If you are looking for no medical exam life insurance for seniors, I will cover a few different options in this article and also provide examples of pricing for no medical exam life insurance, so that you have an idea of what pricing might be. You can also call me at 800-574-0245 Ext 101 if you would like us to review these options with you and find out what makes sense for you.
No Medical Exam Life Insurance for Seniors in Just 24 Hours
With Fidelity Life, you can get approved for life insurance in just 24 hours. Here are some highlights of this no medical exam life insurance:
- Approval in 24-48 Hours
- 10 Year Term Issue Ages 18-65 $25,000-$250,000 of coverage
- 15 Year Term Issue Ages 18-60 $25,000-$250,000 of coverage
- 20 Year Term Issue Ages 18-55 $25,000-$250,000 of coverage
- 30 Year Term Issue Ages 18-45 $25,000-$250,000 of coverage
Approval is based on Standard Non-Smoker or Standard Smoker rates. To get approved you have to answer questions about your medical history. Fidelity Life will also verify your medical history with the MIB (Medical Information Bureau), Rx (Prescription records) and Motor Vehicle Report.
To get approved for Fidelity Life you have to be in generally good health – this insurance would not be a good fit if you are have pre-existing conditions and looking for high risk life insurance.
Pricing for No Medical Exam Life Insurance with Fidelity Life
For this example I’ll use a 50 year old Male (non-smoker) Applying for $100,000 of Life Insurance:
- A 10 Year Term Policy would be $47.24
- A 15 Year Term Policy would be $56.64
- A 20 Year Term Policy would be $74.56
If you need to get a life insurance policy quickly, we can help you apply and get you approved for Life Insurance within 24 hours. Call us at 80-574-0245 or click here and fill out our Contact Us form.
No Medical Exam Life Insurance for Seniors with Transamerica
Transamerica also offers no medical exam life insurance and I’ll review options for coverage.
Unlike Fidelity Life where you can have approval within 24 hours, approval with Transamerica will likely take 2-4 weeks. The reason is that Transamerica will order an APS (attending physician statement), which is essentially your doctor’s records. This is part of Transamerica’s underwriting process. The benefit to this is that if you do have a pre-existing medical condition or considered high risk, you can still possibly get approved with Transamerica without a medical exam. Here are highlights Transamerica no medical exam life insurance for seniors:
For Applications between $25,000-$99,999
- Non Medical Term Insurance $25,000-$99,000 Available ages 18-60
- Ages 61-70 can apply for Non Medical term insurance from $25,000-$50,000
For Applications between $100,000-$249,999
No Medical Exam Term life insurance coverage for ages 18-60 up to $249,999.
If you have a pre-existing medical condition Transamerica will consider non-medical underwriting up to a table D rating. This means that you can potentially get life insurance with no medical with some pre-existing conditions, for example diabetes, asthma, or sleep apnea.
Graded Benefit Senior Term and Whole Life
If you have pre-existing health conditions, another option might be a graded death benefit policy. With a graded death benefit policy, there is a waiting period of usually 2-3 years that you have to outlive before 100% of the death benefit goes into effect. You simply answer a few health questions and you can get approved for life insurance within 24-48 hours.
Coverage is available starting age 50 and goes all the way up until age 85. You can apply for as little as $10,000 in coverage, up to $150,000 in coverage depending on your age. If you are seeking high risk life insurance for a senior, this may be the solution for you.
If you are looking for a no medical exam life insurance policy, call us at 800-574-0245 Ext 101 or fill out the form below for a customized quote specifically for you.
You can also compare life insurance quotes with our quoter below.
Author: Liran Hirschkorn
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