Over the past several years, insurance agencies have seen a major increase in the number of people asking for life insurance products without having to take a medical exam. For many people, having to take a medical exam becomes a deal breaker when it comes to acquiring a life insurance policy. Those days are gone, however. There no longer is the need for people to fret about searching for a policy that requires them to go through the exam process. This means people no longer have the excuse of not obtaining a policy simply because they don’t want to see a doctor.
It is important to understand that a “no exam” policy will tend to be more expensive than a policy that requires an exam. On the bright side, though, purchasing a policy will still be much more beneficial than choosing not to obtain one at all. The expensiveness comes from an insurance agency taking more risk for insuring a person who chooses not to go through the exam process.
To qualify for a “no exam” policy, a person still needs to be in decent health. He or she will also have to pass a MIB check, which consists of an insurance agency checking out a person’s pharmacy report as well as a motor vehicle report.
People who will greatly benefit from acquiring a “no exam” policy are those that have not visited a physician within the past several years. By securing an insurance policy without having to take a health exam, a person can rest assured that no matter the results of an exam that may or may not take place later down the road insurance will still be provided.
Traditional life insurance policies tend to take several weeks to underwrite. For those who are in need of life insurance on a quick basis, a no medical exam policy is a great way to accommodate this necessity.
It should be noted that a no medical exam policy is not for everyone. For people who are confident that they will successfully pass a medical exam, a traditional policy tends to be much more affordable. On the other hand, if a person doesn’t want to go through the exam process and still wants to acquire a policy, a no exam coverage plan can be of the utmost benefit.
If you are considering acquiring life insurance, and you want to acquire a policy without taking a medical exam, take comfort in knowing there are options available for you to take advantage of.