Non Medical Life Insurance
Non Medical Life Insurance is a very fast and easy way to obtain life insurance. Generally Non Medical Life Insurance is underwritten in less than 5 working days therefore making it the fastest way to have a life insurance policy issued. This is because no medical exams are required and neither are APS’s. An APS is an Attending Physician Statement. These are frequently required when needing to take a medical exam. This process can take anywhere from two weeks to two months to obtain. It is for this reason that Non Medical Life Insurance is beneficial.
On the flip side because the underwriting is not as extensive as a traditional medically underwritten life insurance policy the premium is on average 10%-15% higher. However the convenience factor alone makes this cost difference well worth it. When thinking of Non Medical Life Insurance generally speaking it is always Term Life Insurance. There are some Life Insurance Companies that now offer non medical universal life insurance. One such company is fidelity. However it is a fairly new product offering and has not yet gained any speed in the non medical life insurance market place. When taking out a Life Insurance policy for the first time or for an elderly parent or sibling a lot of time it makes great sense to look at purchasing a Non Medical Life Insurance policy. It is fast easy and painless.
There are some stipulations to keep in mind when looking to purchase a Non Medical Life Insurance policy. Age plays a factor. Usually the maximum amount of Non Medical Life Insurance a person can purchase is $300,000 up to the age of 45. From age 46 – 65 it is $200,000. From age 66 – 70 it drops to $100,000 and from age 71-75 it is $50,000. Lastly age 75 and older is $25,000 with one company. These are the maximum amounts Life Insurance are willing to insure without a medical exam considering that limits the amount of underwriting that can be done.
Use our quote form above to compare your Non Medical Life Insurance rates. Our goal is to provide you with as much information as possible to assist you in the purchase of your life insurance policy. This service is free of charge. We encourage you to call and speak to one of our experienced licensed Life Insurance agents. Life Insurance requires specific information to create a personalized quote.
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Life Insurance Non Medical
Questions and Answers
- Q1: How much Life Insurance can I purchase without having to take a medical?
A: Usually the maximum is $300,000 with most companies.
- Q2: Is it easier to get approved without having to take a medical?
A: It isn’t exactly easier, however if you are fairly healthy it is definitely a lot faster.
- Q3: What is the process in obtaining a Non Medical Life Insurance policy?
A: It is a simple 2 page application with 10-15 health questions.