If you are thinking about buying life insurance to protect your loved ones, there may be many reasons why you would want to avoid having to undergo an exam as part of an application. Perhaps, you have had some past health problems, and you are concerned that they will affect your ability to obtain coverage. Maybe you need to get life insurance quickly, and you are worried that a medical exam will significantly delay the process. Whatever the reason, “no medical exam” insurance may just be the solution you have been looking for.
Unlike traditional policies, “no medical exam” insurance policies do not require you to have a physical exam before your application is approved. Instead, the insurance company relies on a medical questionnaire that you must complete as part of your application package Security+ certification. This questionnaire asks for information regarding your health history, your lifestyle habits, and other items that the company will use to determine your eligibility.
It is important to be as honest as possible when completing the medical questionnaire. Before approving your application, the insurance company will order and review your records from the Medical Information Bureau (MIB). When you visit a doctor, hospital, or emergency room, information about your condition and treatment is sent to the MIB. If you omit or falsify information about your health history, the company can reject your application. If the worst cases, you can even be charged with insurance fraud.
“No medical exam” insurance is typically available in amounts up to $100,000 if you are under the age of 40 when you apply for coverage. Older people can still obtain “no medical exam” life insurance coverage, but the policy limit may be lower. If you need more coverage, you may still have to submit to an exam as part of your life insurance application.