3 Best Guaranteed Issue Life Insurance Quotes Age 40
3 Best Guaranteed Issue Life Insurance Quotes Age 40
A no medical exam life insurance policy is a great option if you are in the market for new life insurance.
Companies that don’t require a medical exam for potential clients are different.
They can help eliminate the potential for getting denied coverage.
They often won’t deny you based on health conditions, age or other factors.
No medical exam life insurance policies come with beneficial time and convenience factors too.
Can I get life insurance with no medical exam and no waiting period?
No-exam (or similarly, guaranteed) Life Insurance is becoming more popular with each passing years and is provided by most major carriers.
The major appeal of this form of policy is that it is very convenient. You go online, fill out an application and receive coverage right on the spot. Here is a list of some of the benefits:
- It is very convenient
- Instant approval
- No tests
- No complicated forms
- 30 day money back guarantee
- Choice of 10, 20, or 30 year term
- No wait
- Easy to qualify
What is a Guaranteed Issue Life Insurance Age 40
Guaranteed issue insurance, in life insurance terms, means that a policy is guaranteed irrespective of the applicant’s medical condition.
It should be noted that there will still be certain requirements that must be met before an applicant will qualify for any type of guaranteed policy.
Guaranteed Issued with No Medical Exam and No Health Questions
These are the most expensive plans and are designed for individuals who are in poor health.
No matter what a persons health history is they are guaranteed acceptance.
Face amounts available from $5,000 to $25,000 for ages 40 to 90.
Most companies offer or include the following features: Chronic Illness Accelerated Benefit-if a person becomes chronically ill and can’t preform 2 of the 6 activities of daily living you will access up to 50% of the death benefit.
Terminally Illness Benefit: Allows access to 50% of the death benefit when a person has been diagnose as terminally ill.
This benefit varies from 6 to 24 months of life expectancy depending on the issuing insurance company.
Who should Apply for Guaranteed Issue Life Insurance?
If you are unlucky enough to suffer from, or have suffered from a pre-existing condition, then you may not even qualify at all.
These people can include those with diabetes, cancer, heart complaints or even those for whom genetics have deemed it likely to contract an illness.
For these individuals, no-exam life insurance is an alternative option.
What are the types of No-exam life insurance?3 Best Guaranteed Issue Life Insurance Quotes Age 40
Types of guaranteed life insurance can include:
- Graded Benefit: It is ideal for elderly persons, but not for the young as the underwriting process is complicated, they come with short payment terms and benefits time out.
Simplified Issue: These policies require no medical exam, but as mentioned above, do require a verbal declaration of health in order to complete the underwriting process. The application for a simplified issue policy only has a few simple health questions. If you answer the health questions with a no and fit within a height and weight chart a policy will be issued upon payment of your initial premium. The application has approximately 6 questions for major health conditions that a person has had treatment for in the last 24 months. If you have not had treatment for a major health condition like a heart attack within the last 24 months you would qualify for this policy. There are no medical exams, blood or urine tests required. Policy are issued for ages 40-90 and face amounts between $5,000 to $100,000. Simplified whole life policies offer fixed level premiums that are guaranteed not to increase even as you grow older. With the whole life option you’re guaranteed coverage for a lifetime. As long as you pay your premiums and the policy loans do not exceed the total cash value your coverage can not be terminated.
- Guaranteed Issue: Not technically a no-exam insurance, this will cost you more but will guarantee you a policy with no questions asked with regards to you health or medical history.
How to Apply for Guaranteed Issue Life Insurance age 40
When it comes to guaranteed Issue Life Insurance coverage you should know that you don’t have to answer any medical evaluation questions.
However, depending upon your case and circumstance you should know that there is a waiting period before the issuance of benefits.
As for graded death benefit life insurance coverage, it is almost similar to guaranteed issue life insurance coverage.
You will have to answer a few questions however and it costs a little less than guaranteed issue coverage.
Similar to term life insurance coverage, simplified issue term life insurance does not require any medical physical or evaluation.
But coverage is offered immediately to qualified applicants.
What Insurance Companies offer Guaranteed Issue Life Insurance Age 40
Companies that offer No Medical Exam Life Insurance for 40 year-olds
The list of companies that offer guaranteed Issue life insurance without taking a medical exam is growing every year.
This product was once only offered by very few providers.
Now large life insurance companies that offer many types of life insurance products are offering no medical exam term life insurance.
While the underwriting for no medical exam life insurance is mostly the same for each company, there are a few variations.
Each company has certain sweet spots or situations where they are superior to others and we can show which company will best fit your situation.
No exam life insurance is certainly convenient, but remember, the point isn’t really to skip the exam, but to get the best possible coverage for your loved ones.
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