No Exam Life Insurance

No Medical Exam Life Insurance is term extra security that doesn’t require a physical exam test. It offers insurance protection to individuals . Before proceeding further, customers and readers of life coverage or insurance ought to comprehend the accompanying key attributes of no exam life insurance

  1. These no exam life insurance policies are not the same as assured acceptance policies.
  2. The application takes as few as 20 to 25 minutes to finish and comprises of wellbeing questions with respect to health history that will decide the candidate’s insurability
  3. Applicants and customers should not hide any health related issues.

Life Insurance With No Medical Exams

In this no exam life insurance, no physical or medical exam takes place. The insurance provider or agent uses other resources to grab an idea of the overall health of the applicant. This takes place during the life insurance application process via the following sources:

  1. The Medical Insurance Bureau: this corporation which operates on a non-profit basis in Canada and U.S has been helping the insurance companies in determining the applicant’s health and its related risks.
  2. The RX or Prescription Report: The Rx or prescription report is another external source used by the insurance company agents in understanding the applicant’s health related issues. This Rx report allows these agents or insurance companies to access information regarding the applicant such as prescription history, medicine given, quantity or dosage given, refills, diagnosis etc.
  3. Driving records or DMV: During the applicant’s underwriting process, these life insurance companies can access an applicant’s driving records through the DMV. DMV provides the insurance companies information such as tickets, accidents or any other traffic offenses.

No Exam Life Insurance Prices and Packages:

There are different prices and packages of no exam life insurance starting from 10$ per month to 100$ per month depending on insurance tenure, applicant’s health and coverage amount. If you have a good health then you should skip the exam and pay the same rate.

Top 5 no exam life insurance companies based in U.S are :

  1. Forester
  2. Americo
  3. Nassau Re
  4. Sagicor
  5. Mutual of Omaha

What Purpose does No Exam life Insurance fulfills and for which people it’s best for?

  1. Convenience shoppers such as online consumers who often prefer no exam life insurance policies because they are accessible via the internet. By eliminating the traditional two-month underwriting process, online shoppers can enjoy the ease of doing business with life insurance companies once again
  2. Health curious customers who have an amazing health takes the benefit of boosted underwriting by purchasing this no exam life insurance.
  3. Individuals and customers who lead and spend healthy life styles.
  4. Specially for the procastinators who don’t wish to go personally to the old buying process

Apart from No exam Life Insurance, there are several other options available for customers. For example Traditional term Life Insurance  and Permanent Life Insurance are some other options.