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Life Insurance for Seniors with No Medical Exam

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Many life insurance companies require medical exams before they offer coverage, but this isn’t good news for those who suffer from health issues or who simply don’t want to deal with the aggravation of undergoing an exam. If you are shopping for life insurance for yourself or an elderly parent, you could be wondering how you can bypass one of these exams while still securing coverage. Fortunately, there are some policies out there that you can snag without having to see a physician, but you have to know how to shop for them if you want to find the best coverage for the best rate.

Life Insurance for Seniors with No Medical Exam

There are many reasons why you might be looking for life insurance for seniors with no medical exam. If you or your elderly loved one suffers from one or more medical issues, you might be afraid that the insurance company won’t provide you with coverage at all or that your rates will be significantly elevated. By seeking life insurance without an exam, however, you can try to avoid these issues.

Unfortunately, the vast majority of whole life and term life insurance companies require medical exams for seniors who are 65 years old or older. This means that you may need to look into burial insurance instead. Here are a few things that you should know about burial insurance:

  • Although you can often purchase policies with high face values when seeking whole life or term life insurance, this isn’t the case with burial insurance. Unfortunately, the face value generally ranges between $5,000 and $35,000 if you want to avoid the medical exam. Luckily, these policies are typically enough to cover funeral expense and some basic other final expenses.
  • The good news about a burial insurance policy is that the lump sum is paid out to the beneficiary in full. This means that he or she can determine how to spend the money. For example, your beneficiary might choose to spend $5,000 on a funeral and can then use the proceeds to pay for any leftover medical bills or other final costs.
  • If you want to look into other options, it’s a good idea to use our search feature to find out what is out there. If you or your loved one is younger than 65, you might be able to get a small whole life insurance policy or other type of coverage without a medical exam.
  • You do need to know that many burial insurance policies do require a two-year waiting period. This means that if you or the insured passes away within this 24-month period, there will be no coverage. Luckily, insurance companies do refund the premiums paid if this turns out to be the case. Also, you can look for a policy that will waive this waiting period if you need coverage now; in certain cases, companies do offer this option.


Life Insurance for Seniors with No Health Questions

Although you might realize that there are policies out there that offer life insurance without a medical exam, you probably also know that many of these companies do conduct an over-the-phone interview. During this interview, a representative from the insurance company does ask a few health-related questions. If you or your parents have health issues, you might be worried about this interview, and you could wonder if it will prevent you from being eligible for coverage.

Luckily, there are a handful of burial insurance policies out there that don’t require this type of interview at all. However, you should remember the following things:

  • In many cases, coverage will not be offered immediately if you don’t participate in a health questionnaire. This means that you might have to wait for 24 months before your coverage takes effect.
  • Premiums can be higher for these policies.
  • The face value for life insurance for seniors with no health questions will be lower than with other policies, but the money will be paid to the beneficiary after death. This means that the beneficiary can disburse funds between funeral expenses and any other necessary costs.
  • If you or your loved one are only dealing with moderate health-related issues, you might want to try for another policy. Then, if you are denied coverage, you can begin looking for policies that don’t ask health questions.


How to Find Best Senior Life Insurance

Regardless of if you are simply trying to bypass a medical exam or would like to seek coverage without any health questions at all, we can help. Here at United Life Group, we work with lots of A-rated life insurance companies and sell burial insurance, term life insurance and whole life insurance to customers from several different states. By simply entering your ZIP code into the form that is displayed at the top of the page, you can start looking at burial insurance and other options right away. By comparing your options, you are sure to find the best coverage for you or your parents, no matter what your situation might be.