How to Get Life Insurance Without a Physical

No Physical Life InsuranceTo take out a traditional life insurance policy, you need to undergo some sort of physical medical exam.

Depending on your age and the type of policy you want, you might need to meet with a nurse, have a full physical with a doctor, or go through several types of tests.

This process not only takes up your precious time, it also delays the approval of your insurance policy.

Fortunately, there is a way around this hassle. There are no physical life insurance policies that don’t require any sort of medical exam. These are great options if you are in a hurry to get insured. They also work well if your records show you are in good health, but are worried a medical exam might uncover some sort of problem.

We have put together a list of the best no physical life insurance companies on the market today. By using one of these options, you’ll be able to get the coverage you need without the stress of a medical exam.

Fastest Approval with National Life

National Life offers an insurance program called 1ClickCoverage. This is the very fastest way to get an insurance policy. To apply, all you need to do is complete a quick online application; you don’t need to speak to a representative. The application will ask a few questions about your medical history. Once you’ve submitted your application, you’ll get a decision on average within 3 minutes.

Through this program, you can apply for a policy limit up to $350,000. These policies also offer a discount if you are in very good health. You do need to be in decent health to qualify for these policies though. If you have some health problems on your medical history, you could get rejected.

More Options with Assurity

Most insurance companies don’t offer many policy options for no physical life insurance. They have to keep things simple in order to keep costs low. With Assurity, you have more of a chance to customize your life insurance. First of all, this program has a wide range of policy sizes. You can get a policy as small as $50,000 up to a policy as large as $350,000.

In addition, this program has many different health ratings for applicants. Healthy applicants get a discount while sicker applicants can still get coverage. This means your policy price better matches your current health. Lastly, you can add on several insurance riders to these policies like an extra spousal policy or disability income protection. You won’t find these riders on any other no physical life insurance policies.

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Guaranteed Coverage with Fidelity

Fidelity offers a few no physical life insurance policies. Its most interesting program is the Hybrid Insurance Program. To start your application for this program, you answer a few quick health questions for an answer. If you qualify, you’ll receive one third of your policy as traditional insurance and the rest as accident only insurance. Accident only coverage only pays out a death benefit for accidental deaths. It would cover a car accident but not a stroke.

If you want your entire policy to be regular life insurance, you have up to six months to go through a regular application, including a medical exam. If you pass, all your coverage will be regular insurance. If you don’t, you’ll still be able to keep your hybrid policy.

In addition, Fidelity also offers an Instant Decision program that works the same way as the 1ClickCoverage Program. You just need to answer a few questions over the phone and you’ll get your decision. Lastly, seniors between the ages of 50-70 can also apply for no physical insurance. These policies only give limited coverage for the first 3 years and then switch to full coverage after 3 years.

Easiest Underwriting

If you have some health problems, qualifying for a no physical life insurance policy can be difficult. Many companies instantly reject you if your medical records or the answers on your application make you seem too unhealthy. With another carrier we work with, you might still have a chance at receiving life insurance.

Their application is a paper application that you need to submit by fax. With your application, you can give a detailed explanation about your condition so the underwriters will get a better idea about your risk. While this application takes longer for approval (about 14 days) it gives applicants with medical issues the best chance at qualifying for insurance.

Best Rates with American National

The problem with no physical life insurance is that it is more expensive than traditional life insurance. Since the average applicant is sicker, insurance companies have higher costs and need to charge more for these policies. American National has very strict underwriting for its no physical life insurance policies. As a result, it offers the least expensive rates. If you are in near perfect health and want a no physical policy, American National is your best option.

No Physical Insurance as an Emergency Backup

If you are healthy enough to qualify for traditional life insurance, this is probably your best option; you’ll receive a much less expensive policy. However, while you’re waiting for approval, your loved ones would be stuck without insurance protection.

One way to get around this problem is to apply for a no physical policy at the same time as traditional insurance. This way you’ll have insurance while you’re waiting for the approval of your traditional policy. Once you qualify for the better policy, you can cancel the no physical life insurance.

No physical life insurance can come in handy for a number of different situations. If you want to learn more about these programs and want help with an application, contact one of our representatives. They will be able to answer all your questions and make sure you match up with the best possible no physical life insurance plan.

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Comments | 5 Responses

  1. Christian L. says

    Jeff,
    What’s your advice for active duty service members seeking life insurance? Does being in the military increase the cost of life insurance?

    -Christian L. @ Smart Military Money

  2. says

    As with anything like this you’re going to pay for the convenience/need, like you say. Any idea how much more on average than a plan with exam? I would think that over the course of many years a few hours of your time isn’t worth big bucks.

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