Best No Medical Life Insurance over 50

Best No Medical Life Insurance over 50

If you’re looking ahead, it’s never too early to prepare for a time when you’re no longer around – having a plan in place means the people you care about could be protected financially when you die.

Nobody really wants to plan for the end of their life, but it’s a necessary step to make sure that your loved ones are taken care of if the worst should happen.

And, as we’re in the midst of a pandemic that is riskier for older people, there’s never been a better time to review your options. 

Life Insurance is designed to provide financial support to your loved ones when you pass away.

The type of cover you need and the options you have come down to 3 key areas. Your age, your general health and the reason why you want Life Insurance.

If you require a smaller lump sum from your life insurance, for example, to cover some funeral expenses, then a Life Insurance over 50 no medical exam policy could be the answer.

These policies do not ask any medical questions, so acceptance is guaranteed for all.


What is No Medical Exam for over 50

Life insurance No Medical Exam over 50 allow you to pay a monthly premium and then will pay a lump sum when you die, which can be used by your family to go towards funeral costs. 

This is generally available to anyone between the ages of 50-89. 

The benefit of such a policy is that you have the peace of mind that your family will receive a fixed amount of money when you die. 


Can I take out an over 50’s Insurance no Medical Insurance


Life Insurance No Medical Exam is a life insurance policy that doesn’t require a medical exam and has no waiting period for approval.

As the name implies, no medical exam life insurance gives you the same benefits of a traditional life insurance policy, all without an exam.

Life Insurance over 50 No medical Exam Cost

To get the best deal on life insurance over 50 , you’ll need to find the lowest-priced policy that meets all your needs.

You’ll also need to review your policy regularly to make sure it continues to give you the coverage you require.

While it is possible to shop around yourself, one of the best things you can do to is to talk to a life insurance broker.

A broker will spend time getting to know your needs and then recommend a few options that will best suit you.

With their access to industry knowledge and exclusive deals, they will probably be able to offer products that you wouldn’t be able to find on your own.

How Much Life Insurance over 50 cover do I need?

Simply going online and picking a lump-sum amount a lot of the time isn’t suitable and is the has no rationale behind it this is one of the main benefits of using an advisor he will talk you through your situation and be able to advise you accordingly with an appropriate pay out.

The average cost of a funeral today is approximately $10000 so it’s no wonder that more and more people are putting steps in place to pay for their own funeral.

Life Insurance over 50 No Exam: Who is it for?

Life insurance over 50 no exam always seems like the most no fuss insurance choice for those who hear about it for the first time.

Guaranteed life insurance with no health questions can cover all complicated cases with pre-existing health conditions such as:

  • Alcohol or Drug Abuse
  •  Depression
  • Obesity
  •  Insulin treated diabetes
  •  Cancer
  • Heart Failure
  •  HIV
  • Multiple Sclerosis
  • Alzheimer’s Disease
  • Other serious pre-conditions

Types of Life Insurance over 50 No Exam

Simplified Issue Life Insurance over 50

Simplified issue life insurance policies don’t require a medical exam. Applicants usually only have to answer a handful of questions, which might include:

  • Are you currently in a hospital, nursing home, assisted living facility or prison?
  • Have you ever tested positive for HIV or been diagnosed with AIDS?
  • Have you ever tested positive for, or been diagnosed with, Alzheimer’s or dementia, emphysema or Chronic Obstructive Pulmonary Disease (COPD)?
  • In the past 24 months have you been diagnosed with, or told to get treatment for, cancer (except basal cell carcinoma), heart attack, stroke or TIA (Transient Ischemic Attack), or alcohol or drug treatment?
  • In the past 24 months has your driver’s license suspended or revoked? Have you been convicted of two or more moving violations, or been convicted of driving while intoxicated or under the influence, or convicted of driving while impaired because of the use of alcohol and/or drugs?


You can be turned down for a simplified issue policy. Insurers use data modeling to determine whether to issue you a policy based on the information you provide and information from third-party sources. If you’re applying for coverage with an online application, the decision might be instant, or you might have to verify answers on your application with a follow-up phone call before a coverage decision is made.

Guaranteed Issue Life Insurance over 50

Guaranteed issue life insurance can provide life insurance to certain people who need life insurance but don’t have any other options. Perhaps they want to provide money for heirs to pay for a funeral or final expenses. Or perhaps they want to provide a small legacy for children or grandchildren.

Guaranteed Issue Life Insurance doesn’t require a medical exam or questions, and you can’t be turned down—hence the name guaranteed issue.

Often, age is the only restriction for getting coverage.

Guaranteed issue insurance is targeted to older adults to help cover the cost of final expenses such as burial.

Because anyone can get guaranteed issue life insurance regardless of health, coverage amounts tend to be limited to $25,000 or less. And the cost is much more expensive per every thousand dollars of coverage, Erlebacher says.  These policies also have what are called graded death benefits. The death benefit will be limited if a policyholder dies within two years of getting coverage (except for accidental deaths, such as a car accident). Often, the insurer will refund 110% to 120% of the premiums paid—essentially, reimbursing beneficiaries for what the policyholder paid in, with some interest.

Graded death benefits protect insurers from people who buy policies who are already in poor health.

Which Life Insurance over 50 No Exam is best for my situation?

A simplified issue policy might make sense for those who don’t need as much coverage and are willing to pay more for the convenience of a no-exam policy.

And a guaranteed issue policy can be a way for older adults with health issues to get a little coverage that will help loved ones cover the costs of their final expenses.

Why Buy Life Insurance over 50 No Exam

Medical and funeral costs are on the rise with funeral and burial costs today averaging between $6,000-10,000.

Funeral with Burial: $8,508

  • Metal Casket – $2,395
  • Basic Services Fee – $2,000
  • Vault – $1,327
  • Embalming – $695
  • Facilities/Staff for Ceremony – $495
  • Facilities/Staff for Viewing – $420
  • Hearse – $318
  • Removal or Transfer of Remains – $310
  • Miscellaneous Preparation – $250
  • Printing for Memorial – $155
  • Service Vehicle(s) – $143

Funeral with Cremation: $6,078

  • Basic Services Fee – $2,000
  • Cremation Casket – $1,000
  • Embalming – $695
  • Facilities/Staff for Ceremony – $495
  • Facilities/Staff for Viewing – $420
  • Third-party Cremation Fee – $330
  • Removal or Transfer of Remains – $310
  • Urn – $280
  • Miscellaneous Preparation – $250
  • Printing for Memorial – $155
  • Service Vehicle(s) – $143

Losing a loved one can be an emotional heartache. Life Insurance over 50 No Exam makes sure it is doesn’t become a financial headache.

WELCOME TO Mintco Financial

Mintco Financial Team is a leader in providing individuals with the best insurance solutions to meet their needs.

We are located in Florida and NY but serving customers all over the country. We make Insurance simple.

We’ve successfully served hundreds of customers, and are determined to treat each individual with respect and compassion.

Our staff does the work for you. We keep insurance simple. You ask we deliver, knowing that our insurance professionals have your back takes the worry off of you.


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