Regardless of how old you are, it’s possible to get affordable life insurance coverage. Meaning you can access up to 95% of your entire death benefit if you have any of the following: These critical illness benefits provide families peace of mind and that’s why Phoenix Life is a very popular choice to consider when comparing no exam and guaranteed issue life insurance carriers. Give us a call at 888-552-6159. Each rate shown is a quote based on information provided by the carrier. Every insurance company is different, but the majority of insurance interviews are going to last around an hour. As a senior looking for life insurance, you don’t want to have to worry about a medical examination. They offer life insurance coverage protection ranging from $25,000 to $1,000,000 depending on your health and age. Very niche carrier, but can help those between ages 25 and 45 that couldn’t otherwise qualify for coverage. They continue to hold an excellent A+ rating from A.M. Best and have almost no major complaints from their customers. If you’re between 45 – 85, then you can qualify for one of their plans, but you can only buy $10,000 worth of coverage. 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. One of the drawbacks of Assurity is that it’s going to take a lot longer to get through the medical underwriting. Assurity Life 3. Number crunching is key when calculating the face value needs of your life insurance policy. Purchasing 100k life insurance with no medical exam is probably one of the best moves you will be able to make. 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. You can choose either a No Exam Term Life insurance, or a Permanent No Exam Life insurance policy. Signatures are completed via an email electronically. Their Term Made Simple plan is one of the most popular options for no medical exam coverage, and it could be one of the best options for you. Faster approval does … Life insurance is the best safety net, but your plan shouldn’t break your bank every month. Today, there are numerous types of life insurance coverage on the market. By not requiring a medical exam, simplified issue life insurance offers a faster application process than traditional life insurance. He wanted to offer his clients more options and help them get the most affordable coverage possible, and that gave him the motivation to become an independent broker. When people think of no health exam life insurance policies they often think it automatically means no underwriting and no medical history or records. Usually, there is a 2-3 year period before you can receive the full death benefit. The premiums are competitive and coverage starts as low as $25,000. Assurity Life Insurance. No Exam Company Guide. Final expense insurance is a type of no medical exam life insurance that needs to be qualified for, similar to simplified life insurance. It’s been very hard to get this .. please help if you can.. Those hospital expenses can cost your family hundreds of thousands of dollars. Rita, One of the most popular choices is their Simple Term life insurance policy, which only requires that you answer a few questions to have life insurance coverage. Through the years, we have seen a lot of life insurance mistakes. Applying with no exam gives you peace of mind that no matter what, you’re covering your loved ones with life insurance. This article will discuss those options as well as some average costs for life insurance that doesn’t require a medical exam. If you’re at a stage of life as a senior where nobody relies on your salary, then you won’t have to worry about loss of income after your passing. The first one that we will look at is the Rapid Decision Express policy. Even if you have diabetes, asthma, Hepatitis C, or another pre-existing condition, Transamerica may still issue you a term life policy. There is usually a maximum coverage amount of $50,000 for guaranteed issue and about $250,000 for simplified issue. Someone Purchasing An RV The average price of an RV in the United States is around $100,000. The good news is that there are several options available. Here is an overview of life insurance options for seniors, along with each option’s pros and cons. 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. One interesting note about Haven Life is they are backed and owned by MassMutual. Also, this is a paper application. Do you currently reside in a long-term care facility or hospital? People 50 and older can buy up to $100,000 of AARP’s no exam term life insurance after answering a few questions. Term life insurance through Haven Life provides some of the cheapest quotes for seniors but has more restrictive eligibility when compared with other companies. The cost of no exam life insurance will always be higher than those with a medical exam. Yes, Sagicor offers the following life insurance policy riders: Quick Tip: You can get instant quotes for Phoenix by filling out the instant quote form on the side. This is the highest amount of life insurance with no physical that can be obtained on the market today. Before we go into the best no