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Is there a Houston TX life insurance without medical exam option available to you? Perhaps. Depending on your situation, you could qualify for one. Talk with an insurance agent today to see if you do or don’t. Contact the experts at Best Life Insurance Houston Agency for all your options.
Houston TX Life Insurance Without Medical Exam
When applying for insurance, most companies will ask that you go through a medical exam. That in itself is an arduous and lengthy process, including going through a 20 to 45 minute physical and answering several medical questions. Sometimes, you don’t have that time, and you need coverage sooner.
In that case, life insurance that doesn’t need a medical exam will benefit you. However, because the insurance company won’t know much about you, the coverage you can get will be lower than if you went through with the exam.
Are there more options with medical exam life insurance?
Insurance companies are in the risk management business. The more risks your life may have due to lifestyle choices or medical history, the more companies have to be on guard. They usually require a medical exam to minimize the risks they and you have to take.
The more they know about you, the more affordable options they can offer that will suit you and your family’s situation. They’ll know your age, lifestyle choices, and personal and family health history. Anything considered a risk would be factored into determining your eligibility and the rates and premiums.
In some cases, if you take the medical exam when it’s optional, you may be able to increase the death benefit amount. However, this may vary by policy.
The medical exam itself is usually 20 to 45 minutes, depending. It’s like an annual physical. A technician or nurse will check the standard vital signs, maybe take a blood or urine sample, and it isn’t too tricky.
You’ll need to answer some personal medical questions as you go through it. The more truthful you are about your answers, the better off you’ll be.
What You Should Know!
Are there tradeoffs with life insurance without a medical exam? Well, it’ll depend on how much you want to pay for life insurance. If you wish to spend less, you should consider taking the medical exam anyway, especially if you’re healthy.
The amount of coverage you can buy will depend on the policy you choose. Typically, it’ll be less than what you could get if you take the medical exam. The companies have to factor in any unknown risks when they offer you a rate for no-exam coverage.
Are there instances where you can skip a medical exam?
Yes, there are instances where you can skip going through past the medical exam. When you send in your application, some companies will inform you that you have the option to. In other cases, you may be able to supplement the exam with previous medical records and answering some perfunctory medical questions instead.
In most cases, if you have the option to skip the medical exam, you’re still in good health with no pre-existing conditions. You probably also don’t have any dangerous hobbies like sky diving and are below 45. If none of that fits you, you may have to rethink not going through with the exam.
Simplified Issue Life Insurance
What is simplified issue life insurance? It’s similar to traditional life insurance. However, instead of going through the exam, you’ll answer a short questionnaire about your health instead.
The insurance company makes a decision. You skip the exam. And at that point, you either get the coverage you need, or you don’t.
Like traditional term life insurance, the coverage is temporary if you choose term life without a medical exam. The policy will last anywhere from a year to a few decades, depending on what you prefer. The death benefit is guaranteed during the policy period, but past that, you’ll need to renew the policy or find a new one.
This insurance plan is optimal if you don’t have any complex health conditions or risky hobbies. Like other term life plans, these are usually the most affordable option.
Whole insurance plans without a medical exam come with low coverage and higher premiums. The coverage will last for a lifetime so long as you pay the premiums. This option is better if you’re older or have poor health issues with a need for coverage.
The Last Resort: Guaranteed Issue Life Insurance
Now, there’s guaranteed issue life insurance for those who know they’ll get denied from any regular coverage plans. Regardless of your medical conditions, you’re automatically accepted, no exam is required. Most of the people who resort to guaranteed issue life insurance don’t have other options. That’s the reason why it’s considered a last resort.
Coverage is limited. The death benefit is usually much lower than other types of insurance. Typically, it’ll only cover the burial and funeral, small debts, and remaining medical bills. If you were thinking about using it for significant finances, you’re better off trying different insurance plans.
Guaranteed issue life insurance also has something called “graded death benefit.” Long explanation short, it means there’s a waiting period before it takes effect. The waiting period is usually between two to three years; it serves as protection against people whose life expectancy isn’t much longer.
If the inevitable happens before the waiting period is up, your dependents may not receive the full death benefit. However, it is considered a type of permanent life insurance. So once it does take effect, it will last the rest of your lifetime.
Are you going ahead without the medical exam?
Skipping the medical exam is a viable option if you’re in good health. If you already know that you don’t have any issues with your health or your hobbies, then ask your insurance agent if it’s possible.
Sit down with any of the experts at Best Life Insurance Houston Agency and ask about all the Houston TX life insurance without medical exam options for you.
Houston, TX Fun Facts:
- The Hubcap Grill has a sinfully scrumptious Cheetos burger—a beef patty topped with crunchy Cheetos and, as if that wasn’t enough, finished with a cheesy sauce.
- The Viet Hoa supermarket offers a massive collection of hard-to-find International foods, including…live frogs?
- The population of Houston is around 2.30 million people.
- For more fun facts check this out!