Some insurance companies may offer life insurance policies options without a medical exam. It’s a great option if you’d like life insurance as fast as possible and don’t want to wait weeks or months for approval. Let’s dive deeper into this type of insurance so you can decide if this type of policy makes sense for you.
When you apply for many traditional types of life insurance, you’re required to undergo a medical exam. This typically extends the underwriting process to 45 or even 60 days.1 But you may be able to apply for life insurance without a medical exam, and simply answer several questions about your health and lifestyle.
Depending on the insurance company, you can get approved instantly and move forward with your coverage right away. A policy without a medical exam is a permanent policy, meaning it offers coverage for your whole life.2
Life insurance companies perform medical exams to get an idea of how risky prospective policyholders may be. If you opt for the other option, an insurer won’t have the opportunity to evaluate your risk based on a medical exam. As a result, they’ll likely charge more for your premiums to help protect themselves. You can expect to pay more for this type of insurance than traditional term life insurance or whole life insurance.
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Here’s a look at the benefits and drawbacks:2
Whether you don’t want to deal with a medical professional or are worried that a medical exam will reveal an underlying problem, you can apply for some life policies without the exam. All you have to do is answer some questions about your health.
Sometimes, you can avoid a long underwriting process. You might even get approved for a policy in minutes and receive coverage immediately, depending on the type of policy Remember there are limitations, exclusions and state regulations.
Since an insurer won’t have a lot of information about your health, you may have to settle for a smaller coverage amount. Many companies cap coverage at $40,000 to $50,000.2
It’s difficult for an insurance company to assess how risky of a policyholder you might be if you don’t go through a medical exam. This is why they’ll charge you more for your premiums.
You may want to consider this type of life insurance if any of these situations apply to you:
If you don’t believe this type of life insurance is a good fit, you may want to explore these alternative options:
Guaranteed issue life insurance doesn’t require a medical exam. It differs from simplified issue life insurance, however, because it allows you to skip health questions as well. This type of policy guarantees approval, just like its name implies.
Final expense life insurance is more generally less expensive than simplified issue life insurance. It’s designed to help loved ones cover end-of-life expenses, such as funeral and burial costs, medical bills, and legal and accounting fees. Aflac offers final expense life insurance for policyholders that want to help cover these final expenses.
Term life insurance offers coverage for a certain time period, such as 20 or 30 years, and pays out a death benefit in the event you pass away while the policy is active. You can get a term life insurance policy from Aflac with coverage that fits your unique needs.
Whole life insurance provides coverage for life. This type of policy also comes with a cash value component that grows tax-deferred over time. The cash value can help you keep your savings, and you may have the option to withdraw or borrow from it. Aflac offers whole life insurance for people who want substantial lifelong coverage.
If you’d like a life insurance policy but don’t want to go through a medical exam, simplified issue life insurance is one option. In return for instant or fast approval, however, you will have to pay higher premiums.
Aflac offers plans that fit most budgets that are guaranteed issue term and whole life insurance plans, which allow you to skip a medical exam and health questions. With these policies, you can receive quick coverage and help gain peace of mind. Contact an agent today to get a quote or receive more information.
Explore your life insurance options.
1 Forbes - How Simplified Issue Life Insurance Works. Updated July 6, 2022. https://www.forbes.com/advisor/life-insurance/simplified-issue/. Accessed April 26, 2023.
2 Policygenius - Simplified Issue Life Insurance. Updated May 24, 2022. https://www.policygenius.com/life-insurance/simplified-whole-life-insurance/. Accessed April 26, 2023.
Coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
68000 series: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas, & Virginia, Policies: ICC1368100, ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68100-A68400. In New York, NY68100-NY68400.65000 series: In Virginia, Policies ICC0965JTO & ICC0965JWO. B61000 series: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas, & Virginia, Policies: ICC18B61JWO & ICC18B61JTO. In Delaware, Policies B61JWO, B61JTO. B60000 series: In Arkansas, Idaho, Oklahoma, Pennsylvania, Texas, & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Q60000 series: Whole: In Arkansas, Delaware & Oregon, Policy Q60100M. In Idaho Policy Q60100MID. In Oklahoma, Policy Q60100MOK. In Texas, Policy Q60100MTX.Q60000 series: Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Oregon, Texas, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C.
Final Expense insurance coverage is underwritten by Tier One Insurance Company.
The life insurance policy described herein contains an optional Accelerated Death Benefits Rider that is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code. Aflac does not give legal or tax advice. Please consult with a qualified legal, tax, and accounting advisor before engaging in any transaction. In AR, AZ, ID, OK, OR, PA, TX and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908).
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions. For complete details, including availability and costs, please contact your local Aflac agent.
Content within this article is for informational purposes only and does not constitute legal, tax, accounting or medical advice regarding any specific situation. Aflac cannot anticipate all the facts that a particular employer will have to consider in their benefits decision-making process.
Aflac does not offer Universal or Variable Universal life insurance.
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