No Medical Exam Policies

Finding a life insurance plan for a young, healthy adult can seem so easy: There are so many options out there, and younger adults usually don’t have to worry about their medical exams. The same can’t be said for seniors, however, and it can be tricky to find life insurance policies for those who are 65 or older. Luckily, it is possible to find life insurance for seniors with no health questions or medical exam; you simply have to know what to look for.

How to Find Life Insurance for Seniors with No Medical Exam

For seniors who are over 65 or who have some health issues, it can seem impossible to find a good life insurance policy. Many term life and whole life insurance policies require medical exams for elderly customers and often charge higher rates for those who are older, so they aren’t always the best options. Instead, many seniors opt for burial insurance.

Here are a few reasons to consider burial insurance:

  • In many cases, burial insurance companies offer face values between $5,000 and $25,000 without requiring a medical exam. Higher amounts may be available, but they typically do require answers to medical questions or an exam.
  • The proceeds from burial insurance can be spent however the beneficiary chooses. This means that it can be used for funeral expenses, medical-related costs, final debts and more.
  • Burial insurance can be much more affordable than other options; this makes it a great choice for seniors who are on a budget. Whereas term or whole life insurance can be costly, particularly for older individuals or those with health problems, burial insurance is generally within reach.

Tips for Buying Life Insurance for Seniors

As you can see, burial insurance is an excellent option for many seniors; this is especially true for those who don’t want to sit through a medical exam. In many cases, adult children can compile the majority of the information for their parents, so the insured only have to deal with the final paperwork.

To help ensure that you get the best policy, remember these tips:

  • Some burial insurance policies do require a waiting period. This waiting period can run as long as 24 months and can leave you or your loved one without necessary coverage. Therefore, it is a good idea to read the fine print if you want to find a policy that offers coverage immediately.
  • Some companies offer as much as $25,000 as a payout for seniors without a medical exam. To get as much coverage as possible, you should try looking for policies with a face value of close to $25,000.
  • Remember to compare prices. Different providers offer different policies at varying rates, and you could wind up paying more than you have to if you don’t shop around. It is best to compare a few rates before making a final decision.
  • Seniors who are younger than 65 may qualify for other options. If you or your loved one has not yet turned 65, you may want to find out what your other options are before signing up for a policy.

Luckily, we have worked hard to make insurance shopping easy for you here at United Life Group. We are fully licensed to sell no exam life insurance for seniors in multiple states, and you can enter your ZIP code into the field at the top of the page to find out more about what is available to you. Since we work with some of the top life insurance companies in the nation, you are sure to find the best quotes and policies when you use our services.