Contents

• What Is No Medical Life Insurance
• Benefits of Life Insurance
• Advantages and Disadvantages of No Medical Life Insurance
• What are the Alternatives To No Medical Life Insurance?
• What Happens In a Medical Exam for Life Insurance?
• What Do You Do with the Results of a Life Insurance Medical Exam?
• How are Premiums Calculated on Medical Exam Results
• Is It Worth Avoiding a Life Insurance Medical Exam
• How to Ace Your Medical Exam for Life Insurance

Life insurance is one of the necessities of life if you have both bills and dependents. If you were unable to provide for your family, they would not only be devastated by losing you, but could also be financially devastated by the loss of your income. However, life insurance is also one of those things which it is easy to put off – thinking you’ll organise it another day, another time, because it is after all, not something you use every day.

While you don’t want to think about ever using your life insurance policy, the sooner you and your family are protected, the sooner you really can forget about it, and that is why no medical life insurance applications are available, to make it fast and easy to apply, be approved and be covered for life insurance no matter what your circumstances, without having to even look at a needle or speak to a doctor.

What Is No Medical Life Insurance

No medical life insurance will approve an insurance policy without the need for a medical exam. Traditionally life insurance providers required a blood and urine test to conduct medical screening for traces of illnesses or diseases which would make you more of a risk to insure. However, a no medical life insurance policy can provide you with full coverage and a fully featured policy without any extensive testing. As a result, no medical life insurance is perfect if you need cover quickly.

If you are in good health you can find an affordable and comprehensive life insurance policy which doesn’t require you to take a medical exam. You can often choose a life insurance term of 10, 15, 20 or 30 years so you can cover your income with an insurance benefit while your children are young, or going through school, and as your commitments decrease – your children leave home or you pay off your mortgage, you can reduce cover you don’t need.

No medical life insurance can be organised in minutes, even if you have a pre-existing medical condition. Each provider will have different conditions and charge different premiums, so while no medical life insurance is easy and fast to obtain, you do still need to shop around for the best deal and a plan which suits your needs, medical history and lifestyle. Often if you have serious health issues, an unhealthy family history or pre-existing conditions, when you take a medical exam to obtain life insurance you can find the policy very expensive. However, applying for no medical life insurance can not only save you money on your premiums while still providing full coverage, you can also shop around for free as there is generally no charge for a no medical life insurance quote.

Benefits of Life Insurance

Life insurance is something which you have to purchase and pay for yourself, but you are not the one who will benefit. Instead, life insurance will pay a benefit to your spouse and dependents named in the policy if you die and no medical life insurance is just like any other form of policy except you don’t need to undergo a medical exam. What you do need to do is compare policies, read and understand the fine print of your policy contract and decide whether the benefits of life insurance would be a benefit to you:

• Covers your family’s finances. A life insurance benefit payout can help your family avoid financial hardship if you die and are therefore unable to provide an income.
• The younger and healthier you are, the lower your premiums. Many life insurance policies come with an automatic renewal feature where your policy is automatically rolled over each year, without any further assessments being made or questions being asked. If your health or medical conditions change once you have been approved for life insurance, you are not required to notify your insurer of these changes, so the earlier you obtain a life insurance policy, the easier it will be to maintain your policy – not to mention it will be more affordable.

Advantages and Disadvantages of No Medical Life Insurance

In addition to the benefits you will receive of peace of mind and protection for your family, with no medical life insurance you could qualify for inclusive coverage and low premiums. No medical life insurance can offer such benefits because it is specifically tailored to certain demographics, often the people who want to be covered in case the worst should happen but are very low risk customers who don’t want to pay for the poor health and lifestyle choices of others.

For example, you could benefit from no medical life insurance if:

• You are a non-smoker and drink little. No medical life insurance policies are often approved for people with a healthy life style, similarly you may have trouble being approved for no medical life insurance if you are overweight.
• You have a low risk job. You can be easily approved for an affordable no medical life insurance policy if you don’t work in a hazardous environment, and you don’t work shift work or late nights.
• You are younger than 45 years old. Often no medical life insurance will be approved to young applicants as this lowers the risk for the insurer that you are suffering medical conditions or diseases, or that you will in the near future.
• You are short on time. You can apply for no medical life insurance without making a trip to the doctor, undergoing rigorous medical exams and then waiting for the results. You also don’t have to visit an insurance company office and fill in endless forms, instead you can apply in minutes.

Before you apply for no medical life insurance, make sure you know about the possible drawbacks of a policy which doesn’t require a medical exam, and decide whether they are relevant in your situation:

• A lower insurance payout benefit. Often the amount of your coverage is lower when you apply without completing a medical exam, so make sure you check whether the quoted amount will cover your family’s bills, expenses and lifestyle for as long as they need it to.
• Higher rates. You can have higher rates applied to your policy if you don’t complete medical tests before applying for life insurance.

What are the Alternatives To No Medical Life Insurance?

No medical life insurance can suit some people and circumstances who may want instant cover, or don’t have the time to undergo a series of medical tests. However, there is a reason why most life insurance policies will ask to run blood and urine tests to check for a range of diseases before insuring you, because these providers want to make sure they are providing the very best coverage. A medical assessment for life insurance is usually conducted by paramedicals who are licensed health professionals and are independent contractors hired by the life insurance company.

The assessment process usually begins by asking some medical questions, usually by an insurance agent who will complete an application, alternatively this portion can be completed online. The second part of the assessment is a medical form which is completed by the paramedical or a doctor.

