No Exam Life Insurance
Life insurance policies with no health exams?
There are two types of life insurance that are offered without health exams; guaranteed issue and simplified issue.
With simplified issue underwriting there are just some basic yes or no questions about your health. If you qualify based on the answers to those questions the policy will be issued with no medical exam.
The other type of policy is guaranteed issue where all applications are approved regardless of health. With this type of policy the amount of coverage available is low and benefits are limited in the first two to three years.
The insurers are fully aware that applicants who want to avoid medical exams are going to be a higher risk category of applicants. So these policies will be much more expensive.
