So if you would be interested in more coverage you would have to apply with two different no medical exam companies or go the regular
medical exam route.
«Other states have avoided the
exit exam route specifically because they recognized the costs can outweigh the benefits... We would be pleased to work with you and Maryland educators, parents and citizens to craft a different approach to graduation, one that would rely on local determinations of adequate achievement but that would establish methods to ensure the quality of the local determinations,» the FairTest testimony concluded.
Whether you choose to go the traditional
paramedical exam route or choose simplified issue life insurance or accelerated underwriting, most carriers are going to do a background check, which includes looking at the Medical Information Bureau, or MIB.
You can take an exam to qualify for a fully underwritten life insurance policy or go the
non-medical exam route.
It provides an acceptable alternative to
the exam route.
If you are going
the no exam route, most people will automatically get standard rates.
With
the no exam route, the process is exactly the same as the traditional exam option without the exam.
By going
the no exam route, you can avoid the «dreaded» blood draw and still get an affordable policy.
If you do not give yourself enough time to apply for the key man life insurance, you may be forced to go
the no exam route when it may not make sense otherwise.
TIP: If you want to save money but need coverage as soon as possible, you can always go
the no exam route first, securing the loan, and then apply later for a traditional level term insurance policy (requiring the exam), and replace the existing coverage.
The problem with
the exam route is I have had several experiences where customers had to reschedule their exam sooo many times that they eventually slid into doing nothing at all.
We always recommend going
the no exam route (if you can qualify), just to get coverage in force.
Depending on the situation, it may make sense to first apply with a medically underwritten policy and if you do not qualify, then go the no medical
exam route.
For someone who may have a few minor health issues, it may actually be ideal to go
the no exam route to purchase life insurance.
For instance, a 53 year male who wants $ 250,000 of 20 year term insurance policy and is in excellent health can go
the no exam route and get that for $ 2355.00 annually.