What is No Medical Life Insurance?

Posted February 2 2021


Parents carrying kids, playing on meadowWhat is no medical exam life insurance?

No medical life insurance is a life insurance policy that does not require an individual to go through the medical screening process to be approved for purchase. According to Forbes, “Over the past decade, more and more insurers have stated offering life insurance policies that don’t require medical exams.” This may seem strange, as you would l think that insurers would want to have as much information as they could obtain about you before deciding whether or not to insure you, however many people are turned off by having a stranger come examine them in their home (or elsewhere) in order to be approved to make a purchase. Also, insurance companies have access to health records through the Medical Information Bureau (MIB) and other resources to make an overall decision on the risk that you may present to them.

What is a life insurance medical exam?

The medical exam associated with life insurance is part of the underwriting process and is usually a simple medical screening, but can be more involved, especially for older applicants. The exam can take up to an hour or more and will check your height, weight, blood pressure, and include a blood and urine sample. The exam will look to confirm that your vital signs are where they are supposed to be based on age and look to confirm whether or not you may pose a higher risk in terms of overall health. It is part of the underwriting process, where the insurer decides how insurable you are, much like the lending process of trying to qualify for a loan.

Who benefits from not having to take a medical exam?

Not having to take a medical exam benefits people who are concerned about having an unknown medical examiner come to their home, or who are simply looking to save time. It can offer quicker coverage without having to go through the typical full underwriting process.

What are the pros of no medical life insurance?

· Quick approval

· Good coverage

· No need to go through invasive screening process

· Transparent pricing

What are the cons of no medical life insurance?

· Coverage amounts are limited

· Can only obtain a term policy limit of 20 years

· Fewer policies to choose from

· Higher potential premiums than policies that require medical exam

Do you want to leave more to loved ones? Cover potential loss of income to the household? Then you will need to account for your debts and add more coverage beyond them to leave a legacy. Our experts can help you formulate what amount would be best for you in your situation and budget in this case, or any case for that matter. Contact us today at 954 828 1819 or visit us online at mhginsurance.com for a quick and easy quote!