No Exam Whole Life Insurance
Most advertisements that you see on TV with really cheap life insurance rates and a quick application process are term policies, but you can also find plenty of affordable no exam whole life insurance policies. Since whole life is permanent insurance that can grow a cash value, it might be a better choice for some people. For example, burial insurance for seniors is usually a no exam whole life insurance policy with a relatively modest face value and relatively modest premiums.
No matter what kind of life insurance you need, we can help you find the right no exam life insurance plan at the right price. 20-year enter your ZIP code in our free online form to compare life insurance rates and plans in your local area from the best life insurance companies. If you have any questions, you are also free to call us for help.
Why Choose No Exam Whole Life Insurance Instead of Term?
If you are in your 50s or 60s, your may need to choose between 20 year term insurance and whole life. While average whole life insurance rates are bound to be somewhat higher than term rates, whole life still has some advantages. These include:
- Lifetime coverage: The no exam whole life insurance policies stay in force as long as they are paid for or paid up, so they can provide a lifetime of coverage.
- Relaxed underwriting: Lots of no exam senior life policies are whole life insurance, and these are made easy for older adults or their families to apply middle-class. Note that the person to be insured does need to get involved in the application process even if you are helping a parent or grandparent apply.
- Cash value: Permanent life insurance can grow a cash value over time, and this can be used as an asset while you are still alive.
What to Know About No Exam Whole Life Insurance
While small no exam whole life insurance policies are commonly used as burial policies to help seniors and their families finance funerals and other final expenses, you can also find good options for younger adults and even children. These are some typical features of whole life that do not require a physical:
- Death benefits: Typically, the face value of the policies will range from about $5,000 to $25,000 or $35,000.
- Applications: The applications only as a few health questions, and they are meant to include all but the most seriously ill applicants.
- Premiums: Since the face value of these policies is relatively small, they are meant to be something that many middle class families can afford.
- No Exam Whole Life Insurance for Smokers?: People who use tobacco may pay somewhat higher premiums, but they are certainly welcome to apply for coverage.
Simplified or Guaranteed No Exam Whole Life Insurance
Most people who are still able to live independently can qualify for one of these simplified issue plans. People who do have serious health issues that may confine them to bed or even an assisted living facility or nursing home might need to consider a no exam guaranteed issue life insurance policy. With these, the applications ask absolutely no health questions.
How can the best no exam whole life insurance companies offer to cover people without asking any health questions? For one thing, they may not offer the full death benefit right after the policy gets issued. Instead, they will only pay out the entire face amount after the insured person has survived a waiting period that might last 24 to 36 months. Before that waiting period expires, the insurer might offer to pay a percentage of the face value or even just refund premiums.
While this might be a good option for people who cannot qualify for a simplified issue life insurance policy, it is better to find out if you or your loved one can qualify for simplified issue policies with immediate death benefits first.
Why Not Let Us Help You Find the Best No Exam Whole Life Insurance?
We have made it as easy as possible to find good rates and plans from highly rated life insurance companies that do business in your local area. Simply enter your home ZIP code in our free online quote box. You are free to browse the results, but you can still contact us if you have any questions or need help applying. We hope to offer the right tools and service to help as many people as possible find the right solution.