Life insurance that requires no medical exam is available from almost all of the many excellent insurance companies that are in business today. The majority of the “No physical exam required” insurance policies offer the same benefits as the plans that do require a medical exam. For many individuals that qualify for these no exam life insurance, the costs are higher than a life insurance policy that is fully underwrittenISACA CISM.
But, these policies do not require that the applicant has an invasive medical exam which includes being stuck by any needles and being required to offer other bodily fluid samples. No exam life insurance policies that provide a full, immediate death benefit are still completely underwritten by the insurance company. This means that the plans pay the full-face amount upon death with no waiting period. It means as well that reviews of your medical history, pharmacy records, and driving records are done prior to being approved.
The full, immediate benefits death plans therefore are not normally approved for any individual with any serious health issues. These policies are not guaranteed to be issued and you must qualify even though an exam is not needed.
For those individuals with serious health problems there are several companies that have graded death benefit no exam life insurance policies. Most of these plans do require that a few simple health questions be answered and for most individuals is the lowest cost modified death benefit plan. Often these types of policies only have a 24-month or 2-year waiting period until full benefits are paid, offer a high payout during the waiting period, and will pay 100 percent of the death benefit even in the first 2 years if the death is caused by an accident.
There are only a very few plans that have absolutely no health related questions but are only available to those individuals over 35 to 40 years old, are very expensive and often have a 3 year waiting period before the full death benefits will be paid out