It is important to understand that not all companies view various health and lifestyles the same. At TermLife2Go, we focus on the niches of the top life insurance companies, as well as the top no medical exam companies. As a result, we can place our clients with the right company based on each client’s unique need. Call today to see what we can do for you!
Or you can check out our Life Insurance Quotes page and compare exam vs no medical exam life insurance options on your own and then just give us a call if anything looks like it’s going to meet your needs!
Life Insurance at age 41.
Buying life insurance at age 41 usually isn’t going to be a problem. However, as a consumer looking for the best possible life insurance rates by age, there are a few things that you should be aware of before actually applying for life insurance at age 41 such as:
- What is the difference between the types of life insurance policies that require an exam and ones that don’t?
- Does it help to apply for life insurance directly with the insurance carrier themselves?
- What is the best policy for me and my family?
Without having the answers to these questions before buying life insurance in your 40s could mean the difference between getting approved at a preferred rate or being denied for life insurance all together.
Let’s us explain:
What is the difference between policies that require a medical exam and ones that don’t?
Just so you know, getting a million dollar life insurance policy with an exam and without an exam is available.
Most 41 year olds looking for life insurance for the first time will likely go the traditional route and apply with a life insurance carrier that will require a paramedical exam. This medical exam will be paid for by the insurance company and will inquire into things such as:
- height and weight,
- blood pressure levels,
- cholesterol levels,
- a blood sugar screening,
- and a urine sample.
- See, exam v. no exam
Now all of this will be pretty routine and in most cases this exam really won’t be a big deal. Unless of course your cholesterol or blood pressure levels come back too high. Or maybe the exam results uncover that you have elevated blood sugar levels, which according to the American Diabetes Association, is true for an estimated 7 million Americans who have not yet been “officially” diagnosed with diabetes. The good news is that diabetic life insurance with or without an exam can still be had.
In these situations, the “free” medical exam does become a big deal because that exam is going to lead to an increase in the cost of your life insurance. In certain situations it could even result in you being denied for life insurance.
But what if you didn’t have to take a medical exam to be covered? What if there were policies that would simply:
- ask a series of medical questions,
- run a prescription database check,
- and make sure you have a clean driving record.
Wouldn’t it make sense to apply with these companies first? At TermLife2Go, we think so. Which brings us to the next important question:
Does it help to apply for life insurance directly with the insurance carrier?
Short answer: No, you’re probably better off not applying directly with the carrier.
Life insurance rates are determined by the insurance company. The rates the life insurance company chooses are submitted to the state insurance department for approval.
From there, any insurance agency selling that policy must charge the “approved rate”. So for this reason you will get the same rate on any single policy, no matter where you purchase it.
But if you apply with a single carrier you will be subject to their underwriting guidelines and only their underwriting guidelines. So if you do have a preexisting condition or currently take a prescription medication that could change your rate with a single carrier, you won’t know if you could have received a better deal elsewhere. The only sure way to know that you are going with the best company is to work with an agency able to shop your application with dozens of difference insurance companies.
This why working with a agency like TermLife2Go, that has the freedom to pick and choose from dozens of different life insurance carriers, is going to give you the greatest opportunity to lock down the best possible rate for you and your family.
What is the best policy for me and my family?
Short answer: It depends.
Most financial advisors are going to recommend a 15 to 30 year term life insurance policy depending on your family’s needs. Here at TermLife2Go, we typically find that these cheaper term life insurance options are usually the best fit for our clients
But that is not a decision for us to make for you. Our role here at TermLife2Go is to simply lay out the options open to you and help you in making the best decision for you and your family.
We’d like to take a moment and let you know that we here at TermLife2Go don’t live in a bubble! And that fully understand how difficult it is for a family to simply “get by” nowadays. And while we would all love to be able to purchase a 100 million dollar term or whole life insurance insurance policy on ourselves so that our loved ones will be forever taken care of should we pass away too soon, but who can afford such things!
This is why…
We’ve also chosen to write several articles sharing some of the knowledge that we have acquired over the years working with 1000’s of clients concerning how they make a living.
Just about every time we complete a life insurance application for one of our clients, one of the first questions that we have to ask is:
“what do you do for a living?” and “what would you estimate your annual income as?
Which means that over the years, we’ve become really familiar with a wide range of different career paths and opportunities that a person can take.
Some of which you would probably never think of on your own!
Our number one goal here at TermLife2Go is to help individuals and families secure their own financial security and independence, we wanted to share with you what we’ve learned.