When being turned down on a life insurance application, it may seem like there is nowhere else to turn for the financial protection that your loved ones need. Unfortunately, for those who have certain types of adverse health issues, it can be difficult to qualify for life insurance – yet it doesn’t erase the fact that you still need this important coverage.
There is good news, though. With no exam life insurance, you may be able to qualify for the life insurance protection that you need, even with various health conditions. This is because no exam life insurance does not require applicants to go through traditional underwriting. Without the need to submit a blood and urine sample, your chances of qualifying for coverage are expanded exponentially.
Today, there are many highly rated life insurance companies that offer no exam life insurance – including Assurity Life Insurance Company. With this type of coverage, many more applicants can provide peace of mind to their dependents and survivors.
With Assurity Life, applicants for coverage can choose a term policy with a face amount of between $50,000 and $350,000. Term coverage lengths can range up to 30 years (with certain exceptions).
While there are no medical exams to contend with on this insurance policy, there is other information that the underwriters will look at prior to making an approval decision. This includes information from your Motor Vehicle Records, as well as information from the Medical Information Bureau.
Checking this data will give the underwriters a much clearer picture of how much risk you may present to the insurance company overall. For example, while your driving record may have nothing to do with your internal health, it can say a lot about your potential risk of being in an auto accident.
In addition, you will also be required to answer some basic questions on the life insurance application from Assurity Life. For example, some of the questions you will be asked will inquire as to whether you have had any issues – either currently or in the past – with:
The insurance company will also want to know if you have been hospitalized within the past 5 years, and if so, for what reason, as well as if you have been advised by a doctor over the past several years to seek treatment for alcohol or drug usage.
In addition to just the no medical life insurance coverage, Assurity Life Insurance Company offers a number of other choices for coverage, including whole life and simplified whole life policies. Each of these can fit with a particular niche in terms of coverage need.
For example, the simplified whole life plan can provide a large amount of coverage to an applicant in return for a very simple application process. The simplified whole life graded benefit plan is similar, yet less stringent, when it comes to approval. If, however, the insured passes away within the first three years of policy ownership, the beneficiary will only receive back the paid-in premiums rather than the stated amount of death benefit.
As a company overall, Assurity has been in operation for more than 123 years and has focused primarily on the needs of those in middle America. This insurer provides coverage across the U.S. The company has been given an A (Excellent) rating by A.M. Best Company, which helps to affirm its financial strength and its sound management practices. This can help the company’s policy holders to feel more secure in knowing that the insurer will be there in the future when they are needed for paying out a claim.
Prior to purchasing a no medical exam life insurance policy from Assurity Life – or from any insurance company – it is important to understand that there can be both benefits and drawbacks with this particular type of coverage.
First, while no exam life insurance can provide a great way to obtain life insurance protection for those who may otherwise be denied, it can also come with a high premium price. Because the insurance company is taking on a higher amount of risk, it must compensate for the higher likelihood of paying out a claim in the future. It does so by charging no exam life insurance policy holders higher premium prices.
With that in mind, it is important to ensure that you do a thorough comparison of policies and premium quotes prior to moving forward. In addition, should you be able to qualify for a traditionally underwritten life insurance policy, you may want to consider going that route, as the premium will likely be quite a bit less in comparison.
When you make your comparisons, we can help to walk you through the process – without the need to meet in person with a life insurance agent. By simply using the form on this page, you can obtain policy information and premium quotes from many of the top rated carriers in the nation within just seconds – directly from your home computer.
In addition, should you have any additional questions regarding Assurity Life’s no exam life insurance, or about any type of life insurance or life premium quote, please feel free to contact us. Our experts are here to help you ensure that you obtain the very best coverage for your specific goals and needs. You can reach us, toll-free, by calling 888-229-7522. We will make sure that all of your questions are answered quickly so that you can make the best coverage decision for you and those whom you love.