The short answer to this question is no, you do not need an exam to get final expense insurance. They are one of the few forms of life insurance that don’t require a medical exam to get approved for coverage. Let’s take a closer look at final expense plans and avoiding insurance exams.
How Do Final Expense Plans Work?
To understand why final expense plans skip the examination process, you must understand how they work. This type of policy can increase in value over time, i.e. the balance goes up as you pay in.
Final expense insurance can cover several costs, including medical bills, probate or legal fees, and other expenses. This also allows for the chosen beneficiary of the death benefit to use the funds for more than simple funeral costs.
How to Qualify for a Final Expense Plan
Final expense plans are some of the easiest to qualify for compared to other life insurance policies. If you are applying for a guaranteed issue final expense plan, you will not have to undergo any medical questions or exams to get approved for coverage.
If you choose to apply for a simplified issue plan, you will have to undergo what is referred to as medical underwriting. Don’t confuse this process with a full medical exam, as that is not required for either a guaranteed or simplified issue plan. Medical underwriting is simply a questionnaire you must complete along with your application. It will ask questions such as:
- Have you tested positive for HIV or AIDS?
- Are you currently bedridden, hospitalized, in a care facility, or receiving hospice care?
- Do you have a disease of the heart, including heart attack or heart surgery?
- Do you have congestive heart failure?
- Do you have diseases of the circulatory system, including stroke?
- Do you have cancer?
- Have you had alcohol or drug abuse?
- Do you have Alzheimer’s disease or dementia?
- Are you taking medication or been treated by a physician for any of the conditions above in the last 2 years?
Even if you answer yes to any of these questions, you may still be approved for coverage depending on the standards of the company you are applying to.
Your policy also won’t be canceled due to changes in health. Not only, then, do you not have to worry about any exams with a final expense plan, but it is also one of the few types of life insurance available to those in poor health or with pre-existing conditions, making it a great option for many beneficiaries.
Having Difficulty Applying for Life Insurance Due to Your Health? We Can Help
If you’re looking at how to avoid medical exams to get approved for a life insurance plan, chances are you may have trouble securing a good plan for your needs and budget. When all other doors have closed, we have a solution — Senior Life Services will do what it takes to get you not only the coverage you can get approved for but the coverage you actually want. When you’re ready to get started, contact us today.