These myths may make you reconsider no medical exam life insurance as an option for you.
This is a sponsored guest post provided by Responsival.
When people think of life insurance policies that do not require a medical exam, they most often assume those types of insurance are reserved only for people with serious medical issues. However, that is absolutely not the case. While this type of insurance is a great option for people with health issues, it can also be an option for people in perfect health. This misconception, on top of the many other misconceptions people often have about life insurance with no medical exams ultimately ends up unnecessarily limiting the options people have for life insurance types. Let’s debunk some of those myths and discuss some of the most popular life insurance types that do not require a medical exam.
Debunking the Biggest Misconceptions About No Medical Exam Life Insurance
What you believe to be the case about no medical life insurance may not actually be true.
Getting life insurance is a big decision, so of course, those shopping around for a policy that suits their needs want to do their due diligence when researching. Because many people have so many misconceptions about no medical exam life insurance, they may not consider this type of insurance as a legitimate option. With these 7 myths explained, no medical life insurance may be a serious contender when searching for life insurance policies.
Myth #1: Life Insurance With No Medical Exams Are The Only Option For People With Pre-Existing Conditions
People with pre-existing conditions commonly believe that they will not qualify for traditional life insurance policies or that their life insurance premiums will be completely unaffordable, thus leaving them with no medical exam life insurance as their only option. While each situation will be evaluated by an insurance carrier, many people with pre-existing conditions would be surprised to learn that they can still get a traditional policy at an affordable rate. In fact, there are very few pre-existing conditions that would disqualify someone from a traditional life insurance policy. Some of the medical conditions that may disqualify someone from traditional life insurance may include but are not limited to:
Myth #2: People Can Only Get No Medical Exam Life Insurance If They Are Old
Age is a determining factor that does indeed play part in life insurance premiums and rates. Generally speaking, someone young is expected to have a longer life expectancy than someone who is a bit older and therefore is a lower risk to life insurance companies. Just because someone is young and in good health doesn’t mean they can’t also consider life insurance with no medical exams. While they are more likely to get a lower premium and higher coverage amounts with traditional life insurance options, young people can still get quotes for policy options that do not require a medical exam. While some types do require applicants to be within a certain age range or have certain health issues, not all do. So, both traditional and no medical life insurance options should be considered.
On the flip side, just because someone is older, that doesn’t necessarily mean that no medical exam life insurance policies are their only option. Traditional insurance policies may have a higher premium rate and lower coverage, but older adults are still very likely to be approved for a policy of some type if they are in good health.
Myth #3: People Only Qualify for No Medical Exam Life Insurance If They Are Sick
While life insurance policies that do not require a medical exam are great for people who have been denied coverage from traditional policies because of their health, that’s not the only reason why someone may want to get this type of policy. In fact, people in perfect health may still prefer policies that don’t require a medical exam. Here are some common examples of why that may be the case:
Myth #4: No Medical Exam Life Insurance Applications Will Not Ask Any Medical Questions
Of course, much like the name suggests, when applying for life insurance with no medical exam, there will be no medical exam needed. However, many people assume that the application process requires no medical information at all. In actuality, that is dependent on the type of life insurance policy someone applies for, so someone may still need to answer questions about their own health or their family’s health history. For example, a simplified life insurance application will ask the applicant a few questions about their medical history in order to determine the coverage and premium amount. On the other hand, guaranteed life insurance will not ask any medical questions at all.
Myth #5: No Medical Exam Life Insurance Is Unaffordable
Typically speaking, a life insurance policy that does not require a medical exam does tend to be more expensive than that of a traditional life insurance policy. Because companies do not take as much medical information into consideration, policyholders are automatically considered a higher risk. That’s why premiums tend to be a bit more expensive. What someone considers affordable is dependent on their own personal situation. However, with options to work with a broker or an agent or shop around to compare quotes online, it is possible to find an affordable life insurance policy that does not require a medical exam.
