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Can I enroll for insurance without having to take a medical exam?


People buy health insurance plans to have a financial cover in case of any illness or accidents. Most insurance companies that offer these plans do so after conducting a medical exam of the person buying the insurance.

This exam is conducted to assess the health of the person and identify any underlying disease that they don’t tell about to the insurance company. The exam also has a bearing on the amount of premium that the person has to pay.

People who have a history of any disease or are deemed riskier have to pay more for their premiums.

Insurance Companies Offer No Exam Life Insurance

Many people look for insurance plans where they are not required to undergo medical examinations. Therefore, insurance companies also offer no-exam life insurance policies.

The purpose of these insurance policies is to provide coverage to people without them getting a medical exam done. However, buying these policies is a complicated process.

Insurance companies have stringent criteria on which they assess people’s health. Each applicant is evaluated after a thorough assessment of their medical records.

After the assessment, a detailed interview is conducted, where they are asked about their health condition. The questions asked in the interview are to find out if they are alcoholics, have any family history of diseases, had any medical issues in the past year, etc.

However, an important thing to note is that the applicants might be denied the no-exam life insurance policy based on their answers.

The insurance company also holds the right to cancel the insurance and return the amount if it finds later that the person lied about their health condition.

No Exam Insurance Isn’t Cheap

Another thing to note about the no medical exam insurance policy is that it isn’t cheap. People buy a life insurance policy to ensure financial protection in the event of an injury or ailment, and medical insurance companies understand that.

They know its value and charge for the premiums accordingly. For example, many people in their 60s opt for medical insurance when their disease has surfaced. At this age, they can’t get another insurance policy because each one will ask for a medical exam. 

Type of no-exam insurance plans

There are two types of no exam insurance plans that a person can buy. 

  • Simplified No Exam Medical Insurance

The simplified no exam medical insurance policy is the base coverage option that you get. That’s why it is called ‘simplified medical insurance.’ The insurance agents will ask you a string of questions before insuring you.

The insurance money would be given to your family after your death. Simplified insurance policy has high premiums because it is risky for the company to ensure you as they are not conducting a medical exam to assess your health condition.

The maximum amount you get in this plan is $500,000. However, experts recommend that you get insurance coverage that offers a financial cover of at least 10 to 12 times your regular income.

So, if your yearly income is $50,000, you should get at least $600,000 insurance coverage so that your children can benefit from it.

  • Guaranteed No Exam Medical Insurance

Guaranteed No Exam Medical Insurance is the amount of money that is given to your family after your death. It can range from $1,000 to $25,000 depending on the plan.

In some cases, the amount is offered in slabs. It means only a small amount is provided right after death to take care of burial expenses, and the remaining amount is provided later. That’s why it is also called as ‘graded medical insurance.’

Guaranteed no medical exam insurance has high premiums as well because of the risk involved.

However, one thing to note is that these health insurance policies do not always pay for the medical and non-medical cost of accidental injuries.

So, in case your insurance plan does not provide a financial cover for accidental injuries, you will need to buy supplementary ‘accident insurance’ or ‘accident plan.’ These plans provide cash benefits that are paid directly to you in the event of an accident.

Should You Get No Exam Life Insurance?

Every person should buy a life insurance plan early in their life. They shouldn’t wait for an incident to happen to opt for life insurance. Having a life insurance policy means that your family can have financial security even after you are not with them.

You can even go for a no exam life insurance if you have no underlying disease. The sooner you opt for medical insurance, the better premiums you will get.

Final words

In some cases, you can claim the life insurance policy after 15 years, even if you are alive. It means that you can enjoy the benefits of medical life insurance when you are about to retire.

However, for such type of coverage, make sure that you opt for the right kind of insurance plans. Otherwise, you will not be able to get the insurance coverage before death.

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