Life Insurance No Medical Exam | You Have Options

Some people decide that they need to get life insurance, but can't find the time in which to get the medical exam in order to qualify for the coverage. These medical exams are considered by some to be lengthy, invasive, and a waste of time, especially if you're relatively young and in good health. However, insurance companies are often reluctant to insure someone and provide a rate quote until they know what they're insuring. This presents a unique challenge to both the insurance provider and the insurance seeker because they need to find some common ground if they want to work together. Fortunately, there are several good companies that now offer life insurance no medical exam required.

The reason that life insurance companies require the medical exam in the first place is so that they can evaluate your health and the likelihood of your passing away during the term of the policy. Longer policies are usually more expensive, since the premium is fixed, which gives the provider a higher likelihood that they will eventually have to pay out on the policy. However, some providers are now willing to offer life insurance no medical exam required, and request that you fill out a health questionnaire instead of taking a physical exam.

Premiums for life insurance no medical exam are generally higher, since the insurance company is carrying a greater risk since the state of your health hasn't been confirmed with physical evidence. But if you're in good health and are young, then you are less of a risk to the insurance companies. In the competition to insure better candidates, insurance companies have found that offering insurance policies that don't require a medical exam give them a slight edge over companies that do not offer this option. People like to keep their options open, after all.

Some people may try to cheat the system by trying to procure life insurance no medical exam and lying on the health questionnaire. However, this is never a good idea, since this constitutes insurance fraud. Best case scenario, your coverage will be cancelled. Worst case scenario, you will be faced with criminal charges for trying to commit fraud. Honesty is definitely the best policy when it comes to getting life insurance, and you should do your best to make sure that the information you provide to the insurance company is as accurate as possible so that your family is sure to get what they need with minimal hassle if something happens to you.

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