Types Of No Medical Exam Life Insurance In 2024

Can you get no medical exam life insurance in 2022? Hi, my name is Zaneta Gechev with One Stop Life Insurance. A few years back we made a video of the different types of no medical exam life insurance policies. You can view that here as well as in the description. However, today we wanted to just update that video and advise you of what are your options for no medical exam life insurance in 2022. So the first thing we want to list is a pure no medical exam life insurance option. Basically going into the application you know whether this product will be approved or declined right off the bat. There is no possible exam. Let's see what happens. No. Yes or no. This will be the outcome on the application. Now the advantages of that are some of those pretty obvious. You don't have to meet with a nurse. You can get a decision rather quickly versus waiting a week's time to schedule an exam, get poked in the arm and so forth waiting for the results. There are companies out there that could offer even instant decision. Basically by the time that you and I are done completing the application we can get that decision on the spot. The good thing is many life insurance companies have raised their limits and nowadays you can even get approved for instant decision for up to two million dollars based on your age and other qualifications. But two million dollars, instant decision, no medical exam, that's pretty good. The downside of this option is first not every company offers that so we're a bit limited to the choices of companies that we can select. And second not everyone would qualify for that. So for example if it's been a while since you've seen your doctor, maybe you have some health conditions that are not well controlled, you may not be able to qualify for the instant decision pure no medical exam life insurance options. Which leads us to the second type of no medical exam life insurance options. This is the one where we submit the application and see if the company can accelerate that. Now even though this is not a pure no medical exam, there is still an option to have to complete a medical exam. We wanted to include it in the video because more and more companies are leaning towards accelerated underwriting. This is the name of the process. But basically how that would work is we complete the application. We complete either the entire application over the phone or you start portion of it with us and then the rest like the medical questionnaire you complete via phone interview or via email email link where you just type in or answer yes no medical questions. And at the end of that process the company takes out your application, they run their internal reports, data verification, prescription report, MIB check and all of that and they come back and let us know yes we can continue underwriting without the medical exam. Basically we can approve this application based on the data we already have on file or no this particular case will require a medical exam. Again we bring this option up because a lot of companies are updating their requirements we've noticed a shift where more and more companies are trying to approve more policies without the need of the medical exam and with certain carriers you have up to 80% chance of your application being accelerated and not having to do the medical exam. Now there are other types of policies that will not require a medical exam I just want to touch on those and if you have any additional questions you can either look at the original video or simply reach out to us via email phone call or head out to our website. But very quickly the other types of no medical exam options would be an accidental life insurance the name suggests covers only in case you pass away because of an accident and for example final expense policies typically those are also done via phone application only no need of a medical exam. So again my name is Zanetta Getif if you have any questions or you need you need us to take a look at your situation and see if one of these products would be a good fit simply reach out to us we hope you have a great rest of your day!