What is no medical exam life insurance?

life insurance

Life insurance without medical exam is also called:

  • Guaranteed issue life insurance
  • Simplified life insurance

In fact, the only condition that will be imposed on you to take out life insurance without medical examination is to respect the age limits established by the insurer. This insurance can generally be taken out until the age of 75. However, this limit varies from one insurer to another.

When to choose life insurance without a medical exam?

Life insurance without a medical exam costs more than life insurance that can be purchased without having to fill out a questionnaire or undergo an exam. 

Life insurance without medical examination will interest the following people:

  • Those that an insurer has already refused
  • Those who know that their health is not good
  • Those who want to get insurance easily, without going through a complicated process

Generally, it is people who have little or no life insurance who buy this type of insurance. They do this to cover funeral expenses and leave a small amount of money for their loved ones. 

Guaranteed or simplified issue life insurance

Guaranteed or simplified issue life insurance and insurance without medical examination are completely identical.

Guaranteed issue means that the insurer cannot refuse you for health reasons. However, the amount of protection will be limited. Generally, insurers offer coverage ranging from $5,000 to $50,000. The cost of this type of guaranteed issue insurance is, of course, higher than that of regular life insurance, since the insurer assumes the greater risk. Most insurers limit underwriting to age 75 and under; a few, however, agree to extend it to age 85.

What is life insurance without a medical exam?

Life insurance without medical examination (also known as life insurance with guaranteed enrollment): life insurance without an exhaustive questionnaire on your state of health guaranteeing your acceptance and protecting you immediately upon receipt of your application by the insurer.

Who is it for?

This targets people who find it difficult to take out an insurance contract.

  • If you go to hospitals or have to take pills on a regular basis.
  • If you practice extreme sports or dangerous jobs.
  • If you are looking to get life insurance quickly.

You may need to consider life insurance without a medical exam.

How does no-medical life insurance work?

It is common to have to answer certain questions. Subsequently, we are offered different options depending on your situation, your budget, and certain criteria.

  • The age of the insured
  • Tobacco use
  • The presence or absence of health problems

Guaranteed life insurance

Guaranteed life insurance coverage will last your lifetime, without questions about your health. Your eligibility is guaranteed even if you have existing health conditions.

What is Guaranteed No Exam Life Insurance?

No-exam life insurance is a type of life insurance you can get without having to provide medical information. You do not have to answer questions about your health or undergo medical examinations. We guarantee approval of your application for Go Sun Life Guaranteed Life Insurance, regardless of your existing medical conditions.

With respect to life insurance, it is not us who will have to complete the death claim but rather our beneficiaries. This is when the financial institution will verify our application for insurance without medical examination, an application that we had of course completed before. And that’s when our beneficiaries will know if we have unfortunately omitted to answer an important question that, required a sub-question… We also wonder why there is mention of a false declaration clause on his health since almost no questions were answered!

Your doctor mentions that you have the onset of diabetes and he, therefore, prescribes medication for this purpose. You decided to pay attention to your diet and therefore stopped taking the medication without your doctor’s advice. To the question “Do you have diabetes”, you answer honestly in the negative sense, in your opinion, you do not have diabetes.

By Master James

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