Life insurance with no medical exam
When applying for life insurance, insurers need to obtain a clear understanding of your current health and medical history before quoting you. On occasions, insurers do this via a medical exam.
The decision on whether a medical exam is required depends on your personal circumstances and the information you provide during the application.
However, sometimes policies don’t require a medical at all. This can be beneficial if you have/have had medical conditions, or simply want to avoid the hassle of going for an exam.
In simple terms, there are two common scenarios where you can secure life insurance with no medical:
- If you’re young, healthy, don’t smoke, with no history of health problems, then you’re highly unlikely to require a medical. Although to secure term-based cover you’ll be asked some health-related questions during the application.
- If you take out over 50 life insurance. These policies don’t require a medical exam or even involve answering any health questions during the application, other than whether or not you smoke.
Over 50 life insurance (no medical)
Many applicants aged 50 – 85 choose over 50 life insurance, (sometimes referred to as an over 50 plan).
A major advantage of over 50 life insurance is they don’t require a medical exam or ask any health questions. Therefore, if you’re older and/or in poor health, a guaranteed over 50 plan could be a good option.
A key feature of over 50 life insurance worth highlighting is the waiting period. This defines a period of time at the start of the policy, usually 2 years, in which a claim can’t be made. (Although beneficiaries usually receive back the premiums which you have been paid during this period).
However, if you’re in your 50s or 60s and in good health, whole of life insurance may be a better option, potentially allowing you to secure more cover for a similar premium.
You may be interested in reading our blog post on life insurance options for over 60s »
Why do insurers request a medical?
Your monthly premiums are calculated by your insurer, after looking at many factors, including your current health and medical history.
The purpose of a medical is for the insurer to get a more detailed picture of your health. This enables them to more accurately determine what your monthly premium should be.
Please note, the cost of the medical, should you require one, is covered by the insurer and you don’t incur a fee.
Alternatively, an insurer may ask for permission to contact your doctor to obtain medical records. Often, this provides sufficient reassurance for the insurer to approve your policy.
When are medicals needed?
It’s important to understand that each insurer has their own unique criteria to decide whether a medical is required.
However, as a general rule, you may require a medical exam if:
- You’ve disclosed pre-existing medical issues during your application
- You’ve been refused life insurance in the past
- You’re wanting to be covered for a large sum
- Your family has a history of suffering serious hereditary diseases
- You’ve lived abroad for an extended period of time.
What’s involved in a medical?
When it comes to undertaking a medical for the purposes of securing life insurance the doctor commonly checks your:
- Blood pressure
- Blood sample
- Urine sample
- Medical history
- General fitness.
Level of cover
It’s common for the level of cover you take out to influence whether you’re asked to undergo a medical.
If you choose to be insured for a large sum it’s likely the insurer will ask you to undertake a medical. Even if you’ve had no previous medical problems.
This is purely to satisfy the insurer and mitigate their financial risk.
Although it may be tempting to withhold information during your application, to avoid having a medical, it’s vital you’re 100% open and honest.
Failure to disclose all the necessary health information could result in a future claim being declined. In fact, non-disclosure is one of the most common reasons for an unsuccessful claim.
A medical is not there to catch you out. It’s a way of calculating an accurate premium. If you’re in good health for your age you may find that you’re able to secure a cheaper monthly premium for having undertaken a medical.
Reassured’s impaired risk team
At Reassured we offer a dedicated in-house impaired risk team. Our team work tirelessly to find suitable life insurance cover for those who have been declined in the past.
We have many years experience working with a wide array of specialised insurers.
(If you’ve experienced a serious medical condition and are classed as impaired, you’re almost certainly be asked to undergo a medical).
How a life insurance broker can help you
Are you in the process of trying to secure life insurance? Utilising the services of an FCA registered life insurance broker, like Reassured, can save you time and money.
We never charge you a fee for our award-winning, no-obligation service. What’s more, we can help:
- Compare multiple quotes from top insurers
- Save you time and money
- Provide information
- Explain insurance jargon
- Help with the application process
- Provide access to our in-house customer service team.
Life insurance no medical in summary:
- A medical provides a detailed picture of your health to calculate an accurate premium
- In most cases, if you’re under 50, no medical is necessary
- If healthy with no complicated medical history, you’ll probably not need a medical
- Over 50s plans guarantee acceptance with no medical exam or health questions
- If you have suffered a serious illness you’re highly likely to require a medical
- Smoking increases the likelihood of needing a medical
- Be honest and transparent during the application
- It may benefit you to have a medical if older and in good health.