Term life insurance no medical exam no health questions

Compare buying life insurance with no health questions to one-click shopping. Convenience is key.

Simple and fast sound appealing. Yet, you’ll want to be sure that the purchase you are making is in your best interest.

This type of life insurance – a form of whole life insurance with no health questions and no medical exam – only makes sense in a few situations.

Here, you will find everything you need to know about no health questions life insurance.

Table Of Contents

1. What is No Health Questions Life Insurance?
2. Life Insurance with No Health Questions has Fast Approval
3. Sample Rates for Life Insurance with No Health Questions
4. Best Companies for No Health Questions Life Insurance
5. Alternatives to Life Insurance with No Questions About Health
6. How to Apply for Life Insurance with No Health Questions

No health questions life insurance is a form of life insurance that does not require any health questions or a medical exam during the application process to qualify. It is also called guaranteed issue life insurance.

Here are 4 important facts to know about life insurance with no health questions.

1. No Health Questions Life Insurance Has Guaranteed Approval

No is not an option. Aptly named guaranteed issue life insurance (GI), you cannot be turned down, even if you have serious pre-existing conditions.

Note – This type of life insurance is also called guaranteed acceptance life insurance with no health questions.

In general, guaranteed issue life insurance should not be your first life insurance option. You will want to explore other types of life insurance first.

Here’s Why

Guaranteed issue life insurance with no health questions is designed for those who would otherwise not qualify for coverage.

Life insurance carriers realize that most applicants for this type of policy have significant medical complications.

In turn, they skip the health questions during the application process. In lieu of questions, carriers opt to charge you significantly more in premiums for a modest policy.

2. Guaranteed Life Insurance Face Amounts are Modest

Anytime you purchase life insurance with no questions about your health, plan on the face amount (policy size) to be modest.

Here’s Why

Life insurance carriers are in the business of risk absorption. By accepting applicants with serious health concerns (for example, cancer patients), they are agreeing to absorb significant risk.

Policies are limited to smaller face amounts because, and we mean this in the nicest way, you likely pose a high level of risk to the life insurance companies.

Expect your policy to be limited to an amount between $1,000 – $40,000 (many carriers cap at $25,000).

In fact, you will want to be careful to not pay more in premiums than your policy is worth. It’s entirely possible to end up making premium payments over a number of years that total more than a modest policy is worth.

Example:

• You purchase no health questions life insurance policy (GI) for $10,000 at age 60.
• Your monthly premium payments are $63.17.
• If you pay your premiums for 15 years, you will have paid more in premiums than the policy is worth ($11,370.60)

Note – If you need more coverage than one GI policy provides, you may have the option of buying multiple GI policies. Known as stacking life insurance policies, you are able to secure a larger amount of life insurance coverage through purchasing more than one life insurance policy.

3. There Will (Likely) Be A Waiting Period for Full Benefits After Applying

After your policy is issued, plan to wait around two, sometimes three, years before your beneficiaries will receive the full death benefit.

Typically, carriers want a hedge against the policy they issued. So, they will only pay a percentage of the death benefit, or return your premium payments (plus interest) for the first couple of years. This is common in life insurance for terminally ill people.

Here’s Why

This is often a way for the life insurance carriers to protect against paying a full death benefit on those that are terminally ill.

In other words, they do not want to issue a policy and pay the full death benefit if the insured is going to pass away in a matter of months. Instead, they issue a graded death benefit.

After the graded benefit period, your beneficiaries will receive the full death benefit.

4. Age Requirements Exist for Life Insurance with No Health Questions

To qualify for this type of policy, you will need to fall between the ages of 40 – 85 years.

Although, most guaranteed issue carriers require you to be at least age 50.

If you are younger than age 40 and do not qualify for other types of life insurance, consider an accidental death policy until you can meet the age requirement.

Life Insurance with No Health Questions has Fast Approval

Since you are purchasing life insurance with no questions about your health, expect the application process to be lightning-fast.

Here is the guaranteed issue life insurance application process:

1. Decide the policy face amount you would like (i.e. $20,000).
2. Communicate your basic information: date of birth, social security number, address, etc.
3. Record your beneficiary information.
4. Make the first payment and establish a payment schedule.

Your policy will be in force after you make your first premium payment. The entire process takes minutes.

Sample Rates for Life Insurance with No Health Questions

Let’s take a look at some sample quotes for guaranteed issue life insurance with no health questions:

Quotes: Life Insurance With No Health Questions For Male

Subject to change. Guaranteed Issue life insurance quotes.

Quotes: Life Insurance With No Health Questions For Female

Subject to change. Guaranteed Issue life insurance quotes.

Keep in mind – quotes are samples only and are subject to change.

Best Companies for No Health Questions Life Insurance

You will want to make sure you work with an independent life insurance agent to find the best carrier to fit your needs. Each company has different processes and features, and an independent agent can shop the market for you.

No Health Questions Life Insurance Companies

*Accelerated Death Benefit is available in Great Western's Assurance Plus product.
Subject to change. Best life insurance carriers for life insurance with no health questions.

Our top “no health questions” life insurance carriers include:

AIG Guaranteed Issue

AIG Guaranteed Issue life insurance is a great policy to consider. Here is a summary of what AIG offers:

1. Guaranteed issue whole life insurance
2. Face Amount range: $5,000 – $25,000
3. Age requirement: 50 – 85 years
4. Zero health questions or medical exam
5. Graded death benefit for the first 2 years
6. Accelerated Death Benefit Rider

Gerber Guaranteed Life

Gerber Life Insurance offers a guaranteed life insurance policy. Here is an overview of their policy:

1. Guaranteed issue whole life insurance
2. Face Amount range: $5,000 – $25,000
3. Age requirement: 50 – 80 years
4. Zero health questions or medical exam
5. NO Accelerated Death Benefit Rider

Great Western Guaranteed Assurance

Great Western Life Insurance company offers a guaranteed assurance policy. Here are the details for this policy:

1. Guaranteed issue whole life insurance
2. Face Amount range: $1,000 – $40,000
3. Age requirement: 40 – 80 years
4. Zero health questions or medical exam
5. Accelerated Death Benefit Rider with Assurance Plus product
   • Important – Assurance Plus includes 3 health questions during the application process

Alternatives to Life Insurance with No Questions About Health

Remember, guaranteed issue life insurance makes sense if you don’t qualify for other types of no exam life insurance.

While it’s convenient to skip the health questions, you will want to evaluate the best no physical life insurance companies first, to be sure you are purchasing the best policy to fit your needs.

For example, there are other types of life insurance that don’t require a physical exam, but will include some health questions:

1. No exam 20-year term life insurance
2. No exam whole life insurance
3. Graded benefit life insurance (only a few health questions, as opposed to zero health questions)

We recommend looking into other forms of coverage before settling on GI.

Here’s why – GI is expensive for the amount of coverage you are securing. If you are comfortable with at least a few health questions, you may be able to purchase a policy with a larger face amount that costs less.

Additionally, if you do not qualify for other forms of life insurance, but are too young for GI, look into an Accidental Death policy.

How to Apply for Life Insurance with No Health Questions

First, verify that a guaranteed issue policy is in your best interest. Review all of your life insurance options by collaborating with an independent agent.

There are two steps you need to take:

1. Fill out an instant quote.
2. Be ready to communicate your details for your life insurance application. Details include your name, address, social security number, and beneficiary information.

A life insurance policy with no health questions may be the perfect fit for you. We’ll evaluate your needs and options to make sure you are purchasing the best policy at the best price.

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