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No Exam Life Insurance? need info
Mrs.Moos   Intermediate CA USA Member since 2002 Posts: 2218	Login to reply to this post Like this post Date: 1/30/12 2:27 PM OK I am turning another year over soon and I just read about a woman younger than I, falling asleep and NOT waking up! Being a SAHM Mom, I never got life insurance but now that I am working, I think I need it. But I haven't been in for a physical in a while (I know I know) and now have a fear of "pre-existing condidtions" not that I am "falling apart at the seams" but I AM OLDERso who knows. So I need all the info I can get on "no-exam" life insurance. Anybody? Please? ------ Brother ULT 2002D, Babylock Eclipse SX, Juki MO654DE, Singer 15-91
tgm and Kittys Advanced Beginner WI USA Member since 2010 Posts: 5051	Login to reply to this post In reply to Mrs.Moos Like this post Date: 1/30/12 3:15 PM I have Colonial Penn life insurance. Mine is only enough to pay final expenses. There is no health exam, no pre-existing condition & you can pay monthly right out of the bank. I find it is reasonable cost for me ..... being as I do have multiple red flag health issues other places charge a fortune IF they insure me at all. So it is so much per unit depending on your age & the amount never ever changes. I have 3 units. ............... also we added accidental life insurance on our car. It is $1.00 extra per month & then if either of us or both of us are killed in an accident our beneficiaries are paid $10,000.00 for each of us. ..... Colonial Penn does have a toll free number & their customer service is very good. oops typos... -- Edited on 1/30/12 3:16 PM -- ------
pkoller Advanced Beginner AR USA Member since 2010 Posts: 37	Login to reply to this post Like this post Date: 1/30/12 3:31 PM Before I became disabled I was an insurance agent. First, check with your employer to see what is available. Rates through a group plan are generally better than an individual policy. You could also check with your auto insurance agent to see what they offer. Before you sign up with any company check with your state insurance department to see what their record is. Some states have this information available online. They will be able to tell you how many complaints have been filed against the company. Different companies have different criteria for excluding people. You may be able to pass a physical exam. I hope this helps. If you have more questions I will be happy to help all I can. Good luck! Patricia
Sweetsong   Advanced MI USA Member since 2005 Posts: 857	Login to reply to this post Like this post Date: 1/30/12 3:41 PM Not only should you check on the reputation of the company, but make sure to check the reputation, for possible complaints, and licenses of the particular agent. (I work @ an insurance agency, but not as an agent.)
pkoller Advanced Beginner AR USA Member since 2010 Posts: 37	Login to reply to this post In reply to Sweetsong Like this post Date: 1/30/12 3:46 PM Very good point. As in all professions, there are a some bad apples. Make sure you do your homework. Patricia
SouthernStitch   Advanced USA Member since 2002 Posts: 5858	Login to reply to this post In reply to Mrs.Moos Like this post Date: 1/30/12 3:50 PM If you are 50 you can also join AARP and they have one. I need one of these too. DH is always making comments that I don't have life insurance for him except the paltry one here at work for like 12K. I tell him that he won't need it if I drop dead, as he makes so much more than me he can afford the bills. On the other hand, if he died I would need it. Thankfully he is healthier than me. I have diabetes, and wow, do they want to charge a fortune for that! ------ Bernina 730E, 350PE Babylock Audrey Singer 201, 221FW Viking 6570 When life gives you green velvet curtains, make a green velvet dress.
Michelle T Intermediate BC CANADA Member since 2002 Posts: 3928	Login to reply to this post In reply to Mrs.Moos Like this post Date: 1/30/12 4:07 PM I know I am in Canada and this may not apply to you. Here the amount of insurance you want will in part determine if you need a physical. I was a healthy 40yo when I got my life insurance. I needed an exam (simple blood, urine, pulse, BP, weight etc) in my home, because I got an unusually high value policy. If I had got a policy under $100,000.00 I would not have needed the exam. I also had to prove why I needed the high value policy. ------ Proud parent of a Dwight International School Honour Roll Student
GlButterfly Intermediate CA USA Member since 2008 Posts: 1897	Login to reply to this post Like this post Date: 1/30/12 5:45 PM Check with your banks as they sometimes offer life insurance policies. If they are not large enough, you can get one each from other banks. I also got one through a credit card. The limits are low, but no exam is required, but this one did come with a premium which is $15 every three months. We attached my life insurance with my hubby's policy. I never fully understood it, but it's sort of a rider. We are allowed to increase it without a medical exam (but then we did get it many years ago). This might be a good time to remind everyone that in the event of your spouse's death, be certain to check for any of these policies. Full life insurance policies from your agent are obvious, but these from banks or credit card companies may be just one sheet of paper and be forgotten. (These companies are probably counting on that.)
Miss Fairchild   Advanced USA Member since 2002 Posts: 5451	Login to reply to this post In reply to Mrs.Moos Like this post Date: 1/30/12 7:17 PM The one thing you need to keep in mind is that some companies won't pay the full amount if you don't have the full amount vested. My friend who passed away recently signed up for a life insurance policy that advertised $15,000 in burial expenses. When she passed, six months after she started the policy, her daughter counted on that money to get through, as my friend was a big contributor to the household income. What happened is something of a nightmare. My friend's daughter received just $700 on that insurance policy, at a time when she really needs the money. ------ "Having to squeeze the last drop of utility out of the land has the same desperate finality as having to chop up the furniture to keep warm" -- Aldo Leopold "And no, now that you asked, I didn't enjoy that play one bit!" Signed, Mrs. Lincoln
justgail Intermediate IA USA Member since 2006 Posts: 349	Login to reply to this post In reply to Mrs.Moos Like this post Date: 1/31/12 11:01 AM Quote: Mrs.Moos Being a SAHM Mom, I never got life insurance but now that I am working, I think I need it. This comment is for SAHMs (and SAHDs) - GET LIFE INSURANCE!!! Should something happen, I don't think there is a magic fairy that will show up to take care of everything you do now, and do it for free. At a minimum, there will be child care expenses. Even if you do have relatives and friends to step in and help out, how long are they willing/able to do so for free? If there is such a magical fairy, it must be hiding with the house-work and cooking fairies that are AWOL from my house. edited to add - look for term life insurance. yes, once the term is over, you have nothing, but then again, whole life policies are usually not a great investment. -- Edited on 1/31/12 11:05 AM --

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