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Sagicor Review – No Exam Life Insurance

When purchasing life insurance, it is oftentimes required that the applicant for coverage submit a blood and urine sample as a part of the underwriting process. This is because the life insurance company wants to get a clearer idea of the applicant’s overall health in order to determine the amount of risk that it is taking on. This way, the insurer can predict its likelihood of having to pay out a potentially costly claim.

sagicor no exam life insuranceIn some cases, however, an applicant may not wish to undergo a medical exam. Some individuals may have a fear of needles and will therefore want to forego a blood test. In other cases, due to an adverse health condition, the applicant may fear that a medical exam will lead to a declination for life insurance coverage altogether. In still other instances, an applicant may need to obtain coverage quickly, such as for loan collateral on a new home or business purchase.

A medical exam tends to slow down the underwriting process – in some cases, for several weeks or longer. Yet, policies that do not require a medical exam can be approved much more quickly, as is the case with Sagicor’s no exam policy – a policy that will offer up to $399,999 in coverage without the need to undergo a medical examination for approval.

About Sagicor

Sagicor Life Insurance Company has a long history of offering insurance and protection products. The company has been in business since 1840, which makes the insurer one of the oldest insurance companies in the United States.

The company provides a wide array of both life insurance and annuity products to its customers. Its life insurance policies offer options for both term and universal life. Sagicor currently has approximately $5.5 billion in assets.

As of July 2014, the insurer has been given a rating of A-, which is Excellent, by A.M. Best, meaning that the company is financially strong, and that it has a good reputation for paying out its claims to its insurance policy holders.

What the Insurance Underwriters Need to Know

If an applicant is seeking a solid life insurance policy without having to take a medical examination, then a Sagicor no exam policy can provide the perfect solution. In order to apply for this coverage, there is no need to even meet with an agent in person. The entire process can be done over the telephone – including making the decision for approval. (In certain cases, additional review may be necessary that could take up to 48 hours).

In making a decision for policy approval, there are three primary sources that are used. These include the following:

  • Medical Information Bureau (MIB) – One key source of information that is used when determining approval for a Sagicor no exam policy approval is that which is found via the Medical Information Bureau. Here, information can be found that has previously been provided to other medical insurers.
  • Intelliscript – Intelliscript is a database that stores pharmaceutical related information such as which prescription drugs you have been prescribed in the past. This information can help the life insurance underwriters in determining any health conditions that you have based upon the drugs that you have been prescribed.
  • Motor Vehicle Files – Motor vehicle files will also be accessed. These records can provide insight as to your overall safety as a driver – and they can be very insightful when making a determination on a life insurance application.

Just as with other types of life insurance policies, the underwriters will also need to know basic information regarding the applicant, such as details about:

  • Age
  • Gender
  • Height and weight
  • Smoking habits / tobacco usage
  • Alcohol usage
  • Occupation and income (if applicable)
  • Dangerous hobbies

How Much Will Your Life Insurance Policy Cost?

When purchasing life insurance without a medical exam, it is unlikely that even with excellent health a preferred rating will be possible. With this in mind, a Standard rating is typically the best rating that most no exam policy holders will be able to obtain. Standard policy ratings mean that these policy holders are considered to be of average health, height and weight as the other insureds in their same policy class – and they will pay roughly the same premium amount.

For those who do have adverse health conditions such as diabetes, a higher premium rate will be likely – however it is also probable that the policy will not be immediately declined for coverage.

This makes the Sagicor no exam policy different from the more “traditionally” underwritten policies where a medical exam or an additional review would typically be necessary before the policy may be approved.

Taking the Next Step to Applying for Coverage

Because you never know when an accident or serious illness will occur, it is important to obtain life insurance coverage sooner rather than later. When doing to – and especially when considering no exam life insurance policies – it is always a good idea to compare policy benefits and premium quotes. This is because the cost of no exam life insurance plans can differ a great deal from one life insurer to another.

When making your premium quote comparisons, can help. We work with many of the top rated life insurance companies in the industry today, and we can provide you with side by side benefit and quote comparisons – directly from your home computer – in just seconds. In order to begin the process, simply use the form on this page.

We also understand that you may have many questions when seeking a new life insurance policy. Should you need to discuss a Sagicor no exam policy, a comparison of life insurance premium quotes, or any other aspect of life insurance in general, we are here to help. Please feel free to contact us toll-free at 888-229-7522 and our experts will be sure to assist you so that you can obtain the life insurance protection that will best cover the specific needs of you and your loved ones.

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