No-Exam Life Insurance Has Its Advantages

4 December 2015
 Categories: Insurance, Blog

If you're looking for life insurance, you've likely come across sites claiming no-exam insurance, where you don't need a medical exam, is not a good financial deal. However, that point of view assumes that you are completely healthy and have time for a medical exam -- and that you're willing to turn over that personal information in exchange for insurance. No-exam life insurance does have some specific benefits, and if you are not willing or able to apply for exam-based insurance, then no-exam insurance is a better deal than having no insurance. Here's a look at ways no-exam insurance could be a viable route for you.

No Time for Exams

Just because you want to buy life insurance doesn't mean you can take time off from work to go have the exam done. While the exam can be done in your office or home -- so you could have it done on your lunch break at work, for example -- you still might not want to use that time for the exam. A no-exam application is going to eliminate this problem. Whether you go with simplified-issue life insurance, in which you answer a short questionnaire about some basic conditions like heart disease, or guaranteed-issue, in which you answer fewer questions but pay higher premiums, that questionnaire is all you have to do.

No Patience for Lack of Privacy

Getting an exam for a life insurance policy often means giving up quite a bit a privacy. You have to give bodily fluid samples to a strange medical professional -- insurance companies won't let you use your own doctor, but one of their chosen medical professionals -- and you have to answer detailed questions about your lifestyle. Plus, if you have the exam done at work, co-workers would likely find out what you're doing. With a no-exam application, you avoid these issues by filling out the questionnaire at a time and location of your choosing, away from prying eyes.

No Time to Wait for Extra Protection From Debt

Sometimes you just want a fast plan in place to protect your estate from debt in case you die before you have it paid off. While your family and friends won't have to pay your debts, your estate will, especially if you owe back taxes. Rather than having to sell everything of yours and give the money to the IRS, for example, your family can let them know that you've left life insurance specifically so the debt could be paid without selling belongings. This allows your family to keep mementos while still covering the debt. No-exam life insurance reduces the chances that the company will stall on your application because of a finding during your exam.

If you want more information about what no-exam life insurance can do for you, talk to an insurance agent or a life insurance company as soon as you can. This is important protection that everyone should have. Going the no-exam route can give you that protection with less of a hassle.