It’s not uncommon for people to be turned down for term life insurance because their health history is less than perfect. A previous medical condition, serious medical event like a heart attack or recent diagnosis can put you in the insurance companies’ high risk category and either eliminate your chances of finding a policy that’s affordable or being accepted all together. But all is not lost. There are solutions for those whose health have made it more difficult for them to find and buy the life insurance coverage without a medical exam they want and need. The solution? Life insurance without medical exam.
Basically, this type of life insurance policy allows the applicant to skip over the medical exam that’s a compulsory aspect of every other life insurance policy application process. In most cases, the applicant won’t even have to answer questions about their health history. The catch? Life insurance without medical exam costs more, sometimes significantly more, than regular term life insurance or permanent policies. This means that unless you’ve really exhausted your other options and still haven’t found an insurance company that will accept you with a regular policy, this may be a good alternative. After all, it’s better to have life insurance coverage and pay more for it than to go without it, wouldn’t you agree?
If you’ve recently had a heart attack, stroke or other serious medical event, there is a way you may be able to get around having to purchase life insurance without medical exam. The trick is to wait at least a year, even two, after your heart attack, stroke, etc. before applying for life insurance. As time passes and you have favorable check-ups, you’re likely to be viewed as less of a risk by the insurance companies. You may then be able to apply for a regular policy with better success.
If you have questions about shopping for a life insurance policy that doesn’t require a medical examination, don’t hesitate to contact our team of insurance agents. We’re happy to answer any questions or even to help you find the provider who will best serve your coverage needs. Contact us today and let’s put your insurance plans into motion.