Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
The premium price tag is dependent on your gender, age, smoking status, health history and current medical condition. It also factors in the face amount of coverage, the length of coverage and any ancillary riders. Be advised that if your health condition is good, you may receive a better offer at a cheaper premium for undergoing the underwriting process.
The cost of No Exam life insurance varies a lot because No Exam life insurance is use for so many reasons.
Some people get No Exam insurance for convenience. In those cases, if they have very good health, the person may be able to get a lower price if applying for a policy that requires an exam. But to them, it is worth it to not miss time off work and go through the blood sample and exam.
Some people get No Exam insurance because they are obese or have a health condition that does not qualify them for a medically underwritten policy. While the cost might seem high, for them it is worth it.
Other persons can actually sometimes get a lower price with No Exam insurance than they could with life insurance requiring an exam. This can be the case with final expense insurance, overweight life insurance, or life insurance for persons of older ages. Part of the reason is that No Exam life insurance offers a minimum face amount requirement than most medically underwritten policies.
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Some people get No Exam insurance for convenience. In those cases, if they have very good health, the person may be able to get a lower price if applying for a policy that requires an exam. But to them, it is worth it to not miss time off work and go through the blood sample and exam.
Some people get No Exam insurance because they are obese or have a health condition that does not qualify them for a medically underwritten policy. While the cost might seem high, for them it is worth it.
Other persons can actually sometimes get a lower price with No Exam insurance than they could with life insurance requiring an exam. This can be the case with final expense insurance, overweight life insurance, or life insurance for persons of older ages. Part of the reason is that No Exam life insurance offers a minimum face amount requirement than most medically underwritten policies.