Life Insurance With No Health Questions

Shawn Plummer

CEO, The Annuity Expert

Do you want no health questions life insurance? It’s no secret that some people avoid purchasing life insurance because they are afraid of being asked about their medical history. The truth is, no matter how healthy a person may be, there is no way to guarantee that they will not develop an illness or disease in the future. This means it can’t hurt to have a policy with no health questions! Learn more about these policies and find out if they’re right for you in this guide.

What is No Health Questions Life Insurance?

No health questions life insurance is a type of life insurance where you do not have to take a medical exam. You can buy it without any health questions.

No medical questions life insurance is also known as:

  • guaranteed issue life insurance
  • guaranteed acceptance life insurance
  • final expense
  • Accidental death insurance

No Health Questions Life Insurance Has Guaranteed Approval

With guaranteed issue life insurance (GI) and accidental life insurance, you cannot be turned down, even if you have serious pre-existing medical conditions.

In general, you do not want to get guaranteed issue life insurance first. However, you should explore other types of life insurance before getting this type because the premiums can be more expensive.

Life insurance companies know that most people who apply for a life insurance policy have problems with their health.

Instead of asking you if you are healthy, they charge you more.

How No Health Questions Life Insurance Works

Guaranteed Life Insurance Coverage Are Smaller Amounts

When you buy life insurance, the size of your policy will be smaller if you don’t answer questions about your health.

Life insurance companies are in the business of taking on risk. They take on risks by insuring people with serious health problems, like cancer. The following are examples of taking on more risk:

Policies are limited to smaller face amounts because you might be a high risk for the insurance companies.

You can expect your insurance policy to be between $1,000 and $40,000.

You need to be careful, so you don’t pay more in insurance premiums than your policy is worth.

A Waiting Period

Your beneficiaries might have to wait a few years before they can get the full amount of money.

Carriers will only pay your beneficiaries a certain amount of the death benefit or return your premium payments within the first couple of years. This is called a graded death benefit and is common in life insurance when someone is terminally ill.

This is often a way for the life insurance companies to protect themselves against paying a full life benefit on people who are very sick and die shortly afterward.

After the graded benefit period, your beneficiaries will get the full death benefit.

Age Requirements

To qualify for this type of policy, you need to be between 40 and 85 years old.

Although most of the guaranteed issue companies require you to be at least 45 years old.

If you are younger than 40 but cannot get life insurance, you should buy an annuity with an enhanced death benefit. There are no health questions or medical exams.

Instant Approval

Since you are buying life insurance with no questions about your health, the application process will be instant.

Here is the guaranteed issue life insurance application process:

  1. Decide the policy face amount you would like.
  2. Enter your basic personal information: date of birth, social security number, address, etc.
  3. Record your beneficiary information.
  4. Make the first payment and establish a payment schedule.

No Health Questions Life Insurance

Alternatives to Life Insurance with No Questions About Health

Guaranteed issue life insurance is a good option ONLY if you do not qualify for other types of life insurance.

It’s best if you research life insurance with no medical exams required. No physical life insurance means you don’t have to take an exam, but you do have to answer health questions.

For example, other types of insurance do not require a physical exam but will have some health questions.

How to Apply for Life Insurance with No Health Questions

A life insurance policy with no health questions may be the perfect fit for you. However, make sure you evaluate your needs and options to get the best price and coverage for you.

Need Help Getting Life Insurance Coverage?

If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help make sure that you get coverage so that you don’t get declined.

Warning: Applying for life insurance without a medical exam can be risky. If you are declined coverage, it could be at least two years before you are able to get any life insurance.

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Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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