No Exam Term Life Insurance

Did you know that you can get life insurance without needing to take a medical exam?  It is called No Exam Life Insurance , and it is offered by companies like Fidelity Life and RBC, among others.  The major appeal of this form of life insurance is that it is very convenient.  You go online, fill out an application, and receive coverage right on the spot. 

Here is a full list of things which make No Exam Life Insurance so popular:

• It is very convenient
• Instant approval
• No tests
• No complicated forms
• 30 day money back guarantee
• Choice of 10, 20, or 30 year term
• No wait
• Easy to qualify

Sounds great, right?  Well, it basically is, but there are a few trade offs that you should be aware of.  No Exam Life Insurance can be a bit more expensive for a given amount of coverage as compared with the kind that requires an exam, and the amounts of coverage top out at around $250,000 for most carriers.

One very important thing to keep in mind is that No Exam Term Life Insurance is not a Guaranteed Issue product.  In fact there is no such thing, really, in the life insurance world.  When you fill out your application, you will notice that detailed questions will be asked about health history, and it is extrememly important to be as accurate as possible.  As a condition of issuance, life insurance companies reserve the right to conduct an investigation before disbursal of funds, and they have become very skilled over the years in finding out about errors in the original application.

If you think you have a condition which disqualifies you for no exam life insurance, it is very important to speak to an agent who hopefully represents at least 5 of the major reputable life insurance companies--companies like MetLife, AIG, West Coast Life, Banner, RBC, Fidelity, and others as well.  Each life insurance looks at risk differently so it makes sense to go to several companies (or have you agent do this work for you).