Equote - David Livingston

Most types of life insurance require a complete medical exam to be undergone before the underwriting process begins and the policy is issued. However, these days, a new trend is emerging to suit those who hate undergoing medical tests only for the sake of obtaining an insurance policy.  These people can go in for a term life insurance no medical that will be issued without any need for a health exam.  This makes it easy not only for those who are afraid of undergoing tests but also for those with some potential health issues or pre-existing medical conditions which disqualifies them from getting a regular insurance policy.

A life insurance quote on line will provide you with many such plans that can be got without a medical exam.  These policies are however not cheap since the death benefits are less and the premium rates are higher.  This is mainly because the insurer will try to protect his interests in case the insured dies soon after taking the policy due to some illness.  Even if, the beneficiaries can only get a cash value payout two years after the policy comes into effect.  If the insured dies within the first two years, the insurer is under no obligation to pay any death benefit.  

Like types of plans, the rates will be less for young and healthy. However, they can opt for a traditional policy after undergoing a medical exam. It means that they can get cheap life insurance, higher coverage and for a longer period of time. Some insurance companies offer a special no exam term insurance policy for senior citizens over 50 years of age. This offers a simple policy with less death benefit that covers final expenses.

One has to answer some of the questions that can be asked on for a no medical exam plan that include:

Age

Gender

Past medical history

Cholesterol levels

Blood sugar levels

Nicotine habits

Height : Weight Ratio

Apart from these questions, some companies can even ask for a mouth swab and blood work to be done. Usually questions on familys medical history will be asked since certain life threatening diseases like breast cancer, diabetes, heart disease are all hereditary.  

If your father or mother suffers from or died from a heart ailment, you may also suffer from the same condition later in life.  So, even if you are currently young and healthy and apply for a no medical exam policy, the insurance company will study your lifestyle very closely.  If your weight is normal, if you exercise regularly and do not drink or smoke, your insurance rates will be cheaper even if you have a family history of heart disease.  

If you are obese, drink and smoke, even a no medical exam can be denied to you. This is because, your unhealthy lifestyle plus your family history of heart disease makes it highly likely that you will die young. The insurance company will not take the risk of insuring your life. Similarly, a person with a family history of breast cancer will need to undergo periodic tests and provide a clean bill of health to qualify for any type of life insurance. 

Even for no medical exam insurance, you maybe asked to provide some supporting documents to show that you are free from breast cancer and are leading a healthy lifestyle. You must be honest when answering the questionnaire since companies have a way of finding out the past medical history of a person.  If at that time they find out some serious illness, they can end the policy at once. All the premiums paid up to that point will be lost too.

If you really want instant term life insurance, then you must be in good health. Your health questionnaire should reflect your good health. In such ideal cases, the insurance company can complete the entire application process online so that you can get a plan approved within a few hours. This is a great boon for the professionals who do not have the time or interest in undergoing medical tests and yet want protection for their family. Hence, a no medical exam term life insurance can be considered a great time saver.