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There are a couple types of "no exam" life insurance. Basically, there's the regular no exam insurance also known as simplified issue insurance and then there's guaranteed issue no exam insurance.
If you can qualify for the good no exam rates and you don't want to have an insurance exam with blood test, urine specimen, ht/wt check, etc., then your best bet will be the regular no exam life insurance. These rates will always be higher than the exam required rates, since these companies know they'll be getting some unhealthy people along with the healthy ones. So everyone pays more because of this fact.
When considering price, the best "no exam" rates are about equivalent to the "Regular" or Standard "exam required" rates. So if you're in decent health and can deal with having a free insurance exam, which can be completed at your home at a time that is good for you, this will be the way for you to get best rate possible.
Many people have a misconception about life insurance that does not require an exam and assume it's easier to qualify for than the exam required coverage, but this is not always the case. We've had many cases in which clients have been declined for the no exam rates and then were able to qualify for coverage that did require an exam.
The best no exam rates do require you to answer health questions on the application. In addition to that, these co's will also run a department of motor vehicle report to check your driving history, they'll do a pharmacy records search to see what medications you take or have taken in past and they'll check the MIB (www.mib.com) to check your life insurance application history to see if there were any health or other issues that turned up on past applications.
In the event of your death, the good no exam rates will pay out the full life insurance amount to your beneficiary right away.
There are also some simplified issue and guaranteed issue types of no exam insurance that will not pay the full life insurance amount to your beneficiary until the policy has been in force for a full 2 or sometimes 3 year period. These type of no exam policies are only for people that have or have had more serious health issues, like heart disease, more recent cancer's, Type 1 diabetes and others that won't qualify for the better no exam rates that payout full amount right away.
Most people with more serious health issues will be better off applying for the exam required rates that will also pay out full insurance amount right away, if they can qualify. If your health issues are more serious and you cannot qualify for any exam required insurance, then guaranteed issue life insurance will be your only option.
We can offer you the best no exam rates or the best rates that do require an exam. So just gives us a call or make a quote request on the upper right hand side of this page and give us your # and email address and we'll get you the best rate possible, whether it requires an exam or not.
