Who Should Buy No Medical Exam Life Insurance?

Life insurance policies are designed to protect their policyholders or their families. We have numerous riders that can be attached to them and these riders financially help the insured when she or he gets sick or injured. But most often, life insurance is used as a legacy that will ensure that the remaining family members will have enough money to survive.

happy-familyThe death of a breadwinner is tragic, not only because you lose a dear person, but also because you lose a person that was earning money for the family.  This is why so many people think more and more about purchasing life insurance. Not all of them will be accepted.

Standard policies cannot be purchased by everyone, there are certain limits.  However, there is a type of policy that is accepting people easier than standard policies: no medical exam life insurance and we can tell you who should buy it.

Senior citizens are the first one who should buy it. In many cases, age is an impediment in obtaining life insurance. It does not matter for standard carrier if you are old, but healthy. Age is extremely relevant and having a higher age translates into a greater risk.  So, if you are old and healthy, no exam life insurance companies will have no reason to exclude you, unless you have more than 80 years old. After this age almost no insurer will issue a policy, although there are some companies and policies that accept clients with age around 85-90 years.

People with a pre-existing medical condition should also buy it.  No medical exam policies exclude medical tests. But they do not exclude medical questions or medical records. Some companies will ask you to bring medical record, others just to answer to several questions.  Based on the answers, the premiums will be calculated.

Former cancer patients, diabetics, those with high blood pressure or high cholesterol levels are eligible for no exam policies. Again, there are some limitations. Current cancer patients and those terminally ill are not eligible.

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