term life insurance no medical exam

If you aren't eligible for fully insured life insurance but need more coverage than $50,000, a no-medical exam term life policy might be the best option. Term policies are among the least expensive forms of no-medical examination insurance. No medical exam policy policies offer term lengths that exceed 30 years. These policies can generally be purchased until 75. However, some insurance companies restrict term lengths on the basis of age.

The cost of life insurance depends on many factors, including your age, health, and the specifics of your policy, but a healthy 35-year-old could expect to pay between $25 and $30 per month for a 20-year, $500,000 term life policy. Rates are five to 15 times higher if you buy cash value life insurance, like whole or universal life insurance.

Because term life covers only a specific period and is generally less expensive than permanent life insurance, it's an excellent choice for young families looking for temporary coverage. For example, you can buy a policy to cover the years your family relies on you financially and lower your coverage when your children become self-sufficient—a policy.

Two types are standard life insurance policies, the simplified issue and the guaranteed issue. Understanding their differences can help to decide which no-medical exam insurance policy will be best for you.

Honesty is key, no matter what questions are asked. If they discover that you have lied or misrepresented any information, insurance companies can cancel your policy. Even if there is no health exam, insurance companies still have many ways to verify the information you give. Insurance companies check your responses against Prescription databases and The Department of Motor Vehicles. They also examine statements from physicians.