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Obtaining life insurance can feel like a complicated process, especially if the thought of a medical exam puts you off. The good news is you don’t always need an exam to get covered.
Unlike other options, guaranteed life insurance, a form of whole life insurance, bypasses the need for a medical exam for approval. Guaranteed life insurance offers a number of unique characteristics.
This type of permanent life insurance provides a small death benefit — usually no more than $25,000 — and generally doesn’t require a medical exam for approval.
Not all life insurance policies require a medical exam. If you meet certain requirements, you might be able to get approved for life insurance without a medical exam . 8.
Today, funeral and burial policies ("child life insurance") typically have a face value ranging from $5,000 to $50,000; [5] [6] do not require a medical exam, and provide the owner of an unused policy the choice of a distribution of the accumulated cash value or the option to convert the policy into a permanent whole life policy. [6]
There is usually no medical exam needed for group life insurance. The benefits may not be very high, but if your employer pays all or part of the premium, it could be worth having.
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