When a person applies for life insurance, sometimes they can be denied due to their medical exam results. The insurer may deny an applicant because a test revealed a medical condition that might impact their life expectancy. It can make it difficult for those who may not be in the best health to get insured. Fortunately, some types of life insurance don’t require a medical exam. These include final expense insurance, permanent life insurance, and sometimes term life insurance.

Life insurance underwriting involves the insurer examining risks and determining the appropriate coverage rate. Underwriters review all the data gathered in the application process and medical exam results, if one was taken, to assign a life insurance classification based on risk to the insurer. This classification impacts the overall premium price. More and more companies are adopting “accelerated” underwriting processes over the traditional underwriting process that requires an exam. Additionally, some policies available may be obtained without a medical exam.

Final expense insurance

Final expense insurance helps cover final expenses such as burial costs, medical costs, and legal costs. It’s mostly purchased by adults over 50 who are ready to make end-of-life plans. The benefit is small, and the premiums are usually low. As long as the premiums have been paid, the benefit will be paid out when the insured is deceased. Typically the application includes a few health questions with no medical exam required     .

Permanent life insurance

Permanent life insurance is an insurance policy that offers a death benefit and cash value. The cash value is a savings component that the insured can access while alive. It accumulates over time as regular payments are made toward the policy. An insured person can choose to withdraw some of the cash value, borrow against it, or withdraw all of it and surrender the policy. The cash value may also be used to pay the policy premium.

In contrast to term life insurance, permanent life insurance lasts the duration of an insured person’s life if premiums are continually paid. In addition, a permanent life insurance policy can be acquired without a medical exam through guaranteed issue life insurance. While medical exams aren’t required with a guaranteed issue life insurance policy, coverage amounts are usually lower than policies that require a medical exam.

Term life insurance

Most life insurance policies, like term life insurance, require a medical exam. This exam helps the insurance company accurately assess risk and set your premium. Term life insurance guarantees payment of a death benefit if the covered person dies within the term period. The length of time someone can be covered under a term life policy is typically anywhere between 10 to 30 years. There are term life policies with accelerated underwriting that enable same-day coverage with a period of up to six months to take a medical exam. In some cases, the exam may be waived if you are healthy.

The bottom line

With accelerated underwriting, you answer questions about your health, the insurance company checks your medical and other records, and you may have a phone interview in some cases. Fidelity Life offers life insurance with no medical exam and makes it easier for people to get coverage. Consumers can get a quote and apply online or receive the help of a licensed agent with the application and purchase process. An applicant provides information to help match them with a life insurance policy that meets their needs. The applicant can select the policy and then get a quote online or receive help from a licensed agent with the application and purchasing process