If you’re looking for a no medical exam life insurance policy, please contact us directly! We offer many different carriers and we know which carriers have the best life insurance rates for those with diabetes.
No medical exam life insurance policies can be more challenging than you might think, but have access and knowledge of the entire market, puts us in a place to find no medical exam life insurance for diabetics.
As you know each insurance company have different underwriting guidelines on what medical conditions they will insure and not insure. These policies allow you to purchase a life insurance policy without taking a medical exam. Unfortunately, you will have to answer a health questionnaire as a part of the application process. Typically, these companies can insure an individual within a few days and some it might take longer.
As with any other condition, it is very important for you to be honest about your diabetes on your application and with your agent. Since the no medical exam life insurance companies are not going to take blood they will run a background check to see if you’re being honest.
Once you sign your application, the insurance company is going to run three reports:
1. Pharmacy report- the insurance company will receive a report of all the medications that you have been prescribed. They can go as far back as seven years.
2. Motor Vehicle Report- they will run a report on your driving history for the last 5 years. They will be looking for DUI’s, excessive moving violations, suspensions and etc.
3. MIB Report- the Medical Information Bureau provides insurance companies a report of certain medical conditions, tests, lifestyle issues and recreational activities. It’s like a credit check for the insurance companies to see if you’re being honest.
If you are not truthful on your application about your diabetes or any other medical condition, the insurance company can deny future claims.
Remember, honesty wins the best policy!
For those that are looking for a no medical exam life insurance policy, you need to know the advantages and disadvantages in purchasing this type of insurance policy.
• No needles or blood test!
• Convenience- A simple application is completed and the coverage starts right away.
• Quick Approval Times – your application can be approved within 48 hours to 30 business day’s versus the typical 4-6 weeks with an exam.
• Cost- these policies tend to have higher premium rates than if you were to take an exam. The insurance company is taking on a greater risk because they will not know if you have an underlying health risk or condition.
• Face amount- there is a certain amount of coverage that you can purchase without an exam depending on the insurance company.
• Age and term length limits- some carriers only offer coverage up to a certain age and they may limit the term length.
• Policy type- not all policies that do not have a medical exam will fit every individual’s needs.
Here are a few of our carriers that offer no medical exam life insurance policies:
Sagicor No Exam Life Insurance for Diabetics
Sagicor is an A-rated insurance company that offers no medical exam coverage from $50,000 to $399,000 face coverage for a 10,15 or 20 year term policy. In most cases, your coverage is issued instantly or make take up to 72 hours depending on application.
Fidelity Life Insurance for Diabetics
Fidelity Life is one of the most well-known no medical insurance carriers and has an A-rating with A.M’s Best. They have an electronic application and their processing time is from 24 to 48 hours. Depending on age limits, they offer coverage from $25,000 to $250,000 for a 10 to 30 year term life policy.
Assurity Life Insurance for Diabetics
Assurity Life’s non med 350 offers coverage amounts from $50,000 to $350,000 between the ages of 18-65. They have very strong financial ratings but they do have longer approval times than most. They do have favorable underwriting guidelines and and in some cases they will order medical records from your physician.
ANICO Life Insurance for Diabetics
ANICO (American National) offers up to a maximum of $250,000 face coverage on a 10, 15, 20 or 30 year term policy. The processing time is about 30 days since they will order medical records.
Transamerica No Exam Life Insurance for Diabetics
Transamerica is an A+Rated company that offer a no medical exam product. The processing time can take up to 30 days or less. You can purchase up to $250,000 in coverage for a 10 to 30 year term life policy.
United Home Life Insurance for Diabetics
United Home Life offers up to $50,000 on a 20 year (between the ages of 20- 60) and 30 year (between the ages of 20-55). UHL will not order medical records therefore their processing time is 24-72 hours before a final decision will be made. As long as you do not have any other medical conditions, you may qualify for this product.
For those that have a more severe form of diabetes or if you have been declined for life insurance due to your diabetes, no worries. We can assist just about anyone in your situation. Since you’re not able to qualify for a regular life insurance policy a Graded Death Benefit policy will be your only option.
The real key in purchasing a no medical exam life insurance with diabetes is working with a high risk life insurance agent. We know which insurance companies above are going to look at your history of diabetes favorably.
Contact us today, we’ll review your diabetic health history and assist you in receiving the best rate for your life insurance today! We can be reached at 877-817-2583 or complete the online form.