No Health Exam Life Insurance

“The Disadvantages”

On your current quest for life insurance info, you’ve probably come across the No Health Exam Life insurance option. You probably think it looks pretty good eh?

One thing I’ve noticed as I’ve been building this site (ever so slowly:) )is that there’s so much information out there on the different types of policies.

Not only does each company differ in the coverage it will provide but also your premiums and death benefit can be very different!

If you’re still not convinced whether choosing life insurance is right for you then you might want to read up on some of the benefits of life insurance on: Beneficiary life insurance.

And, if you are sort of “up in the air” about no exam life insurance policies then you might want to head on over here and check out No Exam Life Insurance - who is it right for?

Is it right for you?

So… with all that said… What are the disadvantages of a no health exam life insurance?

Okay… now on to the good stuff!

• Lower Premiums
• Lower death benefit (payout amount)
• Usually only available as term policies although this varies (see below)

Life Insurance No Medical Exam = Higher Premiums

In most cases, the life insurance, no exams asked will equal to higher premiums! Now, I’ll admit that while doing research I’ve actually seen policies out there boasting up to $250,000 in coverage and this is just great!

But please be aware that there are many companies who will not offer such high policies without asking you to take those exams. In many cases, these premiums can end up being higher than a standard life insurance policy; which asks you to take tests and blood work.

So why do they want you to take all these exams anyway? You can find out here on: No medical exam life insurance –Why do they want an exam?

No Health Exam Life Insurance = Lower death benefit

One of the main reasons why a policy like this will have a lower death benefit will be because your health is an unknown factor in the equation. The company wants to know that you are healthy, strong and will live a long time! So with that uncertainty comes a higher risk for your life insurance company and they have to take that into account.

The older you get the lower your death benefit will be. This actually applies to all other policies as well, because as you and I age we have less time to pay those premiums!

So please shop around and remember each company is different in the type of policy they’ll offer you. Some may ask you questions about your health and some have a “no questions asked” policy which is also known as a guaranteed issue life insurance policy, which really does have a low death benefit.

No Medical Exams Life Insurance -
Will it always be a term policy?

There are some whole life no exam policies; however, you’ll find that with these the death benefit will definitely be lower than usual (one of the disadvantages above).

Having a term policy is not necessarily a disadvantage because this really all depends on your personal situation. However, the downside of buying term is that it only offers you coverage for the term in your policy.

Read more about it here on Cheap term life insurance.

When choosing life insurance, you should always have a knowledgeable agent to assist you in planning your coverage. Put them to work for you and they can match you up with a policy that’s just right!

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