Life Insurance Without a Medical Exam

Posted by:  Financial Planner  on 4 Feb, 2012

There are times in your life when you’d prefer getting a life insurance policy without a medical exam. Most of those times revolve around health problems that may already exist and that you’re aware of.  Obviously this is the reason many life insurance policies require a medical exam, they do not want to provide a lot of coverage for someone who is not expected to live long. But there are some options available that do not require medical exams.

Life Insurance: Guaranteed Issue

Guaranteed issue life insurance is one option that does not require a medical exam and although it is typically a bit more expensive it is available to people who have already been turned down by other life insurance companies. Guaranteed issue life is a permanent whole life insurance policy so you will be covered for your entire life and the premiums will stay at the same rate throughout.

Life Insurance: Graded Benefit

Graded benefit life insurance lets you get life insurance without a medical exam and without any health questions. This policy is a bit more complicated to obtain than a guaranteed issue life insurance policy but it is perfectly designed for someone who is of middle or later age and who has had some health issues in their medical history.

Both graded benefit life insurance and guaranteed issue life insurance are excellent options for people who want to get a life insurance policy but don’t want to go through the hassle of a medical exam.