If you hate the thought of having to do a medical exam to qualify for a term life insurance policy there is good news. If you can meet a few criteria you may be able to secure a term life insurance policy with competitive rates from a quality insurance company, without doing an insurance exam, in little as 15 minutes. The requirements to buy a no medical exam policy are listed below.
Not everyone can buy an electronically underwritten life insurance policy without going the traditional route and completing an exam. Of the handful of companies offer no hassle instant online life insurance policies, most of them have similar requirements and guidelines that you must qualify for to be accepted under their respective program. Some of the most important requirements include:
- To qualify, you must be a US Citizen or a permanent resident of the U.S.
- You must also have a physical U.S. address. A PO Box is not acceptable.
- You must have a valid Social Security number or a Green Card number.
- You must provide your Driver’s license number if you have one. Your Motor Vehicle Report will be checked as part of the application process. There is no penalty if you do not drive and therefore do not have a Driver’s License number.
- You must have an accurate knowledge of your past and present medical history and be able to answer the required health questions.
- You must disclose the names and dosages of any prescription medications that you are taking or have taken in the recent past. A check of the Pharmaceutical Database is a routine part of the qualifying process.
- You must have the name(s) of your desired beneficiaries to include addresses and Social Security numbers.
- You must have a valid credit card or provide your bank account information for payment purposes.
- There is an inquiry made to the Medical Information Bureau to verify that you have no record of past health history that would preclude you from being accepted.
- Minimum age to qualify is 18.
- Maximum age is 65 for the 10 year Level Term Plan.
- Maximum age is 60 for the 15 year Level Term Plan.
- Maximum age is 55 for the 20 year Level Term Plan.
- Maximum age is 50 for the 30 year Level Term Plan.
- Minimum face amounts are $100,000 with $50,000 increments thereafter.
- Maximum face amounts are $500,000.
- Active Students are limited to $100,000 of coverage.
- There are no replacements allowed. In other words, you cannot have intentions to discontinue another policy once you purchase an online no medical exam policy.
Of all of the above requirements, the most crucial qualifying factor is your past and current health information. It is extremely important to be truthful and accurate with respect to your answers concerning your health. If you are taking a medication for blood pressure, you can likely still qualify for coverage. To find out more, call toll free at (877) 583-3955 to speak with a professional agent or get a no exam life insurance quote now.