Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Yes, you can. However, the no exam aspect only applies to the blood and urine tests. Insurance carriers still look at your medical history. When applying for a life policy insurers tend to look at two aspects health wise. They review your medical history as far back as a decade through both your doctor (chart notes) and the Medical Information Bureau (think of it as similar to a credit report.). They also take blood and urine samples (possibly an ECG as well) to get a "snapshot" of the day the examiner visited. This level of information allows a more complete risk review when pricing a policy.
The rule of thumb is the more questions asked the lower the cost of the policy. The fewer questions asked the more expensive. So a no exam company will probably have greater premiums charged than a full exam company for the same person. Sometimes this is a considerable amount of money paid out to skip the exam.
It is possible to buy life insurance online with no exam, but the policy usually takes from an hour to a month to go into effect after digitally submitting the application.
Some policies that do not require the exam also do not look at doctor's records, and those go fastest. They usually require a phone interview and the underwriter will look at drivers record, pharmacy record, and MIB before approving (or declining) the policy.
For those No Exam products that reserve the right to order doctor's records, a policy decision will be made after all the material has been collected and reviewed.
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The rule of thumb is the more questions asked the lower the cost of the policy. The fewer questions asked the more expensive. So a no exam company will probably have greater premiums charged than a full exam company for the same person. Sometimes this is a considerable amount of money paid out to skip the exam.
Some policies that do not require the exam also do not look at doctor's records, and those go fastest. They usually require a phone interview and the underwriter will look at drivers record, pharmacy record, and MIB before approving (or declining) the policy.
For those No Exam products that reserve the right to order doctor's records, a policy decision will be made after all the material has been collected and reviewed.