No Exam Life Insurance Companies - If you've never looked for life insurance for a medical exam in New York, you know it's not easy. In fact, there are very few companies that offer no exam life insurance in New York State. Worse, there is a lot of misinformation out there.
No medical exam life insurance is one of the fastest growing segments in the insurance industry and there is no mystery why this product is becoming so popular. Why take a life insurance exam if you can pass the medical exam and get approved without a hitch?
No Exam Life Insurance Companies
If you live in Ohio, Arizona, California, or anywhere else in the United States, you can get a life insurance policy approved in a few days without an exam, but finding a company that offers life here in New York is nearly impossible. medical care insurance. offers
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The reason is simple: the rules. New York State makes it very difficult for insurance companies to get new products approved in the Empire State.
However, there are a few companies that do not test their life insurance policies in compliance with New York's strict requirements (see chart below).
1. American General Life - AIG's NY division - is a newcomer to the no-exam life insurance sector. Lifetime issues guaranteed up to $25,000. No exam, no medical questions.
2. Metlife – Removed from our no-exam list because their retail life insurance business was sold to Brighthouse Financial. MetLife now only sells group life insurance or business policies.
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3. Basic Finance - New York has also joined the no contest companies offering coverage up to $1,000,000. However, you must be in good health to be eligible for the policy.
Streamlined Issuance/Expedited Underwriting - If you're in good health, the process is quick and easy. Expedited underwriting is a good fit for people in good health who want to avoid a lengthy application process and get approved quickly. To be eligible for this product, the applicant cannot have serious health conditions such as diabetes, heart disease or cancer. The application process simply requires answering a series of health-related questions through an electronic application, motor vehicle report and prescription search.
Guaranteed issue life insurance - also known as a guaranteed acceptance policy, requires you to answer a minimum of health questions but not undergo a medical exam. This procedure has a limited amount of coverage - usually $25,000 to $50,000. Coverage is available to anyone who applies - you can't be turned away.
Graduated Death Benefit Insurance - Graduated death benefit insurance is for people who have serious health problems and cannot get a policy elsewhere. The application usually includes health questions but does not require a medical examination. Generally, the full benefits of the policy are limited during the first two years of coverage.
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Note: This policy pays 110% of the premiums paid for the first two years of the 'death benefit' policy. Pays the full amount for accidental deaths and the full hundred for the third year and beyond.
ANICO is our #1 choice for non-medical term life insurance policy in New York. If you are relatively healthy, National Bank of America can approve your policy in less than 24 hours and issue a policy in less than 1 week.
ANICO requires an electronic application which is very easy to fill out. Their underwriting process is very generous and if you have pre-existing medical problems, diabetes or are a smoker, you may still be approved, but at the standard rate.
Amaritas offers a lifetime Jet Issue. Term and Variable Universal Life Jet are not eligible for withdrawal.
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Although there is no exam, there is an application with medical questions. They also require a tele-underwriting phone interview to confirm questions on their application.
Approval time: Application can be approved within 4 days. Underwriting classes: non-preferred tobacco, non-standard tobacco and standard tobacco.
Assured Issue Lifetime: This is a rated death benefit policy with a waiting period of 2 years for payment of death benefits. This means that if you die within the first two years of the policy, your beneficiaries will not receive the full death benefit. They will receive the premium already paid plus 10% interest.
No medical tests or medical questions to answer. You cannot opt out of coverage as long as you are willing to pay your premium. For example: $25,000 is approximately $108.00 per month for a 50 year old male.
No Exam Life Insurance Ny
Simplified Senior Whole Life: A simplified issue policy with no medical questions for candidates aged 70 and below. If you are over 71, medical questions may be asked and your policy may be denied. Gerber Simplified policies are never guaranteed to increase their premiums and policies earn competitive cash value rates.
Brighthouse Simplified Underwriting provides a simple, minimally invasive process with no exams or labs. A simple underwriting proposal is a yes or no answer. Approvals are usually granted within 24 hours of a phone application and interview. Available to US residents and non-smokers.
Prudential is one of the oldest and most respected insurance companies in the world and has just introduced a no-exam underwriting program for qualified healthy applicants. Applications can be submitted online and phone interviews must be completed within 48 hours.
While very few insurance companies in New York offer expedited underwriting programs due to its regulatory environment, Scurion is still committed to offering a fast, simple and contactless underwriting experience.
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However, due to the global pandemic, changes to their accelerated underwriting program will take effect on July 31, 2020. See the new requirements below.
1. WriteFit Program: With coverage amounts in excess of $250,000 up to $2,000,000 Customers are eligible for Preferred, Non-Tobacco Plus or Standard rates only. Priority Selection or "Premium" offers will not be available. Amount of coverage between $250,000 and $2,000,000: Amount of coverage for ages 18-50 / 51 to 60 is between $250,000 and $1,000,000.
2. RightFit Express Program: If the coverage amount is below $250,000, policies are eligible for standard rates only. Preferred Choice, Preferred and Non-Tobacco Plus offers will no longer be available. This program is available to people between 18 and 54 years of age.
This company has made taking out an insurance policy quick and easy. Approvals are usually issued within 24 hours of eApp completion.
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If you're looking for no-exam life insurance in New York, we can help. We are an independent agency licensed to do business with these and many other companies. We represent over 30 life insurance companies and will shop around to get the best rate on your behalf at no extra cost! Call 914-633-1717 or contact us if you have any questions. To support the mission of our editorial team, we may receive compensation from the products or services mentioned. Learn how to make money.
Life insurance should be a part of everyone's plan. If you've been avoiding buying a life insurance policy because you don't need tedious and sometimes painful tests, I have good news for you: many insurance providers offer no test policies!
No medical exam is exactly the same as life insurance: a life insurance policy without an exam. This means no needles, no tests and no stress.
This article will tell you everything you need to know about no medical exam insurance, including the 15 best companies that offer no medical exam insurance policies that you can buy right now.
No Medical Exam Life Insurance
Now that you have a better understanding of what no exam insurance is and how it works, let's take a closer look.
Topping the list is Heaven Life, which gets an A++ rating with AM Best (which is their highest rating possible).
People love Haven Life for its affordable insurance policies, and it's easy to see why: You can get up to $1,000,000 in coverage without a medical exam. To get access to these premium coverage policies, you have to go through an application process that depends on your age, lifestyle, background, etc. based on which they can determine your risk.
Standard minimum coverage for an unexamined applicant is around $100,000. You can buy policies for a term of 10, 15 or 20 years. If you are under 50, you have a chance of 30 years.
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Principal Financial Group is another high-priced insurance company that offers a no medical exam policy. They have an A+ rating with AM Best and can provide coverage from $50,000 to $1,000,000.
The only thing with the director's no-exam policy is that you have to pass certain conditions. As long as you can answer "no" to a number of health-related questions during the application process, you're good to go. Otherwise, you will need medical tests.
You can get up to $1,000,000 in coverage with a 10 or 20 year term through their policy and premiums as low as $8 per month.
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