Interested in getting no medical exam life insurance in Atlanta & Georgia? Bering Insurance Partners can help! As an independent life insurance agent, we work with several insurance companies who will not automatically request that you take a medical exam.
What is No Medical Exam Life Insurance?
Well, almost exactly like it sounds, No Medical Exam Life Insurance is being able to get a life insurance policy in place without having to take what is called a Paramedical Exam. Traditionally, when applying for life insurance a standard part of the process is having to take a medical exam. Typically this requires the the insurance company recording your height and weight, taking your blood pressure, and collecting blood and urine samples. In some cases other tests such as an EKG may be required. The insurance company would then use these details in underwriting your application. However, more insurance companies are starting to offer the option of not having to go through the exam process. As a result, application can be processed faster and with less of a hassle for the applicant.
Types of Life Insurance Without No Exam
It will vary by company and coverage amount, but you can find most types of insurance available without an exam. This includes term as well as permanent life insurance options such as whole life. Each insurance company is going to have different guidelines on what will qualify for no exam. For example one company may be able to offer a one million dollar death benefit without an exam, while another will only go up to five hundred thousand. By working with an independent life insurance agent who represents multiple companies, they can walk you through the specifics of each companies non medical options (if they offer them).
Possible No Exam vs True No Exam
If you are shopping for a life insurance policy that doesn’t require an exam, you may run into a different options.
The first are companies that offer a true no medical exam option. This means that if you are able to get approved, then it will not require you having to take an exam. You would still need to answer questions about your current and past health. In addition, the insurance company will most likely run a few different reports including your prescription history, Medical Information Bureau (MIB) report, and Motor Vehicle Report (MVR).
A second option are companies that will offer the possibility of not having to take an exam. This means that they are going to review your application as well as the different reports, then decide if they want you to take an exam.
The final option is to have the insurance company obtain your most recent blood and urine sample results from your doctor. Usually the results will have to be somewhat recent, within 12-18 months, but they will be able to use this information instead of requiring you to take a new exam.
Again, each company is going to have different guidelines, so it’s best to get the details of what they will require before submitting an application.
What is the cost?
Historically, getting a life insurance policy without a medical exam had been more expensive than if you were wiling to take an exam. That is not the case any longer. There are a number of life insurance companies now who will not require an exam, but still are very competitively priced.
What factors will the insurance company look at?
Just because the insurance will not require you to take an exam doesn’t mean they’re not going to do their due diligence. As mentioned earlier, they will still most likely order a number of reports including your prescription history, Medical Information Bureau (MIB) report, and Motor Vehicle Report (MVR). They may also order an Attending Physicians Statement (APS) from any doctors that have treated you.
Getting a life insurance policy without have to take a medical exam can be very convenient. Now, more than ever, there are more options to chose from. If you are interested in getting a quote on no medical exam life insurance in Atlanta & other parts of Georgia, please contact us today using the form on this page, or by calling and speaking with one of our agents at 404-781-9415.
Car Insurance for Teens in Atlanta & Georgia