How Much Life Insurance Can I Get without a Physical?

When it comes to securing life insurance, many people are concerned about the implications of undergoing a physical exam.

Whether due to health concerns, privacy issues, or the desire for a faster application process, the good news is that life insurance without a physical is an option.

Today, I'll guide you through how much life insurance you can get without a physical, the policy options available, eligibility criteria, cost comparisons, and the application process.

Guide to Buying Life Insurance without a Physical 

Quick Review

The amount of life insurance you can get without a physical exam varies depending on the insurer and the type of policy, but typically ranges from $25,000 to $3,000,000.

Policies such as simplified issue and guaranteed issue life insurance often do not require a medical exam, though they may involve a health questionnaire.

While these policies offer convenience and faster approval, they usually come with higher premiums and lower coverage limits compared to fully underwritten policies that require a physical exam.

Compare No Exam Life Insurance Quotes

Understanding Life Insurance Options without a Physical

Life insurance policies that don’t require a physical exam typically include simplified issue and guaranteed issue policies. These options provide a valuable alternative for individuals facing health concerns or who simply prefer not to undergo a medical examination.

But how much coverage can you obtain through these types of policies? Let’s dig deeper.

Simplified Issue Term Life Insurance

Simplified issue life insurance policies are designed to offer relatively quick approval by foregoing the physical exam and instead relying on a detailed health questionnaire. Coverage limits for simplified issue policies generally range from $25,000 to $3,000,000, depending on the insurer and the applicant's age and health profile. This type of policy is often attractive for those who are relatively healthy and need coverage without the wait. Get a FREE Quote.

Guaranteed Issue Permanent Life Insurance

Guaranteed issue life insurance policies, on the other hand, offer coverage without any medical questions or exams at all. The catch is that these policies usually have lower coverage limits, typically ranging from $5,000 to $25,000. They are primarily designed to cover final expenses, such as funeral costs and remaining debts, making them a popular option for older adults or those with significant health issues. Get a FREE Quote.

Eligibility Requirements

Simplified Issue Life Insurance

Regarding eligibility criteria, simplified issue policies usually require the applicant to answer a series of health-related questions. While there are no physical exams, insurers still use these questionnaires to determine risk.

Questions may pertain to recent hospitalizations, chronic diseases, lifestyle habits like smoking, and other medical conditions. If you have serious health issues, you may be steered toward a guaranteed issue policy. Get a FREE Quote.

Guaranteed Issue Life Insurance

For guaranteed issue policies, the primary eligibility criterion is often age. Most insurers offer these policies to individuals between 45 and 85 years old. As there are no health questions or exams, they are a viable option for people with severe health conditions who might otherwise be deemed uninsurable. Get a FREE Quote.

Cost of Coverage

Simplified Issue Life Insurance

One significant factor to consider is the cost. No-exam life insurance policies typically come at a higher premium compared to traditional policies. This is because insurers take on greater risk by not assessing your health in detail.

For example, a $100,000 simplified issue policy might cost $50 per month for a healthy 40-year-old, while a traditional policy requiring a physical could be as low as $20 per month.

Get a FREE Quote.

Guaranteed Issue Life Insurance

Guaranteed issue policies generally have the highest premiums, reflecting the higher risk insurers undertake by not evaluating the applicant’s health.

For instance, a $10,000 guaranteed issue policy could cost between $50 to $70 per month for a senior aged 65. While pricier, they provide crucial peace of mind for those needing coverage despite health challenges. Get a FREE Quote.

Application Process

The application process for no-exam life insurance is straightforward and quick, making it ideal for convenience seekers.

Simplified Issue Life Insurance

With simplified issue policies, you'll complete an online form or phone interview detailing your health history. The insurer will then use this information, often alongside data from prescription databases and the Medical Information Bureau, to make an approval decision.

Once you've completed the application, you can typically expect an approval decision within 48 hours. Some insurers even offer instant approvals for simplified issue policies.

This swift process ensures that those needing coverage urgently can benefit without undue delays. Get a FREE Quote.

Guaranteed Issue Life Insurance

For guaranteed issue policies, the application process is even more straightforward. You’ll need to provide basic personal information and answer a few non-medical questions. As there are no health-related assessments, these applications are usually approved within a day or two, ensuring expeditious coverage. Get a FREE Quote.

Financial Planning

In the context of financial planning, incorporating a no-exam life insurance policy can significantly enhance your strategy.