Myth #6: Life Insurance Policies With No Medical Exams Can Provide Similar Coverage as Traditional Life Insurance Policies
When comparing the coverage of traditional life insurance policies to policies that do not require a medical exam, more often than not, policyholders are often able to get a much higher amount of coverage with a traditional policy. A no medical exam life insurance policy, like guaranteed life insurance, may only cover up to $25,000, whereas a traditional life insurance policy can often offer a much higher coverage amount. Sacrificing a medical exam for life insurance does come at a cost in most cases. However, many people are able to find the appropriate amount of coverage they need as they shop around for different options.
Myth #7: Coverage Is Instant Once Approved
Many people assume that when they are approved for a life insurance policy without taking a medical exam, they have instant coverage. This is not always the case and absolutely depends on the type of life insurance policy. With a simplified life insurance policy, the policyholder is covered as soon as they are approved. With a guaranteed life insurance policy, the policyholder has to go through a waiting period between 2-3 years depending on the company and the policy details. It is always best to double-check when the coverage goes into effect when getting a life insurance policy.
Common Types of No Medical Exam Life Insurance Policies
Explaining the top 3 most common types of life insurance options that do not require a medical exam
No medical exam life insurance policies are not just for people with serious medical conditions, though it can be a good option in those instances. As people shop around for a life insurance policy that works for them, no medical exam policies should be considered in the running just in case one does fit their lifestyle and needs. Of the most common types of no medical life insurance policies, people typically consider accelerated term life insurance, simplified life insurance, and guaranteed life insurance.
Accelerated Term Life Insurance
While there used to be a time when someone could only get life insurance through a broker or an agent, that’s just not the case anymore. With more and more life insurance options popping up online, life insurance policies are only getting more accessible. Now, it’s even possible to get no exam term life insurance policies under an accelerated process. Accelerated term life insurance is not something that’s offered by every life insurance provider, but it is becoming much more popular. It’s the same as a traditional life insurance policy, however, the application is much simpler and faster.
In this case, an applicant would provide details about previous health records, financial information, and lifestyle habits. With these details, companies opt to use algorithms to bypass the need for a human underwriter to review the application. Depending on the applicant’s situation, they can get a fairly high coverage amount for an affordable rate. Despite the simplicity, if someone is in poor health or has a family history of serious medical conditions, they may be denied coverage. An accelerated approach to term life insurance is a great option for people in good health who need coverage quickly, but may not be the best option if they have serious health issues.
Guaranteed Life Insurance
Guaranteed life insurance is a common type of policy that does not require a medical exam. In this instance, when someone applies for a guaranteed life insurance policy, not only is the medical exam not required but there is also no requirement for the applicant to answer any type of health questionnaire or give any information about medical history records. In an instance where health problems disqualify someone from getting any other type of life insurance, guaranteed life insurance is typically the best option.
Because many of the people who get guaranteed life insurance are in poor health, life insurance providers view guaranteed life insurance policyholders as a high risk. Because of that, guaranteed life insurance policies have small death benefits, high premiums, and long waiting periods until death benefits kick in. While it does depend on the company and the policy, people who get guaranteed life insurance can expect to only get a death benefit between around $2,000-$25,000. The waiting period for this type of insurance is on average between 2-3 years, so if the policyholder dies before that waiting period is over, the death benefit is not paid out. With this being said, life insurance providers will repay the premiums of the policyholder, oftentimes with interest.
Simplified Life Insurance
Simplified life insurance is a type of no medical exam policy with an extremely short and simple application process. While the applicant doesn’t have to take the medical exam, the application for simplified life insurance policies does tend to ask a few health questions, though that portion is fairly brief. The health questionnaire allows life insurance companies to assess an applicant's health risks in a modified format so that they can set appropriate death benefits and premiums.
While the process of getting a traditional life insurance policy can take anywhere from 1-2 months, a simplified life insurance policy may only take days for coverage to go into effect once approved. Beyond the benefit of not taking a medical exam, people typically opt for a simplified life insurance policy if they need coverage quickly. In comparison to guaranteed life insurance, simplified life insurance policies may offer a higher death benefit, which can be anywhere between $5,000-$100,000. Though premiums are a bit higher than traditional life insurance policies, simplified life insurance policies are a good route for people who need life insurance quickly.
