When to Consider Term Life Insurance with No Physical Exam

Reader’s Question:

Is it always a good idea to skip the physical exam with a term life insurance? I really don’t want to go through the hassle of going to a clinic if I can.

Bugz

Fort Lauderdale, FL

A lot of people do share your sentiments regarding this. Especially with the fact that more and more life insurers are offering term life insurance no physical exam policies nowadays; getting a physical examination is just a waste of time, right? RIGHT?

As with everything, there is a catch. Going with a term life insurance no physical exam policy may save you the hassle of having to go to a clinic, but it may also cause you to pay unnecessarily high life insurance premiums. This is especially true if you are young and in excellent health.

Here are some reasons when you should consider taking a physical exam for a term life insurance policy:

1. If you are overweight, clinically obese, or diabetic.

2. If you have cancer in its early stages (prior to chemotherapy).

3. If you have a life-threatening disease or other serious health conditions.

4. If you participate in high-risk recreational activities (e.g. extreme sports, taking recreational drugs).

5. If your occupation or business frequently exposes you to hazardous locations or conditions.

In any of the above cases a term life insurance no physical exam policy would be to your advantage. Many people have been denied life coverage everywhere else because of those conditions listed above. No exam term life insurance can be quite cost-effective at this point and may actually be the only option left for some individuals.

So if there really isn’t any serious reason for you to not let the life insurer know about your state of health, then do take the medical test. You can save a lot of money in the long run.