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No Medical Life Insurance

Life Insurance No Physical Required

You possibly have questions about no medical life insurance. Suddenly many of the more reputable life insurance companies are promoting the idea.

They are offering life insurance online to people between ages 18 and age 65. Ever wondered why? I am glad you asked.

The reason that these life insurance companies like no medical life insurance is that it is quite profitable, that is why.

It costs the life insurance companies a tremendous amount of money up front to issue one life insurance policy. Contrary to common belief they do not make any money for a few years.

They have to pay an agent to write the application. They have to pay a doctor, a paramedic or a nurse to gather pertinent medical information, they pay for what is commonly referred to as an inspection report.

The in house administrative costs of vetting information and putting a policy together can be pretty high.

When these insurance companies offer no medical life insurance they save money because a big chunk of their costs are eliminated. Applicants are not required to do a medical exam.

Note that they limit the amount of insurance you can get on a non medical basis. When they sell the policies on the Internet the agent's commission is eliminated in some cases, because you never see an agent.

They still do an inspection report to make certain they are getting good business though. All in all, it cost less to issue a policy without a physical exam than it would to issue one where the applicant had to do a thorough examination.

All life insurance companies issue life insurance without a medical examination but more often than not they are only made available to younger people.

This is because the life insurance companies know that the younger you are the more likely you are to be in good health. They also tend to issue larger amounts on a non medical basis.

Applying For No Medical Life Insurance

The Process

Now lets talk about you. If you are between age 18 and age 65 you could possibly get a no medical life insurance policy on the Internet.

You answer some basic questions, get a quote for the type and amount of life insurance you want then you complete the application.

The life insurance company looks at the information then they issue the policy, if you qualify.

Although some life insurance companies have taken advantage of the situation by charging you more, I guess because some people don't understand the process and expect to pay more, the reputable life insurance companies don't charge you any more for no medical policies.

Buying On The Internet

If you want some life insurance and just don't have the time to go through the process of doing a medical examination, and if the amount you want is limited then you should go ahead and look at quotes on the Internet.

The amount is usually limited to about $500,000. If you want larger amounts, or if the life insurance company uncovers information that would suggest that your health could possible be impaired, you are likely to be asked to do a medical.

You should also check out the company before you apply. The A.M. Best Company is the premiere source for information about life insurance companies.

The company you choose for your no medical life insurance policy should have a rating of A+ or better.

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