No Medical Exam Life Insurance

If you have ever watched a television commercial offering a no medical exam life insurance policy, you may have thought it was bogus, but companies can in fact, offer you a policy with no medical exam.

There are many companies to choose from and many offer both whole and term life insurance policies with no medical exams necessary.

Many companies such as Anico Direct do not require you to meet with a sales representative, but instead handle everything online. The company has been in business for more than 50 years and currently offers most of their services online. Many life insurance companies have followed suit with the dawn of the Internet, making it easier than ever for people to purchase affordable life insurance without a medication exam. These companies tap into the fact that many online purchasers come to the site on a whim and are likely to purchase a policy immediately. Those that plan for life insurance, will likely have gone to an actual office, sat down with a salesperson and chosen the policy that is right for them.

Still, others like the idea of not being bothered with a medical exam, even those that are in good health, simply do not want to take an exam for a variety of reasons. The online community of no medical exam life insurance is booming and more companies are moving to this venue as more people venture online for their life and health insurance needs.

Are These Types of Policies Just as Good?

Many people that have had life insurance in the past often wonder if one of these policies could truly be as good as one that requires a full medical exam. The answer is, yes and when you sign up for coverage, you are asked a few questions such as tobacco use.

Additionally, many of the no medical exam policies range between $250,000 and $500,000, but most do not go beyond this amount. Though this is normally adequate coverage for most people, because it covers the cost of burial expenses and leaves some left over for your beneficiary, which is useful if the beneficiary, such as a spouse is dependent on your income.

Simple term or whole life options are a great way to get life insurance quickly and without hassle. Make sure though you know the company's history when applying, you want to make sure they are stable and did not just open for business last year. After all, you will be making payments either monthly or annually, so choose a company with a good reputation. Research their financial stability and try to find out the A.M. Best rating, so that when you do sign up, you can have peace of mind knowing your policy is from a reputable and stable company. While the no medical life insurance companies have a maximum benefit amount of $500,000, some companies only offer $250,000, which still offers a good amount for most people.

Who is the No Health Exam Life Insurance for?

If your main concern is coverage for your family in the event of your death and you are not concerned about investments, the no medical exam insurance is probably your best bet. Those that are investment-savvy normally do not choose the no medical exam policies simply because they view life insurance as an investment opportunity and at the same time providing for their family.

Additionally, these policies work very well for people that cannot get a traditional exam-based life insurance policy due to medical issues. The main question the no-exam policies want to know is if you are a tobacco user. However, if you have a life long illness, such as Multiple Sclerosis, you may only be able to get a small policy or they may deny you completely. However, there are policies out there that cater to such people, such as Outlook Life Insurance Company that does insure people regardless of their current health conditions. Obviously, you may pay a bit more than someone with perfect health, but you can get the coverage at a reasonable cost.