No Medical Exam Life Insurance Rates for 55 Year Olds

Written on August 9, 2016 by LJM Life Insurance

 No Medical Exam Life Insurance Rates for 55 Year Olds

No Medical Exam Life Insurance rates for 55 year olds, enter your data in the quote engine on the side of this article and get an immediate quote.

Give us a call and we will do the work for you, we do not work for an insurance company, WE WORK FOR YOU!

To get the most accurate and up to date information call us at 1-844-528-8688, we will run your quote and present all the rates for the coverage you are looking form.  No hassle, no obligation and it is absolutely FREE.

To see some comparison just click here:  http://ljmlifeinsurance.com/no-medical-exam-life-insurance-over-age-50/

You no longer need to get an exam to have the Life Insurance you need to cover your families needs.  The option I am talking about is no medical exam Term Life Insurance (sometimes called Non-Med Term Life)

It has the same benefits as any term life insurance product on the market and has coverage amounts up to $500,000.00.
No Medical Exam Life Insurance Rates for 55 year oldsPricing is competetive and usally only a few dollars more, but none of the head aches or scheduling hassles.

No Medical Exam Term life insurance rates for a 55 year old male “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term        $21.70           $24.10              $25.36         $31.30             $55.30            $97.67

15 year term        $21.70           $27.14              $33.71          $37.33            $76.55             $145.07

20 year term      $21.70           $32.15              $43.66          $47.65           $105.44           $201.49

30 year term      $21.70           $41.60             $62.18           $118.14          $286.04          *NONE

*Rates will vary by health class

No Medical Exam Term life insurance rates for a 55 year old female “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term       $21.70           $19.63           $20.16          $26.28          $40.68           $71.96  

15 year term       $21.70           $22.16           $22.65          $28.20          $51.87           $93.64

20 year term      $21.70           $25.95           $29.06          $33.77          $66.26          $124.24

30 year term      $21.70           $41.47           $50.01          $93.81         $225.20         $444.19

*Rates will vary by health class

No Medical Exam Life Insurance

A no medical exam term life insurance policy is a term life insurance policy that because of its unique underwriting, eliminates the need for a paramedical exam.  In order to qualify you do need to be in good health but there are different classifications.

The underwriting process starts by you answering some very basic health questions on the application, such as tobacco usage, prescriptions taken, driving convictions and your height and weight.

These answers are then verified by reports from the medical information bureau and, the department of motor vehicles (for your state), a pharmacy report and possibly an attending physician’s statement.

Once these answers are verified true and correct your policy is issued and your coverage will begin.  While this process is very quick it can sometimes take four to five days to complete, but when you compare that to months with taking an exam it is almost unbelievable.

Pricing for No Medical Exam Term Life Insurance

As you saw earlier in this article, the prices for a no medical exam life insurance plan are very good and more companies are offering the product which drives them down.  Call us and we will explain just how low they are and help you decide if it is the right plan for you.

With prices this low there is no longer a need for a healthy person to undergo the hassles of a life insurance examination.   No Medical Exam Life Insurance Rates for 55 Year Olds are so competitive that you need not even look at other plans if your health is good.

There are several options for someone over the age of 55 who is looking for Life Insurance, depending on the person’s needs and budget.  What coverage amount and term length you need will set the rates for you policy.

Term Life Insurance over 55 years old coverage needs

Term Life Insurance when in your fifties covers many needs, everyone looks to cover the big debts, but many people under calculate the true financial needs of the family leaving them vulnerable.

  • Rules of Income:
    1. Most Life Insurance Professionals will agree that a very minimum coverage amount would be equal to 10 times current earnings.
    2. Calculate all the major debts such as mortgages, car payments and educational expenses.
    3. What is the actual cost of the household, such as month utilities and childcare expenses.
    4.  Funeral expenses, burial plot and casket or cremation
    5.  Future college expenses for children
    6.   Retirement income for the surviving spouse.No Medical Exam Life Insurance Rates for 55 Year Olds

Top Companies Offering No Medical Exam Life Insurance Rates for 55 Year Olds

While there are several companies offering the no medical exam policies, there are a few that we have found offer the lowest rates on a consistent basis.

  1. American Amicable: Has very good rates on the smaller coverage amounts and tend to have longer term lengths for older clientele.
  2. Phoenix:  They have an lower AM Best rating than some of the larger older companies but their rates are very affordable.
  3.  Sagicor:  Carries an AM best rating of 4th best our of 16 ratings possible and consistently is in the top 5 for rates
  4. SBLI (Savings Bank Life Insurance):  Is fast becoming a favorite company for its outstanding rates and customer service, they have been in the game since 1907 and for coverage amounts over $100,000.00 they are very hard to beat.

As with any term life insurance product you have several term lengths and coverage amounts to choose from.  The standard lengths of 10, 15, 20, and 30 years can be found, although as you age the longer term lengths will no longer be offered.

Coverage amounts for no medical exam term life insurance also cover the gamut from $10,000.00 all the way to $500,000.00.  Unless you are looking for coverage over $500,000.00 or you are in poor health there is absolutely no reason not to look at the No Expense Term Life Policy, same terms, same coverage amounts without the pain and hassle of the examination.

The easiest way to find out if this type of plan is a good fit your you is to call us at 1-844-528-8688 and speak to one of our Licensed Life Insurance Agents and get a free no obligation quote.  We know what questions to ask to find out the amount of coverage that would give the most protection to your family.

Term length can be calculated in several ways, some attach the amount of time to a loan period such as a mortgage or business loan.  Others look at things such as time left until retirement or kids out of college.  Just remember that everyone’s needs and situations vary and you need to take a good hard look and what you want your life insurance to do for you.

About LJM Life Insurance
About LJM Life Insurance

We work with individuals across the nation to secure the best life insurance rates.

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