Life Insurance with No Underwriting

When you apply for life insurance, the insurance company is going to look at dozens of different factors when they are deciding how much they are going to charge you for insurance protection. Two of the hoops that you’re going to have to jump through is taking a medical exam and answer health questions. For people that are in poor health, then the medical exam and the health questions could pose a lot of problems.

After you’ve taken the medical exam and answer all of the health questions, the insurance company is going to run all of those results and information through their medical underwriting. They are going to use all of that information to decide if they are going to accept your application or decline you for coverage. Additionally, they are going to use it to decide how much they are going to charge you every month.

Avoiding the Underwriting

life insurance with no underwritingDepending on the medical underwriting of the company and your health, there is a chance that you could get declined for insurance coverage. Luckily, there are several types of life insurance that you can buy without having to go through the medical underwriting process. For some people, this could be the best option for getting protection.

One option for coverage is to purchase a life insurance policy. As you can guess from the name, these plans let you purchase life insurance protection without having to take the medical exam. For some people that aren’t in perfect health, then this can prevent the insurance company from getting a current picture of your overall health. That means that your health isn’t going to affect your rates.

Another way that you can skip all of the medical underwriting is to purchase a guaranteed issue life insurance policy. With these plans, everyone is accepted for life insurance protection, regardless of health or any pre-existing conditions that you have. These plans don’t require any health questions or medical exams. Not only can you get life insurance without the medical underwriting, but you can also get approved for coverage much faster. If you want to get life insurance as quickly as possible, then a guaranteed issue plan is going to be the best option.

Advantages and Disadvantages of a No Exam Life Insurance

While skipping the underwriting seems like the best option, there are several pros and cons of these no exam and guaranteed issue policies that you should be aware of when you’re shopping for insurance protection. Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s one of the only ways that you can ensure that your family has the money that they need, regardless of what happens to you.

One of the obvious advantages of these policies is that you can skip the medical underwriting, which means that you won’t be declined if you’re in poor health. It’s vital that your family has life insurance, and any pre-existing conditions shouldn’t keep you from getting the coverage that they deserve.

Another benefit is how quickly you can get approved. With a traditional policy, you could wait weeks and weeks to get life insurance. In some cases, you could wait up to a month and a half. With a no exam plan or guaranteed issue policy, you can be approved in a matter of days. With some plans, you can get life insurance in a matter of hours.

On the other hand, there are some serious drawbacks of these plans as well. For example, they are going to be significantly more expensive than a traditional plan that requires all of the underwriting. The purpose of all that medical underwriting is to give the insurance company an idea of how much risk that you are for coverage. Without all of that information going through the underwriting, the insurance company is going to offset the additional risk by charging you much higher premiums.

Another pitfall of the plans is that you’re going to be limited on how much coverage that you can buy. If you want to skip the medical exam, you’ll only be able to purchase around $500,000 with some companies. Most companies will only let you purchase as much as $250,000. For most families, this isn’t nearly enough insurance protection. Not having enough life insurance is one of the worst mistakes that you could ever make for your loved ones.

If you have any questions about getting life insurance without having to go through the medical underwriting, please contact one of our agents today. We would love to answer those questions and ensure that you’re getting the best plan possible. Unlike traditional insurance agents, we are a group of independent insurance brokers. That means that we don’t work with one single insurance company. Instead, we work with dozens and dozens of highly rated companies across the nation. We know which companies are going to give you the best rates possible, regardless if you want to go through the medical underwriting or skip that process.

Every insurance company is different, and all of them are going to give you drastically varying rates depending on the company that you contact. Finding the perfect company is the difference in getting an affordable policy or getting one that’s going to break your bank every month.

You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer. If something were to happen to you, and you didn’t have life insurance coverage, your family would be left with a massive amount of debts and other final expenses. Don’t wait another day to get the life insurance protection that your loved ones will needs.


Susan Wright holds a BA from Michigan State University and an MBA from St. Louis University. Having over 20 years of working experience in the insurance and financial services industry, she has trained more than 10,000 financial services representatives. Susan has had licenses in real estate, insurance, and NASD Securities, and she has earned nine industry professional designations, including CLU, ChFC, RHU, REBC, CSA, CLTC, CCFC, CSS, and ADPA. Read more about her on Google+

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