You may or may not need to perform a medical exam in order to purchase a term life policy depending upon your age, the size of policy, and premium rates.
Each insurance has different age and policy size combinations for when medical exams are needed, and the type of exam required: blood, urine, or other tests. You can also avoid physicals by identifying carriers that offer no exam policies, but expect to pay more in premiums.
President, Lane Independent Agency, Southern California
For everything other than "final expense" insurance, in amounts of about $25000 or less, yes, a physical will be required. This is for your good too. It allows the carrier to provide you with the very lowest rates. Do your best to take care of yourself especially during the two weeks prior to your exam. It is amazing how the body can heal itself. Thank you. GARY LANE.
The need for a physical does not depend so much on the type of policy you buy, but the face amount for which you are applying. Both term and life insurance policies will require an exam if the face amount is large enough, and the number of tests done in the exam will increase if the face amount is very large.
There are No Exam policies now that provide over $100,000 of life insurance, and sometimes their rates are very reasonable. This is especially true if you are somewhat overweight, have type 2 diabetes, or some other situations. Please don't hesitate to contact me if you'd like to avoid a life insurance exam, and want to see the lowest Term rates you can get.
It depends on your age and the face amount of life insurance applied for more than whether it is term life or cash value life insurance whether you will be required to take a physical. There are policies that can be purchased up to $300,000 face amount on a non medical or simplified issue that do not require you to take a physical for a slightly higher premium.
There is a life insurance carrier that will offer up to $1,000,000 of term or permanent coverage with no physical exam if you are healthy. They offer this no exam option for clients who fall in the top two health classes. I have used this product for clients that need life insurance coverage in the shortest amount of time possible.
Beyond that carrier there two that I know of that go up to $399,999 without and exam. Both can be done over the phone and often they can be issued in as little as 24 hours.
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Each insurance has different age and policy size combinations for when medical exams are needed, and the type of exam required: blood, urine, or other tests. You can also avoid physicals by identifying carriers that offer no exam policies, but expect to pay more in premiums.
There are No Exam policies now that provide over $100,000 of life insurance, and sometimes their rates are very reasonable. This is especially true if you are somewhat overweight, have type 2 diabetes, or some other situations. Please don't hesitate to contact me if you'd like to avoid a life insurance exam, and want to see the lowest Term rates you can get.
Beyond that carrier there two that I know of that go up to $399,999 without and exam. Both can be done over the phone and often they can be issued in as little as 24 hours.