Getting Life Insurance Without a Medical Exam

When applying for a standard term life insurance policy, you’re required to take a brief medical exam so the insurance provider can determine the status of your health, and therefore how much your premium will cost. However, for those who do not wish to take a medical exam and/or do not have the time to wait for lab results before buying a policy, you have the option to buy no medical term life insurance. 

Whether you choose standard term life insurance or no medical term life insurance, you will still get the same coverage for the term of your policy. So, what are the differences? Let’s take a closer look. 

Standard Term Life Insurance 

You will need to take a medical exam to record your BMI, blood pressure, blood and urine samples, medical history and lifestyle. The exam is paid for by the insurance provider. 
 
Underwriting may take a few extra weeks to allow the review of your lab results and medical records. 
 
Many insurance providers offer this type of coverage, making it easier for you to find a great deal with the help of your independent insurance agent. 
 
With proof of your good health, you can often find more affordable rates. 

No Medical Term Life Insurance 

Because there is no medical exam or medical records necessary, the whole application process can be completed electronically within 24 to 48 hours. 
 
Fewer insurance providers offer this type of coverage. Luckily, your agent can help you find a good policy if this is what you’re looking for. 
 
Because the insurance provider assumes more risk in insuring an individual that they cannot prove is in good health, this type of coverage is often pricier. You may also find that you’re limited in the amount of coverage you can purchase. 

Which type of term life insurance is right for you? Think about whether or not you’re in a rush to get a policy and whether or not you’re opposed to taking a medical exam. Then call your agent for help searching for the right policy. 

We’ve got you covered. Call McDonald Insurance Group at 303-957-1742 for more information on Littleton, CO life insurance.