No Physical Whole Life Insurance
No physical whole life insurance is permanent coverage that will last for the rest of your life, as long as
you continue to pay your premiums. This type of coverage can provide a lot of peace of mind because there is no
expiration date, like there is with a term policy. Unlike a
traditionally underwritten policy, you can obtain whole life insurance with no physical examination. To qualify,
insurers will ask you to complete a health questionnaire on the application and your medical history and
prescription history will be verified through various reports. Some companies also require a phone interview to
record your answers to various health questions, including your height and weight.
There are three types of no physical whole life insurance policies:
- Simplified Issue Life Insurance: This is permanent whole life insurance coverage with day
one coverage. This type of no exam whole life insurance coverage is best for people who are in pretty good
health.
- Graded Issue Life Insurance: This is also permanent life insurance coverage, but there is
a two year waiting period before the full death benefit will be paid out. This type of no exam whole life
insurance policy is designed for people who have some health problems.
- Guaranteed Issue Life Insurance: This is permanent life insurance coverage for those who
have major health issues. This type of no exam whole life insurance coverage is graded (see above) and no one
is turned down.
How to qualify for whole life insurance without a physical?
If you think that no exam whole life insurance is the right type of policy for you, then the first step is to
shop around. Rates can vary by as much as 70% from one company to another, so it definitely pays to compare from
several carriers before you buy. Get a quote for no exam whole life insurance and compare
multiple rates from the nation's highest rated carriers.
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