Yes, you can get a life insurance policy without having to go through the exam process. Yes, you will pay a higher premium but that is the price you pay for the quick turnaround time of putting the policy in force. Read the article below to find out more…
Term Life Insurance with No Exam are types of policies that do not require you to have an exam to get formal offer from the carrier.The process is you will fill out an application and answer fairly typical health questions. |
The carriers underwriting staff will make their offer based off your application and by checking the MIB records for any major health history that could affect your offer. The benefits of purchasing this type of policy are almost immediate underwriting and issue of the policy and obviously no underwriting.The bad part is or course that you in most cases will pay quite a bit more in premiums for the coverage. |
Compare the premiums between both plans and if the convenience of getting an instant issue life insurance policy put in force out weighs a fully underwritten plan then maybe it’s right for you. But if you can wait four to eight weeks to save on paying up to 30-40% more than a fully underwritten plan then I suggest you wait. |
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