Picking a life insurance policy can be as difficult as picking a house. There are so many factors to consider.
Aside from being confusing, it can also take a long time with dozens of hoops to jump through.
If you want a quicker, easier, and simpler option for life insurance, no exam is for you. Once upon a time, no exam plans were too expensive to be a viable option.
Now, more and more companies are selling affordable no exam choices. We get a lot of questions about the no exam life insurance process, so this article is here to answer all your questions.
Applying for No Exam Life Insurance
With a no exam plan, the insurance company there is no health exam, but there are still going to be a few hoops that you have to jump through before you have life insurance.
One of the most significant parts of the application process is going to be the phone interview. The insurance company is going to schedule a phone interview, and they are going to ask you dozens and dozens of different questions. They are going to ask you a ton of questions about your current health and your family history. They are going to get as much health information as they can, without requiring you to take the physical. Every insurance company is different, but the majority of insurance interviews are going to last around an hour.
During the interview, they are going to ask if you’ve ever been diagnosed with any severe medical conditions, like heart disease, diabetes, any sexually transmitted diseases, and much more. The goal of the phone interview is to get an idea of how much risk you are to insure. The more risk that you are (, the worse that your health is) then, the more that they are going to charge you for your insurance protection.
Aside from the phone interview, and the barrage of questions, the insurance company is also going to look at some of your records to give an idea of how much they should charge you for your coverage. They will pull your prescription history for the last five years.
They are also going to review your Medical Information Bureau records that will show any results of medical tests that you’ve taken in the past. This will give the insurance company an idea of what your health has been in the past and might reveal any significant conditions or health problems that you’ve had in the past. Because you are not required to take a medical exam, the company won’t get a current view of your health, but they will see any results from the past.
While most applicants don’t realize it, the insurance company is also going to review your driving records. If you have any DUIs, accidents, or speeding tickets on your record, then you’re going to pay more for your insurance coverage versus someone that doesn’t have those marks on their records.
Getting Cheap No Exam Life Insurance
Life insurance without the physical exam is going to be more expensive. It’s a fact of life. Without the exam, insurance carriers are wary of giving cheaper rates.
Even though it’s more expensive, there are still policies which are going to be cheaper or more expensive, you need to find the ones with the lowest premiums.
The best way to get cheaper premiums on your no exam plan is to quit using any tobacco. Exam or no exam, smokers are paying more.
The best way to secure a cheap policy is to find the carrier with the lowest rates. There are more and more carriers who have started selling a no exam option. But not each company sells quality products at a price you can afford.
We know you probably don’t want to call all of those agents. You don’t have to.
We can be your personal no exam experts. through the years, we’ve sold TONS of no exam coverage.
We know the companies who are going to give YOU the best no exam life insurance without having to empty out your bank account.
Questions? Ready to get no exam protection? Go ahead and call us or fill out the form.