The 5 types of no medical exam term life insurance
|Type of No Exam Policy||Time to Approval||Health Types Eligible||Percent of Population That Qualifies||Coverage Amounts||Price|
|Accelerated||2 – 21 days||Excellent||5%||$100,000 – $1,000,000||Best|
|Simplified Issue||Instant – 30 days||Excellent to average||60%||$25,000 – $1,000,000||Good|
|Express Issue||Instant – 10 days||Average to below average||85%||$25,000 – $400,000||Average|
|Instant/Rapid Issue (online application)||Instant – 4 days||Excellent to below average||50%||$25,000 – $1,000,000||Good|
|Group||Instant||Any||99%||$10,000 – $50,000||OK|
1. Accelerated Acceptance Policies
These are the most competitively priced no exam policies in the market. With this type of policy, the application paperwork is so clean that the company sees no need to invest in a medical exam.
For healthy people, this is the best option. Only a select group of companies offers accelerated underwriting options.