Can You Get Life Insurance Without a Physical?
Now you may ask yourself, “can you get life insurance without a physical?” if you are having health issues but have decided that you need life insurance. The answer is yes, you can, but need to be aware of how it works in full. If you have found that you have problems qualifying to get life insurance in the past, this is probably the way for you to go, too.
Under normal circumstances, the question “can you get life insurance without a physical?” is answered by “no”. Life insurance companies need to know if you are telling the truth about your medical and health condition because they are going to put their money on the line for you. But, there is a type of policy called “guaranteed issue” that will not require you to go through a medical exam. Depending on how much face amount you want, they might ask you to answer some health questions on a questionnaire, which might even be done online. Many times you won’t even need to do that. (They can check your answer against the national health archives of your doctor visitation history and so on).
You are issued your coverage the same day you apply, and your policy comes in the mail within a week or so. Now…are these life insurance companies who give people these policies nuts? No, they aren’t–you aren’t being “given” anything. And that’s what you need to understand.
The guaranteed issue life policy will have a cap on how much you can get in death benefit, and it won’t be a very high ceiling. Depending on your health answers (if you want a larger guaranteed issue policy expect to answer them), your age, your gender, your occupation, and whether or not you smoke, you can get between 00 and ,000 in general. You will also pay premiums through the nose–these policies are risky to the insurance company, so they will offset their risk by charging you very high premiums.
But if you need life insurance and it seems like there’s no other way for you to turn, this type of policy can be your best bet. And, if you can’t get all of the face amount that you want from one company, go ahead and take out a second policy, or a third, and so on. You can maximize your death benefit by taking out as many policies as you can afford.
You will want to compare companies so you can get the best rates and find the policy that best fits you, of course. So go to websites that offer insurance company comparison. You just have to enter your personal information one time and you’ll have rates for different amounts of coverage posted for you. You can also pay a visit to a local financial planner or insurance broker if you want another opinion.
So if you’ve said to yourself in the mirror “can you get life insurance without a physical?”, know that you can, but you’ll have to pay for it.
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