These policies can help cover final expenses, pay off debts, or provide a financial cushion for your dependents. Particularly for those who are risk-averse and want to ensure they leave a legacy without complications, these policies offer a valuable solution.

Example of Simplified Issue Life Insurance

Take, for example, Lisa, a 55-year-old professional with a family history of heart disease.

Concerned about potential health disqualifications, she opted for a simplified issue policy with a $250,000 coverage limit. Within two days, her policy was approved, giving her peace of mind that her mortgage and children's education expenses would be covered if something happened to her. Get a FREE Quote.

Compare Options for No Exam Life Insurance

If you're leaning toward a no-exam life insurance policy, it's crucial to compare options. Various insurers offer different coverage limits, premiums, and application processes. It's advisable to request free quotes from multiple providers to identify a policy that best fits your needs and budget.

Corebridge Financial

• Pricing: Hard to beat (Good Pricing)
• Ages: 18 to 60
• AM Best Rating: A- (Excellent)
• Coverage: Up to $3,000,000
• Policy Term: 10, 15, 20, 25, 30 or 35 years
• Approval Time: 15 minutes to 24 hours

No Exam Life Insurers

Various life insurance companies offer no-exam term life insurance, including well-known names like Fidelity, Sagicor Life, and Corebridge Financial, among others.

Each company has its specific policies, terms, and coverage limits.

For instance, Corebridge Financial offers up to $3,000,000 in coverage without a medical exam for applicants aged up to 60, though this might vary with individual risk assessments.

Compare No Exam Life Insurance Quotes

Key Factors to Consider

When comparing policies, consider key factors such as coverage amount, premium cost, insurer reputation, and the ease of the application process.

Online tools and aggregators can be incredibly useful in providing quick comparisons, giving you a clear picture of your options without the hassle of contacting each provider individually.

Advantages and Limitations

It's also essential to be aware of the advantages and limitations of no-exam life insurance.

On the positive side, these policies offer convenience, quick approval, and privacy.

However, they also come with higher premiums and potentially lower coverage limits than traditional policies.

Evaluating these factors can help you determine whether a no-exam policy aligns with your financial goals.

Industry Trends

For those still on the fence, consider recent data from the Life Insurance Marketing and Research Association (LIMRA), which shows a growing trend in no-exam life insurance policies due to increasing demand for convenience and quick coverage. This trend underscores the validity and popularity of these options in today's fast-paced world.

Statistics

Additionally, reports from the Insurance Information Institute (III) highlight that around 41 million Americans admit they lack adequate life insurance coverage, emphasizing the importance of securing a policy sooner rather than later.

No-exam policies provide a practical solution for addressing this gap, especially for those with health concerns or a need for expedited coverage.

Example of Guaranteed Issue Life Insurance

Investing in a no-exam life insurance policy can be a smart move to protect your loved ones.

For example, John, a 60-year-old retiree with diabetes, opted for a guaranteed issue policy to cover his final expenses.

Despite his health condition, he secured a $15,000 policy, ensuring his family wouldn't be burdened with funeral costs. Get a FREE Quote.

Safe and Secure Coverage

As you consider your next steps, remember that obtaining life insurance without a physical doesn't mean compromising on coverage quality. Many reputable insurers offer robust no-exam policies that can meet your financial needs, providing ample protection and peace of mind.

Summary

In conclusion, whether you have health concerns, value privacy, or simply prefer a quick and easy application process, no-exam life insurance policies can be a suitable option.

By understanding the coverage limits, policy types, eligibility criteria, costs, and application processes, you can make an informed decision that aligns with your financial goals and personal circumstances.

Ready to explore your options? Request a free quote today to find out how much life insurance you can get without a physical.

By taking this step, you'll be well on your way to securing a policy that meets your needs and provides lasting financial security for your loved ones.

Compare Life Insurance Quotes

Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 63 top life insurance companies and find you affordable life insurance you need to protect your family and fit your budget. 

JRC Insurance offersup to $2,000,000 of life insurance with no medical examrequired.

You can get approval for your insurance policy in as little as 10 minutes to 2 days. JRC offers no exam life insurance for diabetics, too.

JRC offers some of the best rates on life insurance policies without any health exams required.

You can compare and choose from $25,000 to $2,000,000 of no exam life insurance coverage from several leading life insurance carriers through JRC Insurance Group.

Highly Recommended – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.

• Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee