Is no medical exam life insurance worth it?

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What is no medical exam life insurance?

No medical exam life insurance offers the same type of coverage as traditional term life insurance, but the process for getting covered is much quicker because it doesn’t require an exam. For most types of life insurance, a medical exam is required to determine the final rate you’ll pay, making the approval process as long as 12 weeks. With SelectQuote, you can get covered in under an hour with our hassle-free no medical exam life insurance.

What are the benefits of no medical exam life insurance?

While the primary benefit of no medical exam life insurance is the fast approval process, additional benefits of shopping for no medical exam coverage with SelectQuote include:

  • Convenience – There’s no paperwork necessary, as the application process is all handled online and directly with an experienced life insurance agent.
  • Affordable – You can expect fully underwritten insurance rates, with many coverage options as low as $1 a day.
  • High Quality – We’ve been helping families find the right life insurance to meet their needs for more than 35 years and work with some of the most trusted insurance companies in the nation.

Possible Cons of No Medical Exam Life Insurance

Lower insurance coverage amounts are a typical drawback of no medical exam life insurance. However, at SelectQuote, we can help you find up to $2 million in same-day coverage. Same-day coverage can be beneficial for individuals looking to get covered fast, whether you need additional insurance to ensure your loved ones are protected or are shopping for life insurance for the first time.

Who can qualify for no medical exam life insurance?

If you’re in generally good health and 60 years old or younger, there’s a good chance you’ll be able to qualify and be approved for instant decision life insurance on the same day you apply. We can streamline the process to help most applicants get approval in under an hour.

Here’s an example of the additional information needed when applying for no medical exam life insurance:

  • Pharmacy Report – Typically lists all of the medications you’ve been prescribed over a certain number of years
  • Motor Vehicle Department Report – Also known as your driving record
  • Medical Insurance Bureau Report – This is typically used if you’ve applied for or been denied life insurance before
  • Credit/Financial History – This can include how long you’ve had credit, the number of times you’ve applied for new accounts, your loan-to-debt ratio, etc.

If you find you’re unable to qualify for no medical exam life insurance, we can help you shop for a policy that’s right for both your needs and your budget, with other accelerated underwriting options available.

How do I know if no medical exam life insurance is worth it?

An affordable no medical exam life insurance policy is a good option for healthy customers who want immediate coverage. With the cost of everything on the rise, you may have realized you need more insurance to protect your loved ones financially in case of your untimely death. Life insurance can help also pay for:

  • End-of-life expenses, such as funerals, burial costs or outstanding medical bills
  • Other personal debt, such as credit card bills and outstanding loans
  • Tuition payments
  • Mortgage payments
  • Day-to-day living expenses, like groceries and utilities

For all of these reasons and more, no medical exam life insurance is a no-hassle way to ensure your family has a financial safety net. At SelectQuote, you can find the same quality life insurance we’ve been offering our customers for more than 35 years, but now easier and more convenient than ever with our instant coverage insurance option.

Learn More About No Medical Exam Life Insurance with SelectQuote

The process of purchasing life insurance just got easier with SelectQuote. In less than an hour, we can help you compare your options for life insurance—including no medical exam life insurance—to help you determine the right policy for you. We’ll get to know your needs to help you find the right coverage with the right carrier at the right price. Skip the medical exam and the wait by shopping for same-day coverage with SelectQuote. 

We do the shopping. You do the saving.