medical exam life insurance companies, it is important to get an understanding of the different types of no medical life insurance policies that are on the market. Yes, Principal offers the following riders: Foresters has offered quality coverage for many years, but they have recently added new no exam options. As long as you don’t have cancer, leukemia, recent stroke, heart attack, coronary artery disease, heart surgery, COPD, emphysema, HIV/AIDS, hepatitis, cirrhosis, drug problems, or have been hospitalized in the last 90 days – you’ll qualify for coverage. What does lifetime mean, the different years 10, 15 etc. However, they have a guaranteed issue product for those between the ages of 25-80. They created the Principal Accelerated Underwriting program, which cuts down the length underwriting process down to 2 days or less. Also, depending on various factors, including your selected company, you can get life insurance without a medical exam up to $1 million. Best Life Quote | Life Insurance Brokerage, over 60 to obtain affordable term life insurance. This is because a Haven Life term policy is only available if you are under 64 years old and there is a maximum death benefit of $1 million for anyone over the age of 60. A no exam Life insurance policy is granted based only on the answers you give in the application form. Helping senior applicants choose a great plan to meet their needs is what we do best. Sagicor has a well-earned reputation for underwriting professionalism, competitive pricing and numerous no medical exam policy options for both term life and universal life insurance. It’s a reliable and stable company. This makes them one of the best-guaranteed issue life insurance carriers on our list. This type of coverage, available through AIG insurance companies, does not require a medical exam or a coverage waiting period. Your no exam term life insurance policy could be implemented within a couple of days to several weeks. Please note: your age will determine how much life insurance you can conveniently purchase online. Any history of cancer, stroke or heart issues? At first glance, this type of insurance may appeal to you. The companies we have reviewed are all excellent in their own regards and we are confident they will be an excellent solution for your insurance needs. With some guaranteed acceptance life insurance policies, no waiting period is necessary. Reach out to one of our agents, and we will handle any of your insurance needs. Remember, there’s always an option. MetLife Insurance Company is also known for providing reliable, affordable life insurance insurance to seniors. It simply means there is no medical exam required. For no additional costs, Forester pays 1% of the face value to a registered charity that you will denote when you buy the policy. Not only are they a stable company, but have employed financial research to craft a no medical exam option that could be perfect for you and your family. Gerber is one of the few guaranteed issue life insurance carriers on our list. Rates never change for the life of your policy. Generally, you must be in overall good health to qualify for a no exam life insurance policy. Other companies may approve people for life insurance who are over 50 but may shy away from a life insurance policy for a 67 year old. If you’re in very bad health, there’s guaranteed issue life insurance carriers with no questions asked. Transamerica offers several different options for life insurance with no physical required. What makes Haven Life stand out is how much coverage you can buy without having to speak to an agent on the phone or in person. Recently, however, numerous new policy options have been developed – some that have changed the life insurance qualification process. A series of questions will be asked, which determines whether or not you will qualify for coverage. By not requiring a medical exam, simplified issue life insurance offers a faster application process than traditional life insurance. You must mail the application back to your agent as they’ll need a wet signature. Reasons to Get a No-Exam Life Insurance Policy. This type of life coverage can cover expenses such as outstanding debts and funeral expenses and … Like most companies on this list, they offer two main options for a no medical exam insurance plan, a term plan and a whole life insurance policy. They also hold a rating of A- from A.M. Best Life Insurance Ratings company. We’ve researched them in depth and are comfortable recommending them. No blood test nor urine specimen required. You’re probably familiar with MassMutual, as they’ve been selling insurance for over 160 years. With these policies, the first two years are going to have limited benefits, but after those two years, the plan will offer you full coverage. This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period. People as young as 45 can buy no exam whole life up to $50,000 after the same application process. According to many independent life insurance agents, Guaranteed Universal Life Insurance (GUL) is the best option for a life