LifeQuotes.com: How to buy up to $400,000 of life insurance without a medical exam

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Jan 12, 2015, 05:00 ET

DARIEN, Ill., Jan. 12, 2015 /PRNewswire/ -- LifeQuotes.com, the online life insurance exchange that offers instant quotes from 50 life insurance companies and allows customers to buy from any company shown, has good news for those who want to skip the dreaded medical examination.

Many highly-rated life insurers now offer no-exam underwriting, which are available with initial rate guarantees of 10, 15, 20, 25, 30 years and even lifetime coverage depending upon the applicant's age, state and health profile.

LifeQuotes.com makes it fast and easy to compare rates of leading life insurance companies. This image must be used in conjunction with the news release with which it was originally distributed. Alistair Berg/Photodisc/GettyImages

Depending upon the applicant's age and state of residence, no-exam coverage is available up to $400,000 and many plans now offer paperless, instant-decision underwriting.

An important new trend in life insurance is the growing popularity of plans that do not require a paramed examination.

"For those wanting to add extra life insurance coverage at surprisingly affordable rates, today's no-exam plans represent a modern, quick and easy way to secure new coverage," said LifeQuotes.com founder and CEO, Robert Bland. "But remember, medical history questions will be asked and these plans are designed for applicants who are in stable health at time of enrollment. To avoid unwanted declines, we've gone to extra lengths to display each company's actual acceptance guidelines at www.lifequotes.com so that our customers can review them before they elect to formally apply for coverage."

Sample No-Exam, 10 Year Level Term Life Insurance Rates
Female Monthly Rates						Male Monthly Rates
Age	$25,000	$50,000	$100,000	$250,000	$400,000	Age	$25,000	$50,000	$100,000	$250,000	$400,000
25	$9	$8	$9	$13	$27	25	$10	$9	$10	$14	$34
30	$9	$8	$9	$13	$27	30	$10	$9	$10	$14	$34
35	$9	$9	$10	$13	$27	35	$10	$9	$10	$14	$34
40	$10	$11	$12	$18	$38	40	$10	$11	$13	$20	$47
45	$10	$12	$14	$22	$66	45	$11	$13	$15	$25	$67
50	$12	$16	$18	$31	$80	50	$13	$18	$23	$39	$95
55	$15	$19	$23	$40	N/A	55	$17	$24	$30	$53	N/A
60	$19	$26	$35	$66	N/A	60	$22	$38	$51	$98	N/A
65	$33	$34	$47	$91	N/A	65	$44	$53	$72	$143	N/A

To apply for no-exam coverage, applicants do not need to see a doctor or take any medical test. Acceptance is based upon your answers to health questions and other information you may provide or give the insurer permission to obtain. Underwriting for most no-exam plans utilizes e-signature and/or a recorded telephone interview.

The no-exam insurers typically require U.S. citizenship, a valid social security number, and a valid U.S. residence. In some cases, coverage may be available to U.S. residents who are temporarily living abroad.

Bland continued, "Many of the no-exam plans now shown on our exchange platform offer excellent price-to-coverage values for consumers and often exceed popular association plans that may only offer coverage to $100,000 or only offer initial rate guarantee periods of 5 years. Visitors to www.lifequotes.com will see higher coverage amounts, lower premiums and longer rate guarantees."

LifeQuotes.com advises all applicants to be honest in all of your answers and to keep in mind that the insurer you choose will require your permission to check your medical information, prescription drug history and driving record. Remember to answer each question truthfully because it is a crime in all 50 states to withhold requested information or make a misrepresentation on an insurance application.

Actual plan availability depends upon your age, state of residence, weight, overall health and other factors. Plans are not available in all states. The term life policies described herein are underwritten by one or more of the following companies: American National Insurance Company, Galveston, TX under Policy Form # KC0910193 and state variations; Fidelity Life Association, Chicago, IL, under Policy Form # F3600 and state variations; Independent Order of Foresters, Toronto, ON, under Policy Form # ICC73 770620 US and state variations; Life Insurance Company of the Southwest, Addison, Texas under Policy Form # ICC12-20112 or state variations; Minnesota Life Insurance Company, a Securian Company, St. Paul, MN, under Policy Form # F76777-15 and state variations; PHL Variable Insurance Company, a member of the Phoenix Companies, Inc, Hartford, CT under Policy Form # ICC14OL4907 and state variations; Prudential Financial/Pruco Life Insurance Company, Phoenix, AZ, under Form # PFT-2007 and state variations; Sagicor Life Insurance Company, Austin, Texas under Policy Form # ICC101000/1000 or state variations; Transamerica Life Insurance Company, Cedar Rapids, IA, under Policy Form # ICC12 TL18 and state variations; United Farm Family Life Insurance Company, Indianapolis, IN, under Policy Form # 18-364 and state variations and United of Omaha, a Mutual of Omaha company, Omaha, NE, under Policy Form B630LNA07P and state variations Coverage is not available to New York residents. Premiums on level term life policies always increase after the initial rate guarantee period expires. These policies cover death by any cause in any place at any time subject to suicide exclusion within first two policy years (one year in some states).

About LifeQuotes.com
LifeQuotes.com operates an Internet-based life insurance exchange for consumers and agents at www.lifequotes.com. The company also provides private label, consumer-facing life insurance technology and fulfillment services to insurance companies, financial institutions, affinity groups, banks, credit unions, property & casualty agencies, trade associations and other affinity groups with large customer bases. The company's proprietary technology provides instant quotes and illustrations from 50 leading life insurers that enables a quick, paperless purchase process. More than 310,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984. Visit www.lifequotes.com for more information or to experience the life insurance quoting experience online. Copyright 1984-2015 Life Quotes, Inc. All rights reserved.

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