Best Life Insurance Without a Medical Exam
Getting the best possible price on life insurance without a medical exam seems to be fairly easy. You can just go online, enter your personal information into a quoting system, get a quote then apply. Not really! There is a big difference between getting a quote and getting approved. There are so many no exam life insurance companies that getting the best life insurance plan without an exam may take a bit more work than you expect.
For example, we had a healthy man who called us to get a quote for life insurance. We gave him some quotes but he said he got a better rate online. About one hour later, he called us back and told us that the great quote he had gotten online had almost tripled after he had filled out the online application. He said he could not understand as he had answered no to all the health questions and should have been able to qualify for the lowest rates. We explained that, what most likely happened was that he had an MIB (see our MIB article) or some other record that may have brought his rates up. We had also warned him that the company he selected often gave very low quotes but final rates were often much higher after the application had been filled out. What to do?
That is when a good insurance consultant comes into play. The agent needs to have a good knowledge about no medical exam life insurance and should have access to several companies and plans. To find you the best life insurance without a medical exam, he/she should ask you questions about your personal history and about the length of time you will need the insurance. He should also help you help you narrow it down to the no exam life insurance plan that is most likely to get you an approval at lowest possible rates. And not just the one that quotes the lowest.
A word of caution, do not disregard plans that require a paper application. Very often, these plans are better priced and easier to get approved on – particularly if you have or have had health issues. Having to fill out an application does not always mean that medical records will be ordered but it is more likely. If you don’t want to wait for your medical records to be ordered, make sure to mention it to your agent that you do not want a company that orders records. If you want the best life insurance without a medical exam though, sometimes, requesting medical records will get you qualified for better final rates (although underwriting may take much longer).
We hope that this short article will help you get the best possible rates in no exam life insurance. As we say with all of articles always ask, ask and ask as many questions as you need to before making a final decision and after you have received your approved policy. Feel free to ask us questions. Be well.
About the Author
Philippe Deray – About the Author:
Philippe Deray is President and CEO of MCD Financial Services and MCD Life. Our web site address is http://www.mcdlife.com