insurance policy for seniors over 70 … They later expanded their business, continued to grow, and eventually made the shift to Fidelity Life. Calculate any outstanding mortgage and car loan payments so that your loved ones will not have to worry about paying them off. What Is No Medical Exam Life Insurance? These are some typical features of this kind of no-exam life insurance for senior citizens: Face values typically range from about $5,000 up to as much as $35,000. The most notable advantage of this plan is that it’s guaranteed acceptance, which means that you’ll get be approved, regardless of your health or any pre-existing condition. When it comes to life insurance without exams, Phoenix is one of the quickest and easiest life insurance providers to work with. The LifeVue whole life insurance plan can get you the same coverage if you’re between 50-80. Should you need more substantial coverage, you’ll need to undergo a … The truth is … Note that all of these policies are for someone who is in the regular health rating, seeking $100,000 in no medical exam life insurance coverage. With Foresters, you can buy $400,000 worth of no exam term life insurance. Copyright © 2016 InsuranceScored.com - All rights reserved. Haven Life. Simplified issue life insurance policies are still no exam life insurance policies, but are a step up from guaranteed issue policies in terms of the underwriting process. No Medical Exam Life Insurance for Seniors Over 70. The older you get the harder it gets to find affordable life insurance. Coverage of $25,000 is obtainable with a no medical exam whole life insurance policy for seniors over 75. It’s important to keep in mind that different companies have different approval policies. Find out which is right for you today. Simplified issue products usually limit coverage to $500,000 or less. With that being said, there are a few options. Whole Life insurance can protect your family for a lifetime, as long as premiums are paid. Her goal is to give professionals credibility and assist in streamlining the sales process. 1. With guaranteed issue whole life insurance, you can avoid having to undergo a medical exam as part of your insurance application process. Yes, Assurity offers the following life insurance policy riders: Principal Life Insurance company has superior ratings from all of the different financial rating companies, including an A+ from A.M. Best, which means they have a stable financial outlook going forward. It’s written through the Health Depot association so you get other benefits as well. People in … Also, depending on various factors, including your selected company, you can get life insurance without a medical exam up to $1 million. These plans are not very common, and they are going to be more expensive than a plan with a waiting period. This type of insurance is costly, and there is a 24-month waiting period after the policy is initiated before coverage actually begins. They would do this so their families would get the money from the policy. We can probably find you a policy. What is the Waiting Period on a No Exam Policy? There are 10 year term life insurance policies as well as 15, 20, 25, and 30 year terms. Note: You may only purchase up to $25,000 of coverage and there’s a 2-year waiting period before complete benefits kick in: this is called the “graded” period. Rates start as low as $8.80 per month. Seniors in good health may also be able to get cheaper life insurance by passing a medical exam. There are no medical exams required for guaranteed life insurance at all. Guaranteed issue life insurance policies are implied in the name, they are guaranteed. The maximum coverage most companies offer for a no medical exam term policy is $1,000,000. Reasons to Get a No-Exam Life Insurance Policy. Many seniors prefer this kind of life insurance because it’s easier and less time-consuming to get, and because it’s an option if you have a pre-existing condition. This type of coverage, available through AIG insurance companies, does not require a medical exam or a coverage waiting period. No medical exam life insurance does not mean there are no medical questions. Let’s compare some no medical life insurance rates from companies like American National and Mutual of Omaha, to give you an understanding of how much no medical exam life insurance policies cost. Choose $3,000 up to $25,000 of coverage. See our in-depth guide about life insurance without the medical exam. However, there are still a lot of options that you can take advantage of if … New York Life’s life insurance policies through NYLAARP do not require a medical exam or a waiting period for your plan to kick in. If you’re looking for a stable company with a long track-record, look no further. It is possible, with pre-exisisting conditions, that you will still be approved. There are many seniors today looking for affordable life insurance, even after 80. These life insurance policies are often also referred to as no physical life insurance, no health exam life insurance, and no medical life insurance policies. They will pull your