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Can you get life insurance without a physical?

Can you get life insurance without a physical?

A medical checkup is a common requirement when you’re applying for a life insurance policy.

January 21st, 2021

A medical checkup is a common requirement when you’re applying for a life insurance policy. Usually, this helps your insurance provider to assess the level of risk that you might pose. However, you can still get life insurance without medical assessment in what is known as a non-medically underwritten policy.

In this post, we expound on the variations of non-medical life insurance covers. Let’s get to it:

What is a non-medical life insurance policy?

A non-medical life insurance policy is the type of cover you get when your insurer determines that you’re in good health. Most providers require that you first undergo a medical screening to assess your health status. Alternatively, they may ask for a report from a general medical practitioner (GP) who likely has your medical history.

The information about your health is critical because it assists the insurer to calculate the risk level and determine the premiums to charge you for your global life insurance. When you pass the test, rarely will the insurance provider request a further health check. The next step will be to receive the terms of your cover, which explain the prerequisites of claiming in the future.

Surprisingly, a non-medical life insurance policy is different from a non-medically underwritten policy. Read on to find out the difference.

What is a non-medically underwritten policy?

As aforementioned, a non-medically underwritten policy is that which you can apply without answering any medical questions. It is an alternative life insurance cover for people who are unable to qualify for a medically underwritten policy because of previous health problems. This is also different to voluntary life insurance which is a form of term life insurance that is offered through employers.

Interestingly, this kind of life insurance policy has some limitations. First, it is only available to seniors or people who are aged above 50. Some insurance providers might refer to this cover as over 50s life insurance. Secondly, the policy offers a limit to the amount of claim since it’s impossible to calculate the health risk of the applicant.

Terms of non-medical life insurance policy

Whether you require a physical medical examination or just a report from your GP, there are terms that you must abide by.

To begin with, you must be very honest with both your medical examiner and the insurance provider about your health history. Both parties need to assess the degree of risk that your previous health status has to your current and future life. Furthermore, the insurer has to make estimations of the amount to charge you for a reasonable claim when the risk occurs.

Secondly, your premium will be costlier when you apply for a non-medically underwritten policy. The insurer has to bear a financial burden that’s impossible to calculate in advance. Moreover, the additional cost covers for the speed and convenience that you get using that policy.

Lastly, there’s a chance that your insurer will reject your claim when you provide inaccurate info during application. Misjudgments for your cover needs can occur with falsified health reports, which ultimately inconveniences the insurance provider. It’s crucial to realize that having previous medical issues doesn’t necessarily imply that you’re unfit for life cover.

What to do when you have previous health issues

You have to declare your health history truthfully, including the medical conditions that you’ve been treated for before. Doing this allows your insurer to understand your current health status and offer a cover that’s appropriate for you or your family.

Additionally, ask your regular medical practitioner to provide a report of your previous treatment details. If you have a hospital that you prefer to visit in the event of a health emergency, let your insurer know. The information helps to estimate how much cover you need to be fully protected.

Should you get life insurance without medical?

Well, that depends.

For starters, there are plenty of benefits that an applicant can get from the non-medical underwritten policy. Some of these include:

  • No medical exams are necessary. Physical medical examinations can be time-consuming and also costly to take, depending on the cover that you want.
  • You may be within the age limit that’s necessary for applicants who qualify. Nowadays, most insurance providers offer life insurance without medical assessment to people between 50 and 80.
  • You can apply online as long as you’re candid about your previous and current health status.

Some of the shortcomings to note include:

  • There’s a risk of not qualifying. Not everyone passes the assessment examination that’s compulsory to get the non-medical life insurance.
  • The claim has a limit, although you can buy multiple covers from different life insurance providers to bypass it.

So, there you have it! You can get life insurance without a medical as long as you’re in sound health condition. Do you have any other questions you’d like us to answer on life insurance? Please share them with us below.

Laura Bartlett

Laura Bartlett

Northern girl Laura is the epitome of a true entrepreneur. Laura’s spirit for adventure and passion for people blaze through House of Coco. She founded House of Coco in 2014 and has grown it in to an internationally recognised brand whilst having a lot of fun along the way. Travel is in her DNA and she is a true visionary and a global citizen.