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Term Life Insurance with no physical exam

If taking the life insurance physical has always been an obstacle for you, many no physical term life insurance policies out there that would be happy to have you.

Those exploring this option should know, no physical life insurance rates are typically higher than the rates of policies that do require a physical exam. From an insurer’s perspective, this makes sense because not having a physical exam to prove your medical condition means more risk for the insurers. Still, no physical life insurance can actually be a very affordable option for people with relatively poor health, compared to getting a plan that requires a physical and being priced based on their actual health.

If you haven’t been to the doctor’s office in quite some time (two years or longer), then no physical life insurance is likely the perfect option for you. Reason being, if you haven’t been to the doctor in years, you don’t really know what your medical condition is like. Sure, you may feel just fine, but there are still things that a physical could uncover that could cause your rates to skyrocket if they were exposed to the insurance company.

Now, don’t take this the wrong way, because we aren’t suggesting people to stay away from the doctor if they haven’t been in a while. We are simply saying that it may be beneficial to obtain one of the many no physical life insurance policies first. After that, we definitely recommend you get yourself to a doctor to get checked out to find any problems you may be currently experiencing. You won’t have to worry though, because your life insurance policy will already be locked in, so you don’t need to worry about the rates going up just because you have undergone a physical, no matter what the results are.

Another huge benefit of no physical life insurance, is that you can be issued your policy in as little as 24 hours. When compared to the four to six weeks that are usually required for one to be approved for the plans that do require a physical, this is lightning fast.  Some carriers have immediate decisions, others within 24-48 hours and others within 10 business days – it all depends on the carrier that you use.

If you are trying to fund an SBA load, this can come in extremely handy. Since most SBA loans require some type of life insurance to be funded, and the borrower won’t receive their funds until a policy is secured, you can see your money much quicker by making use of no physical life insurance. Having an option to secure life insurance in 24 hours and getting your money fast, is obviously preferable to undergoing a physical and then waiting up to six weeks just to get approved. Of course, your money would be held in limbo for all that time.

If you are just shopping around at this point, it is still quite easy to get no physical life insurance quotes. We offer tools on our site that will ask you a couple of very simple “Yes” or “No” health-related questions and can return back the quotes to you instantly. As stated above, no physical life insurance rates will be more expensive, but also as explained above, there are numerous benefits to exploring such a route.

To some, it might seem quite backwards on the part of the insurance companies to be approving people without requiring a medical exam or physical first, but that doesn’t stop them from being overjoyed about the fact that they can finally obtain life insurance.

There are a few stipulations with these types of no physical term life insurance policies that should be understood too. Certain plans will not give full coverage for the first two years of the policy, likely to prevent truly sick people from applying for life insurance knowing they will just be cashing in soon. Others might have age limitations that a person must meet before being approved. Obviously the older you are, the closer you are to the age the insurance company sets as a cut-off.

So if the thought of applying for life insurance has been stressing you out, thinking you need to undergo a physical, just know that you do have other options. Remember, as always, if you have any questions at all about the different policies available to you, please don’t hesitate to contact us.