance

Very few people would disagree that everyone should protect their family and purchase an adequate amount of life insurance. But many people dread the thought of going through the inconvenience of a medical exam to qualify. Many companies require that you meet with a nurse who will check your vital signs and collect a blood and urine specimen. If this sounds like too much trouble for you, then consider no exam life insurance, also known as simplified issue life insurance.

The medical profession is not immune to advances in information technology. Today, with your consent, an underwriter can access the Medical Information Bureau (MIB) while speaking with you on the phone. The MIB is much like a credit bureau for information about your health. Insurance companies deposit records into the MIB just as your creditors update the credit bureau with your financial information. Underwriters can also access a data base of prescription medications that you take or have taken.

Purchasing a no exam life insurance policy has never been easier with these tools. Simplified issue life insurance is most common when you are looking to purchase less than $250,000 in coverage. If you are trying to secure large sums of life insurance, no exam life insurance may not be your best option. Insurance companies will be much more diligent when you’re looking for a policy in excess of $500,000. In this case, especially if you are in excellent health, you may want to demonstrate your insurability to get the absolute lowest rate.

Don’t let pre-existing conditions stop you

Many people assume that because they have a pre-existing condition, they will not qualify for a no exam life insurance policy. At Live Oak Insurance Advisors, we have several well respected companies that will approve many clients that have had difficulty buying life insurance in the past. It’s not uncommon for a diabetic, for instance, to purchase a face amount of $200,000 no exam life insurance.

Older clients qualify as well. Some carriers will approve no exam life insurance up to age 85. Generally an applicant up to 70 years old can still qualify for a term insurance policy. As with any type of life insurance, the younger and healthier that you are, the better the rates.

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