No Exam Term Life Insurance -
A Guide To Getting It

Sometimes you need to get term life insurance, but aren't able to have the required medical exam. Fortunately, many companies are now beginning to offer guaranteed issue life insurance. Also called simplified issue or quick issue policies, these insurance plans allow you to begin coverage as soon as you sign the paperwork, without having to pass a medical examination. Some of them will require you to see a doctor for a urine or blood sample, but beyond this simple procedure, you will not have spend time in the physician's office. This means that you can get your insurance quickly, and without the hassle of a traditional plan.

For people in poor health who could not otherwise get life insurance, guaranteed issue plans may be the way to go. Be warned, however, that rates are generally higher for this type of plan. This is because the insurance company considers guaranteed issue policies to be a higher risk, and charges accordingly. If you're trying to get the best rate and think you can pass an exam, a more traditional plan might be a better choice. If, on the other hand, you have a little more leeway in what you can pay, you might want the convenience of a guaranteed issue life insurance policy. Remember that you should be careful in planning how you want to use these policies. If you choose a bad one, you might find yourself paying more over the term of the policy than your family will receive in death benefits. Examine your guaranteed issue life insurance plan carefully to ascertain what benefits you'll get out of it for the price. The return from a no exam life insurance policy is often lower than a conventional policy. You should be sure to keep this in mind when you choose a plan.

For certain people, who have trouble getting a life insurance plan with a medical exam, guaranteed issue life insurance can be a great benefit. The key is to make sure that you're getting a plan from a good company that's not out to take advantage of you with high rates and a low death benefit. These plans can offer coverage even to people on dialysis, who have AIDS or HIV, or other detrimental medical conditions. They can help you protect your loved ones should you be unable to take care of them any more. People with hazardous jobs may also find that they have trouble getting life insurance and get some advantage from guaranteed issue life insurance. The maximum death benefit will probably be low – some where between $10,000 and $50,000, and there may be some restrictions on how much of the death benefit can be paid at any particular time. If you need life insurance, but don't believe you can pass a medical exam, or have some other reason that you are having trouble getting a conventional plan, you may wish to research guaranteed issue life insurance.

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