In this post today, I will go over how to get life insurance without a blood test, how it works, and which company offers the best version of this type of life insurance.
No physical life insurance goes by to instant life insurance
It is, in "Plain English" life insurance that does not 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 is very new, groundbreaking is a policy with no physical and get approved in 5 minutes.
What makes term life insurance without a physical exam so enticing is
Get Covered Without A Visit From A Nurse
Usually, when you have a complete 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 have a physical and blood test to get the process started for your life insurance application.
Avoid Dealing With Needles
One thing I don't enjoy about dealing with nurses is that eventually, they are going to pull out a needle.
Not only do blood tests intimidate us, but they also hurt like hell sometimes, and if you hate seeing blood, it gets even worse.
A few years ago, I was on a web conference called Lightning Speed Life Insurance.
Their lightning speed approvals came out.
I was excited because I figured it had a new concept. to a 75-day average.
Can you imagine waiting for 75 days to get an answer on your life insurance? Most people even forget they applied for coverage.
There are no longer any need to worry about the blood tests for your life insurance when you pass by.
So, you are probably wondering, how is this possible? How can I avoid a blood test and still get life insurance?
Well, let me explain:
Medical Information Bureau (MIB)
The MIB is a non-profit organization of insurance companies that together track when you last applied for life insurance.
They use this information to determine your eligibility for insurance.
Let's say you were declined for life insurance 2 years ago due to COPD by Company A.
Company B would be able to see the reason you were declined if you were to apply for coverage today .
Intelliscript (Prescription Drug Report)
The next report is pulled over all your prescription drugs.
Whenever you fill a prescription, it is logged to IntelliScript regardless if you ever take the medicine or not.
The insurance companies will see you filled the prescription and treat it as if you did take the medication.
This report is mainly used to confirm the answers to your application.
Your motor vehicle report is checked to make sure you do not have a license due to reckless driving.
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.
By the end of the application, the underwriting has been completed and can be made based on real-time data.
Approval & Payment
You have been approved, you can actually choose
* Rates are based on a 20 Year Term Policy – Non-tobacco
* Rates are based on a 20 Year Term Policy – Non-tobacco Health with a preferred health rating
But guess what:
A study conducted by Life Happe ns found that over 44% of people overestimated the cost of life insurance.
Bestow you can buy more than any product on the market.
Want to learn more about them? Check out our full Bestow life insurance review.