How to Get No Medical Exam Life Insurance Hassle-Free?
- How to Get a No Medical Exam Life Insurance Hassle-Free?
Acquiring no exam life insurance can be a tedious process for anyone as there are lots of processes involved before you can get one. It is good to know that one can apply for a no medical insurance policy and get the coverage that they need in no time. Contrary to most insurance think that people will try to cover up their actual health condition, this is not the real case for many. This is the reason why many insurance providers will dig deeper into your medical records and family history to find out how risky you are as a client.
One of the most time-consuming processes is the medical exam. It will take one whole day to finish all interviews, background checks, and medical examinations that include urinalysis, fecalysis, saliva testing, CBC, and even ECG to know the condition of your heart.
Another long waiting game awaits you before you get the result. It will be sent directly to the insurance provider. There are cases when it can be denied because something unexpected came up with your medical result.
This is the reason why many people seek no medical life insurance to cut off the time consuming process and stay away from stress. It is good to know that there are providers that can offer life insurance policies in less than a day. All you need to do is to fill out an online survey and you are on your way to getting the insurance that you need.
How No Medical Exam Life Insurance Can Help You?
- For immediate needs. Families who need immediate life insurance in the case of childbirth can apply for it.
- For busy working people. Working individuals can apply for it in less than a day.
- For people with a fear of needles and blood.
- For a healthy individual with no underlying medical conditions.
- For those who are not looking for a large amount of coverage. If you only need less than $500,000, then it is the best option for you.
- For people who do not take a visit to a doctor for almost three years.
- For people with a lapsed policy can quickly renew their life insurance coverage.
- The business operator who is applying for small business loans can be easily approved.
- For those who need it to settle a child custody case
Timeframe for No Medical Exam Policy
Depending on the insurance provider, some may accept electronic signatures. Always ask your agent about special requests to find out if you can get on the same day. Many companies will do a brief interview done by an agent called the underwriter. If in case there are apses on your documents and information during the interview then it may take 1 to 4 weeks. However, it is still faster compared to the traditional process that can last for 6 weeks.
If something fishy comes up in an initial review of your information, an underwriter will conduct a more thorough investigation to see how risky you are to insure.
There are red flags that you need to keep in mind so you can avoid them as much as possible.
- People with a lot of medications and criminal records may experience a hard time applying for life insurance no exam.
- Also, people with a current record of bankruptcy, and travelers who visited unfamiliar un-safe places are deemed risky for many insurers.
It does not mean that you will not get the insurance that you need, but the underwriter needs enough time to review your records.
Tips on How Underwriters Review your Records
- They make use of all the details and information written on the Medical Information Bureau. Some of the important information listed is health conditions, prior application of other life insurance, and other threatening activities. They will use the record to validate your answer from your application form.
- If you have a clean driving record with no record of road accidents.
- They can on your pharmacy records to know your old medical prescriptions to know if you are high risk or not.
- Some may also check with the LexisNexis to find out a record of bankruptcy that you failed to disclose on your application form.
Checking these records may take time because they need to contact different agencies to do a background check.
Cost of No Medical Life Insurance
The premium that you need to pay is almost the same as with regular life insurance, but the provider may limit your maximum coverage. The good thing about this is the fact that most insurers charge a similar rate for both. However, the monthly premium may differ depending on the information that they will gather.
You may choose to fill out our quote and apply online platform to get an instant quotation. This will allow you to find out the possible amount that you need to pay before applying for one. However, bear in mind that this is not the final amount that you need to pay as some other factors may affect the rate. People with a long history of a medical condition and bad habits like excessive drinking and cigarette smoking can increase the monthly premium.
Today, it is good to know that the popularity of this type of life insurance plan made the pricing competitive in the market.
Applying for a No Medical Exam Policy And What to Expect?
After knowing all the positive and negative sides of no medical life insurance, you are now ready to apply for one. There is no need to undergo all the fuss of traditional application.
- Go to a reputable insurance provider and fill out an online quotation.
- Talk with a legitimate insurance agent to find out the best coverage that is according to your needs. One could reach Coach B., at (800) 342-1537.
- Complete a health questionnaire form for the provider to know more about your medical history.
- A few of the providers online can offer same day approval, or it could take up to 4 weeks if it needs to be seen by an underwriter. But make sure to carefully read and review all the details written in your policy before signing.