Guaranteed issue life insurance does not require you to undergo a medical exam. Only a few questions are required to determine your medical history for guaranteed issue policies.
A level policy is the most common type. It is the death benefit that is paid for term policies. It is also possible for the benefit to decrease over time. This usually happens in one-year increments.
Convenience: If you don't want the hassle of a medical exam, simplified insurance can be a good choice. Recent research has shown that 47% of Americans prefer to purchase life insurance via a simplified process.
Term life insurance is a great option. You can see how much coverage you are eligible for and what the cost could be by answering a few questions. If you like the information we have provided, we can help guide you through the next steps to ensure you are covered.
Reminder: It is important to disclose any medical conditions while applying for a policy. If you fail to disclose something after your death, your policy may be cancelled. If this happens, your beneficiaries may not receive the death benefits you had in mind.
Online life insurance is sometimes possible without having to undergo a medical exam. Term coverage does NOT build cash value. Most families find term life sufficient.
Two types are standard life insurance policies, the simplified issue and the guaranteed issue. Understanding their differences can help to decide which no-medical exam insurance policy will be best for you.
Term coverage offers temporary financial protection to your loved ones during your working years, when insurance costs are typically lower. The death benefit of the policy pays money directly to beneficiaries to pay funeral costs, ongoing financial obligations such as future mortgage payments, education and daily living expenses.
If you're looking for something specific, the guaranteed issue could be a good fit.
Coverage for final needs. People often use the guaranteed insurance as a last expense insurance. It can cover your funeral expenses, related medical bills, or pay off end of life debts. You may be able to leave a small inheritance for your children or grandchildren by securing a guaranteed issue.
How much term life insurance coverage do you need? It depends on your financial situation, income, debts, family needs, and future financial obligations. A good rule of thumb is to have coverage that's 5-10 times your annual income.
Term life insurance is a policy that provides coverage for a set period, like 10, 20, or 30 years. If the policyholder passes away during this time, their beneficiaries receive a death benefit.