No Physical Life Insurance // Why It’s Your Best Option In 2019 (Plus Tips)
Dealing with a nurse and trying to take out time for a physical exam for your life insurance policy is both a long and aggravating process.
But what if I told you:
That there is a much easier way to get life insurance in 2019.
You can altogether avoid a physical exam and have coverage in an instant.
In this post today, I will go over what no physical life insurance is, how it works, which company offers the best version of this coverage, and how you can get coverage started today.
In This Article
What Is No Physical Life Insurance
No physical life insurance goes by a ton of names like life insurance with no blood test.
It is, in “Plain English” life insurance that won’t require a physical exam or medical records from your doctor for you to get approved.
These policies usually cut your wait time for coverage from 3 to 4 weeks to under 5 minutes.
While getting a policy with no exam isn’t very new, the ability to get a policy with no physical and get approved in under 5 minutes is groundbreaking.
Why No Physical Term Life Insurance
What makes term life insurance without a physical exam so enticing is that it gives you the ability to do a few things:
Get Covered Without A Visit From A Nurse
Usually, when you have to complete an exam, you will have an exam company like ExamOne or EMSI send out a registered nurse to your home or place of business.
Once there, she will do a physical to get the process started for your life insurance application.
There can’t be an approval without the medical examiner completing your physical exam.
Avoid Dealing With Needles
One thing I don’t enjoy about dealing with doctors or nurses is that eventually, one way or another, the needle is coming out.
Not only do they intimidate us, but they also hurt like hell sometimes, and if you hate seeing blood, it gets even worse.
With a no physical life insurance policy, you get to get to avoid this and get an immediate answer on your life insurance.
You Don’t Have To Wait For An Answer
Just two years ago, I was on a web conference titled Lightning Speed Life Insurance.
I was super excited because I figured it had to be something new.
However, it was merely a company talking about how they would take over case management for us as agents.
Their Lightning Speed approvals came out to a 75-day average.
Can you imagine waiting 75 days to get an answer on your life insurance? Most people even forget they applied for coverage.
There is no longer any need to worry about those wait times.
How No Physical Exam Life Insurance Works
So, you are probably wondering, how is this possible?
How can I avoid a physical and still get life insurance? Well, let me explain:
Medical Information Bureau (MIB)
The MIB is a nonprofit organization of insurance companies that together track when you last applied for life insurance.
They use this information to determine your eligibility for insurance. For example:
Let's say you were declined for life insurance 2 years ago due to diabetes by Insurance Company A.
Company B would be able to see that you were previously declined if you apply for coverage today.
This is to make sure they get as much information about your application as possible.
Intelliscript (Prescription Drug Report)
The next report that is pulled is all about your prescription drugs.
Whenever you fill a prescription, it is logged to Intelliscript regardless if you ever take the medicine or not.
I say this because sometime you might fill a prescription for something but never take it. However, the insurance companies will see that you filled the order and treat it as you did take the medication.
This report is used to confirm the answers to your application.
If you state you don't take medicine for heart issues, but you are taking a Nitro prescription, then there is something going on.
Your motor vehicle report is going to be checked to confirm your driving history and to make sure you don't have a suspended license.
If you have a history of DUI's or DWI's, then the life insurance company probably won't give you insurance because those are dangerous behaviors.
Too many speeding tickets can also negatively affect your ability to get life insurance.
The best thing about accelerated underwriting is that when you are completing your life insurance application, it changes based on how you answer questions.
By the end of the application, the underwriting has been completed, and an answer can be made based on real-time data.
Approval & Payment
Once you have been approved, you can actually choose the final coverage amount you are happy with and make a payment immediately so that you are covered.
The process is really that fast.
Term Life Insurance With No Physical Exam Quotes
No Physical Exam Sample Rates For Women
*Rates are based on a 20 Year Term Policy - Non-tobacco Female with a preferred health rating
No Physical Exam Sample Rates For Men
*Rates are based on a 20 Year Term Policy - Non-tobacco Male with a preferred health rating
I bet you are shocked at how affordable a no physical life insurance policy can be.
But did you know:
A study conducted by Life Happens found that over 44% of people overestimate the cost of life insurance.
So, don't feel bad about it, if anything this should give you some relief about having to pay high premiums.
Best Company For Life Insurance With No Physical
While there are some great no exam term life insurance companies to choose from, we haven't found any better than Bestow life.
Check out our quick overview of them below:
About Bestow Life Insurance
Bestow is backed by North American Company for Life and Health Insurance.
North American has been around for over 100 years and was founded in 1886, and as of today North American holds an A+ (Superior) rating with A. M. Best.
Bestow believes that great life insurance should be affordable, convenient, and smart.
And every bit as straightforward as buying any other gift for your family.
Riders & Options
No additional riders or options are available on this policy yet such as the accelerated death benefits, term life conversion option, or accidental death benefit rider.
Simply Insurance Thinks
Bestow is the most affordable simplified issue, no physical exam term life insurance product in the market. We are seeing clients go from application to approval within 5 minutes.
Bestow can cover you faster than any product on the market.
Want to learn more about them? Check out our full Bestow life insurance review.
Life INSurance resources
IN THIS ARTICLE
Now that you know and understand that no physical life insurance is legit, it’s time for you to protect your family.
Remember, life insurance is NOT for you, it is for those that we will leave behind.
You can click here or on the button above to get a quote and to get your coverage started immediately. There is no reason to go without life insurance, especially now that you no longer need a physical exam to get covered.
Sa El is the Co-Founder & CEO of Simply Insurance. He is a Licensed Life and Health Insurance Agent with over 11 years of experience in the industry. He is an Entrepreneur, Insurance Educator and Field Underwriter. Sa is on a Journey to get 1 Million Families insured.