3 Best Options No Exam Life Insurance Seniors 2019
There are 3 Best Options No Exam Life Insurance Seniors 2019
- Guaranteed Issued with No Medical Exam and No Health Questions:
Guaranteed issue life insurance policy is usually best for an elderly client who would not be able to qualify for a standard policy.
These are the most expensive plans and are designed for senior citizens who are in poor health.
No matter what a person’s health history is they are guaranteed acceptance.
Face amounts available from $5,000 to $25,000 for ages 45 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.
- Simplified Issue with No Medical Exam:
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.
- Standard Issue Life Insurance with No Medical Exam:
Standard issue plans are a good option for a person who simply doesn’t like going through the process of taking a medical exam with blood and urine test.
Standard issue plans offer face amounts up to $1,000,000. Policies are available for people between the ages of 18-65.
A person will need to have a good health history and answer several medical questions to qualify.
The policy will be fully medically underwritten by the insurance company. If approved policies are issued and your coverage is in force as little as 24 to 48 hours.
We can complete your application by phone and have you sign it electronically. You will save a lot of time and the cost is not that much more than a regular term policy.
Should I Get a No-exam Life Insurance Policy?
If you’re a senior with health issues, you might be wondering if you qualify for life insurance at all. Fortunately, the answer to that question is yes.
No-exam life insurance is exactly what its name describes. You don’t have to undergo a medical exam to get coverage, so medical problems aren’t going to keep you from getting coverage.
Of course, insurance companies take on more risk with no-exam policies, so they typically cost more than policies that require an exam.
So, if you have medical issues, it may be best to consider a no-exam policy. But if you’re relatively healthy, take the medical exam and save some money.
3 Top Questions Life Insurance Seniors
Question: You list no medical life insurance but don’t I have to answer a long list of medical questions…questions designed to eliminate an applicant that is likely to develop a serious health condition?? If you determine that I have a serious health condition…then what? how does my monthly premium differ percentage wise vs. someone who, answered the same questions but was not found to have a serious health condition??
Answer: Simplified Issue plans are essentially instant issue plan if you answer “no” to the questions you qualify if you can’t answer ‘No” to a given question we would search for an alternative Simplified Issue plan with less questions or a Guarantee issue plan with no questions.
Question: Where can an 80 year woman get whole life insurance?
Answer; Please go to www.MintcoFinancial.com or call 813-964-7100
Question: I wasn’t aware that people up to 90 years of age can get life insurance. Does the coverage have a waiting period on the death benefit and how much per thousand?
Answer: There are plans available without a waiting period. The cost depends on the gender and smoking status as well as the insurance carrier.
Compare No Medical Exam Life Insurance Quote 2019
Something that many people are not aware of is that not all life insurance companies are alike when it comes to underwriting their applicants. This is especially the case when it comes to applicants who are in their 80s and may be more prone to various health issues.