Every life insurance plan should be selected with your unique needs and preferences in mind. At times, finalizing a life insurance policy can involve many steps. A strong option for those hoping to expedite the process is no medical exam life insurance.
No medical exam life insurance may be able to help you find better rates and coverage options if planned correctly, in addition to accelerating the process. Depending on your coverage goals and lifestyle habits, life insurance with no medical tests may be a good route for you. This can be appealing for many reasons, other than speed. Read on to learn more about no medical exam life insurance and whether this option is right for you or a loved one.
No medical exam life insurance does not require potential policyholders to undergo any medical exams before getting a policy, speeding up the process as a whole. You may be able to skip the medical exam step found in traditional life insurance underwriting if your age and the life insurance company you choose allow it. In some spaces, it may be referred to as no medical life insurance.
Some life insurance companies require a medical assessment, but this isn’t always the case. At Aflac, you may be able to get life insurance without a medical exam, depending on the state you are from, your age and the plan you are interested in. In certain instances, we offer guaranteed-issue life insurance plans with no medical questions to those who qualify. We recommend chatting with an Aflac agent to see if this option is available for you.
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Having life insurance without a medical exam is available in a few different forms. You may be able to access this feature in a term or whole life insurance policy, both offered at Aflac. Each type of plan has its own strengths and weaknesses to be considered. It is not guaranteed that you will be able to own an Aflac plan without any medical exam.
Term life insurance provides life insurance coverage for a specific period of time. Usually, payments for term life insurance aren’t as expensive as whole life insurance and they stay constant the entire life of the policy. This may make it a strong choice for younger families hoping to save money on premiums. However, the policyholder must pass during the determined term for the beneficiary to receive the death benefit.
Term life insurance may also be favorable for seniors who are getting more serious about long-term planning. In both cases, term life insurance with no medical exam may prove beneficial, especially if you have a general idea of how long you’ll need coverage for.
On the other hand, whole life insurance provides coverage for the entire life of the policyholder. This type of permanent life insurance tends to cost more, but the death benefit is certain. Typically, premiums will stay consistent throughout the length of the policy, and your plan may have the ability to accumulate cash value in a separate savings account.1
Whole life insurance may be a good choice for those looking to provide added financial security for family members. It also may be useful for those exploring new investment opportunities. Whole life insurance plans typically have a cash-value portion that grows in a tax-deferred account at a secured rate.1 In some cases, you may be able to borrow against this value, making it a useful investment.2
Whatever the occasion, whole life insurance without a medical exam can make the process simpler, while helping to ensure long-lasting support.
Like all life insurance policies, the cost of no medical exam life insurance is based on a variety of factors like age, lifestyle, coverage goals, and medical history. Even if you opt for life insurance with no medical exam, your provider may still ask medical questions or use past medical records to make an assessment.
Typically, life insurance costs tend to rise as you age.2 Having or not having a medical exam done during the underwriting of your plan may also influence the cost of your plan. However, costs are normalizing as the industry evolves and more people try to avoid in-person appointments.3 Try our life insurance calculator to get an idea of what your costs might look like.
There are a few specific instances where getting a life insurance policy without a medical exam may be extra helpful. Here are a few example scenarios:
At Aflac, you may be able to get a term or whole life insurance without medical questions or exams. Both factors depend on your location, your age, and the available plan options. Chat with an Aflac agent and see if this option is convenient for your needs and accessible.
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1 Investopedia. Whole Life Insurance Definition. Updated September 07, 2022. https://www.investopedia.com/terms/w/wholelife.asp. Accessed November 16, 2022.
2 Investopedia. Cash Value Life Insurance. Updated May 23, 2022. https://www.investopedia.com/terms/c/cash-value-life-insurance.asp. Accessed November 16, 2022.
3 Ramsey Solutions. Life Insurance With No Medical Exam? Updated November 3, 2022. https://www.ramseysolutions.com/insurance/life-insurance-no-medical-exam. Accessed November 16, 2022.
This is a brief product overview only. Coverage may not be available in all states including but not limited to ID, NJ, NM, NY, or VA. Benefits/premium rates may vary based on plan selected. Optional riders may be available at an additional cost. Policies and riders have limitations and exclusions that may affect benefits payable. For costs and complete details of the coverage, please contact your local Aflac agent. Whole & Term Life A68000 Series – In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas, and Virginia, Policies: ICC1368100, ICC1368200, ICC1368300, ICC1368400 and Riders: ICC1368050, ICC1368051, ICC1368052, ICC1368053, ICC1368054, ICC1368055.
Aflac insurance coverage is underwritten by Aflac. In New York, coverage underwritten by Aflac New York.
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