Buy Life Insurance with No Physical?
The thought of getting a cheap term life insurance policy without having to submit to a life insurance physical is attractive to some folks. These days, a lot of people would rather protect their privacy. Others are attracted to the thought of getting covered without jumping through a lot of hoops. Finally, some people hope to cover up a medical condition, but that is the WRONG reason to apply for no medical exam term life insurance.
For one thing, insurers that offer policies without requiring an exam will check several sources to verify answers on a health application. These may include the Medical Information Bureau, credit bureaus, state DPS offices, etc. Many of these companies will request a doctor's statement if something on the application does not match up with answers on the application. Also, lying on a life insurance application is illegal and a bad idea.
Who Should Consider Term Life with No Medical Exam?
People who are average might find that the convenience of getting a quick application done online or over the phone is worth it. These companies do tend to charge a bit more for skipping the physical, so very healthy people might find that rates are cheaper if they just take the quick physical. A few dollars can add up over the years that an average person might pay premiums. People who have some type of pre-existing medical condition might find that they have a better chance to get a policy issued if they can make their case to an underwriter.
The thought of getting a cheap term life insurance policy without having to submit to a life insurance physical is attractive to some folks. These days, a lot of people would rather protect their privacy. Others are attracted to the thought of getting covered without jumping through a lot of hoops. Finally, some people hope to cover up a medical condition, but that is the WRONG reason to apply for no medical exam term life insurance.
For one thing, insurers that offer policies without requiring an exam will check several sources to verify answers on a health application. These may include the Medical Information Bureau, credit bureaus, state DPS offices, etc. Many of these companies will request a doctor's statement if something on the application does not match up with answers on the application. Also, lying on a life insurance application is illegal and a bad idea.
Who Should Consider Term Life with No Medical Exam?
People who are average might find that the convenience of getting a quick application done online or over the phone is worth it. These companies do tend to charge a bit more for skipping the physical, so very healthy people might find that rates are cheaper if they just take the quick physical. A few dollars can add up over the years that an average person might pay premiums. People who have some type of pre-existing medical condition might find that they have a better chance to get a policy issued if they can make their case to an underwriter.