Once your application for life insurance has been submitted, your life insurance provider will give their paramedical the information collected on you, and details of the coverage amount you are applying for as most paramedicals are familiar with an insurer’s underwriting requirements. Most paramedicals can come to your home or office to complete the medical exam portion of your application. While your doctor may be required to submit an attending physician’s statement, your examination for life insurance cannot be done by your regular doctor.

You don’t have to pay for the medical exam but it can be a mandatory part of your life insurance application so if you’re not able to schedule an appointment at your home or office, you can visit a clinic approved by your insurer.

What Happens In a Medical Exam for Life Insurance?

Generally a basic exam is all that is required to approve your life insurance and this involves your paramedical taking information about your medical history, noting your physical measurements including your height, weight, blood pressure and pulse. You will then need to supply a blood and urine sample.

The tests which are conducted with your samples will depend on your age and the amount of cover for which you are applying. For example, as your age and cover amounts increase, you may be required to complete a treadmill test and if you are applying for a low level of cover you may not need a paramedical exam at all.

The medical exam for life insurance is generally quite simple because your insurer is simply looking for signs which may indicate you have a medical condition which could shorten your life, as this heightens their risk of having to pay out sooner, before collecting enough premiums from you. Your samples will be used to test for:

• The presence of antigens which can indicate HIV.
• Cholesterol and related lipids.
• A liver or kidney disorder.
• Diabetes.
• Antibodies which indicate hepatitis.
• Prostate specific antigens which can indicate prostate cancer.
• Immune disorders.

Your urine sample may also be tested in a routine analysis, as well as being screened for medications, cocaine and other drugs to indicate your lifestyle. Providing blood for the tests can be as simple as a finger prick, or could be done with a needle.

What Do You Do with the Results of a Life Insurance Medical Exam?

Chances are you don’t routinely get screened for any or all of these diseases or conditions and with all these tests being run it can be a good time to assess your health and find out if there is anything concerning to be found. The results of your life insurance medical exam are sent to the insurance company’s underwriter for review, and you can request a copy of the results too.

If anything of concern shows up you can consult your own doctor for further tests or treatment, and if there is anything which raises questions for the insurer they may request more information or testing. In the unlikely event that you are chronically or terminally ill and didn’t know about it until your life insurance medical exam, your application will normally be declined and you will need to seek an insurance company which covers high risk customers.

Regardless of what you decide to do with your medical exam results, and even if you decide against life insurance, the results of the medical tests will stay on file with the Medical Information Bureau Group which all insurers have access to. This means these details could be referenced if you apply for life insurance, health insurance, disability income, long term care of critical illness insurance,. Records are kept on file for seven years and there are over 470 insurers who have access to this database so the details of your bad health habits, whether you have a hazardous occupation, and which medical conditions you have or have a family history of, are all on record. Like your credit report you can request to have black marks changed or reassessed, and can obtain a copy of your report for free from MIB.

How are Premiums Calculated on Medical Exam Results

Based on the results of your medical exam and the rest of your life insurance application, the underwriter sets a premium amount which you have to pay each month for your coverage. For example, a smoker will pay a higher premium than a non-smoker, and if any nicotine at all shows up in your system you will be considered a smoker.

If nothing unusual turned up in your medical exam then the classifications which were used in your original life insurance quote will be used and your premiums won’t differ too much from the original quoted price. However, if a disease or condition is detected, you may be offered a different policy, with different coverage and a higher premium. Your premiums are calculated in two ways, either using a flat risk rating, or table ratings.

Flat ratings are sometimes also called temporary flat extras and an underwriter may apply a flat premium to your policy for a short time if you have just had surgery for example. However, if you have high blood pressure for example, then you are an ongoing high risk and may receive a table rating. Table ratings mean your premiums will increase by a set amount specific to the medical condition and your age. If you are unhappy with the rating you receive your insurance agent can argue to have it changed but you may need to submit to more medical tests.

Is It Worth Avoiding a Life Insurance Medical Exam

While there are a battery of tests run on your samples, you only spend a few minutes providing the samples and answering a few questions about your habits, your health and your family and medical history. Plus a medical exam should be a part of your health routine anyway so that you remain aware of what is going on with your body, so you can get the most out of life.

No medical life insurance polices are often only available to lower risk applicants as this reduces the risk the insurer has of having to pay out on someone with an illness or disease. However, if you are in good health, then you can usually secure a lower premium by undertaking a quick medical exam because rather than assuming you are a lower risk, the insurer can guarantee it.

How to Ace Your Medical Exam for Life Insurance

The better the results of your medical exam, the lower your premiums and the higher the coverage you can apply for when looking for life insurance. Therefore, look after yourself before the exam to ensure a good result by:

• Getting a solid full night’s sleep the night before.
• Not drinking any alcohol at least eight hours before the exam.
• Avoiding caffeine, including coffee, soda and chocolate at least one hour before the exam.
• Limiting your salt intake and reducing high cholesterol foods for 24 hours before your exam.
• Not doing any strenuous activity for 24 hours before the exam.

Applying for a life insurance policy is probably one of the most selfless things you will ever do and you want to make sure you do it right. Therefore, if you are able to find the lowest premiums and the most inclusive cover in a quick and easy online application which covers you instantly, no medical life insurance could suit you. However, if you are able to take a little time to submit some samples for a life insurance medical exam, you can receive cover and premiums perfectly tailored to you and your health, as well as uncovering any diseases or illnesses which you can work to prevent.