Insurance Types
Learning Center
Simplified Issue Life Insurance
Simplified issue life insurance is a policy that doesn’t require a medical exam. This type of coverage is usually marketed to senior citizens who have limited options for life insurance coverage. However, people of all ages can apply for life insurance without a medical exam. If you do have serious medical conditions or chronic diseases, you can still be denied coverage however. You have to answer a few health questions to get this coverage and you should never lie because that’s considered insurance fraud and isn’t the right way to handle things.
If you need more than $500,000 in coverage, simplified issue life insurance might not be right for you. There are many other life insurance policies that have much more affordable prices for coverage over this amount if you take the time to look around.
Simplified life insurance is more expensive because the insurance companies usually face a higher risk since they have no idea who they are insuring or what type of risk you have. For people who have no other options, however, simplified insurance plans are often better than nothing at all. Even paying a few dollars more a month is better than leaving your loved ones with financial burden.