prescription history for the last five years. Other companies dispatch with a formal medical history but still ask a few basic questions, such as any pre-existing major illnesses and relatives with a history of cancer or heart disease. Susan Wright, CLU, ChFC, RHU, REBC, ADPA, CITRMS, CIPA has been in the insurance and financial field for over 27 years. With guaranteed issue whole life insurance, you can avoid having to undergo a medical exam as part of your insurance application process. Sagicor life insurance is a company that perhaps you do not recognize their name. The best way to qualify for no exam life insurance is to speak with an independent life insurance agent. Usually, guaranteed issue policies offer anywhere from $5,000 to $25,000 in coverage and rarely go higher than this. Life Insurance for Seniors Over 80 Helps In Paying Long Term Care: Learn How If you are a senior over the age of 80, considering a life insurance policy should be a priority. Permanent life insurance coverage is available from John Hancock up to age 121 and can be issued up to age 90. In 2017, the retail life insurance sales were spun off and now sold under the Brigthouse Financial company name. They’re higher priced because of their living benefits…and also their tolerance for higher risks. People as young as 45 can buy no exam whole life up to $50,000 after the same application process. Some carriers won’t accept you if you’re taking 2 blood pressure meds and a cholesterol medication because their underwriting guidelines won’t allow it even if you’re in great health and have it under control. Best Life Quote - Life Insurance Brokerage. Phoenix isn’t the cheapest, but it’s certainly not the most expensive either…which makes them a great choice for those with some controlled health complications. Another downside is price – you’ll be paying more than a traditional life insurance policy for these added benefits. Final expense insurance policies usually offer coverage up to $50,000 to $100,000 depending on the insurer. Completing an application takes less than 30 minutes – conveniently over the telephone while sipping your morning cup of coffee. No-medical-exam life insurance eliminates the full medical underwriting process to approve your life insurance policy. They hold excellent ratings from all of the third-party systems including an A from the highly regarded A.M. Best ratings company. The goal of the phone interview is to get an idea of how much risk you are to insure. The following provides an example of life insurance for a 65 year old male who doesn’t smoke and is applying for term insurance: These figures show that even a 65 year old can obtain affordable life insurance through Transamerica. Or just keep scrolling to learn all you need to know about no exam life insurance policies. These are the most expensive type of no medical life insurance policy because of the inherent risk associated with applicants. Your triglycerides, a1c levels, cholesterol or blood pressure could be problematic in securing affordable coverage. This type of no health exam life insurance is best for people who are in good enough health to pass a medical examination without being rated as high risk. As medical technology and our knowledge of the human body increase, people are living longer and longer. $50,000 of term life insurance that can be issued from age 16 to 45, with coverage to age 50 or 10 years after the policy is issued (whichever is later). I did smoke for years, felt the results in my breathing and recently gave it up as a birthday gift to myself. Their LifeVue term life insurance plan allows anyone from the age of 18-60 get up to $500,000 of life insurance. Most also have a 2-year waiting period, which means that if you pass away within the first 2 years, your beneficiaries will only receive a portion of your death benefit. The best product for you depends on a variety of factors – some life insurance products are cheaper but come with stricter limitations in terms of health pre-conditions (such as standard life insurance for seniors). With these plans, you can purchase $5,000 to $25,000 worth of protection for your family. The whole life guaranteed issue final expense policy has no medical exam and is available up to age 80 with a maximum death benefit of $20,000. According to many independent life insurance agents, Guaranteed Universal Life Insurance (GUL) is the best option for a life insurance policy for seniors over 70 … Bestow is 1 of the top life insurance agencies that does not require a medical exam. The company provides both term insurance, which covers people up to age 74 with a death benefit of $10,000 to $100,000, and permanent insurance. There’s no guarantee you’ll get approved. Life Insurance - Online Insurance Quotes In at the very least one case, an insurance provider which marketed a plan to a purchaser without any insurable interest (who later killed the CQV for the proceeds), was found responsible in court for adding to the wrongful fatality of the sufferer (Liberty National Life v. 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