Finding a life insurance policy can be a tough decision, and limiting the options only makes that decision harder. With these misconceptions about no medical exam life insurance policies explained, this type of insurance may no longer be ruled out as an option. Though no medical exam life insurance policies may not be the best option for everyone, they could be the right option for you.
Do you struggle with staying hydrated? Keeping your kids hydrated? You're not alone! It's recommended to drink half an ounce to an ounce of water per pound of body weight (depending on climate, exercise, diet, etc). So, a 150 pound woman should aim to drink 75 - 150oz a day!
Staying hydrated can be a real struggle, and many resort to infusing their water with tea, sweeteners, fruit, or Co2. But if you're sipping on something other than pure water all day long, it can really take a toll on your teeth!!
So I'm really excited to give you a new option which is this SCENT-BASED water bottle from JMEY, who sponsored this post! Watch my video below to see how it works, and keep reading for some up close photos AND a link to buy it (with a 15% off coupon)!!
I had never heard of a scent-based water bottle before, and was SO curious to see how it works!! Let me go over some of the key features and questions you may have:
1. HOW is it scented!?
This water bottle comes with 2 scent pods. You just use one at a time, each one lasts about 60 days. It sits around the mouth piece of the water bottle. It doesn't go into the water compartment of the bottle. It doesn't touch the water or your mouth. It simply sits there smelling like delicious peach as you drink!! It's deactivated to stay fresher when you close the top of the water bottle. You take the scent pod off when you wash the bottle and then plop it right back on after the bottle is dry.
2. Can you taste the scent??
No, at least I don't. I thought maybe smelling the peach would trick my mind into tasting it, but it didn't. It simply smells delicious and tastes like fresh pure water, making it a really refreshing and interesting experience!!
3. What comes with the bottle?
4. Is it insulated?
No... so it won't keep cold drinks cold for hours and hours (not without ice anyway), and you cannot use hot drinks in it. BUT, because it's not insulated stainless steel, it's SUPER LIGHTWEIGHT.
5. What's my favorite feature?
It's a tie between the scent pod and the lid, which has a lock you can flip up to ensure it won't open accidentally in your bag or on the floor of your car (which is a huge problem I have with my previous water bottle). When not in the locked position, you just press once to flip the lid open and drink. Super easy, you don't have to squeeze or hold anything while drinking. Then flip and snap it shut, and lock if you'll be setting it down somewhere risky (which for me is in my bag, in the car, or anywhere in my home with my kids running around!)
6. Where can I buy it??
On Amazon, of course!!! Click here (**affiliate link) to buy the JMEY Scent-Based Water Bottle with 2x Scent Rings in pink or grey, and get 15% off through March 13, 2023 - the promo code 15JMEYAA should automatically apply if clicking that link) **as an Amazon Associate, I receive commission from clicking the above affiliate link
If you haven't been to Flip Circus or any circus by the Vazquez Family yet, you are missing out!! We've been hosted to see 2 in the past year and can't wait to check out the next show at their first stop on their 2023 tour - in Yonkers NY!
No animals are used, only insanely talented (and consenting) humans - so it's more of a cirque than what you may consider a "circus", and I couldn't love it more! I'm not sure what the acts will be this time, but in the past we've seen amazing contortion, juggling, motorcycles in cages, hilarious acrobatic clowns, and much much more! Fun for the whole family!!
Check out our highlights videos below from 2 previous shows, and enter to win a 4-pack of tickets to your choice of day/time at any of their 2023 tour locations in the giveaway app at the bottom of this post. 2023 scheduled shows include:
ENTER TO WIN IN THE APP BELOW!!!
Just leave a comment and let us know in the app you did so! Any extra actions taken (some can be done daily) will earn you extra entry points :)
Giveaway open to US residents ages 18+ and will end at 11:59PM ET on Thursday, February 9. Winner will be chosen randomly, contacted via e-mail (and social if applicable) and given 48 hours to confirm win (choice of date/time/location can be finalized later on, no rush - much of their tour schedule is still in the TBA).
I'm a NYC metro area mom blogger living in NJ with my Japanese husband & our 3 kids (twins plus 1), focusing on fun and honest product and travel reviews, saving moms time finding the best for their families! Find what you need in the menu bar or search section above!