Term Life No Exam
Learn about term life insurance no exam required
What is term life no exam?
It's a type of term life insurance policy available that does not require you to take any physical exam in order to qualify for coverage.
In the past, you had to take a medical exam and blood tests in order to apply for life insurance - depending on your age, and the amount of life insurance you requested.
The entire process from meeting with an agent, getting quotes, applying for life insurance, taking a medical exma, getting the results, getting approved, and receiving your life insurance policy used to take 6-8 weeks.
Now, you can get a quote online, apply for life insurance, get approved, and begin your life insurance coverage the same day, if you qualify.
How is this possible? This is the way of the internet. The technology of the internet, combined with increased efficiencies, and competition, has made it possible to get term life insurance with no exam online.
What's the catch? There are a couple drawbacks:
1. The coverage amount available may be limited to $500,000.
2. The premiums may be higher than for fully underwritten life insurance requiring a medical exam.
What are the advantages of no exam term life insurance?
There are a few advantages including:
1. Same day approval, if qualified.
2. No need to meet with an agent.
3. No medical exam required.
4. No long delays.
5. Up to $500,000 of term life insurance.
Term life insurance is temporary life insurance for 1-30 years. Many policies are issued for 10, 15, 20, or 30 years.
Level term life insurance provides guaranteed level rates and coverage for up to 30 years.
Term life with no exam may be available with level term rates for the entire term of your policy.
Source: Term Life No Exam