No Medical Exam Life Insurance Rates for 66 Year Olds

Written on August 20, 2016 by LJM Life Insurance

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No Medical Exam Life Insurance Rates for 66 Year Olds

No Medical Exam Life Insurance Rates for 66 Year Olds.  If you are looking at Term Life Insurance quotes you need to pay attention to NO Medical Exam Term Life Insurance, the pricing is very competitive and no hassle of taking an exam.

We specialize in finding the right Life Insurance product at the right price, and we are contracted with the nations top rated carriers. No need to go anywhere else, we have the right company at the right price for you.

We will be happy to run the quote for you, call 1-844-528-8688 to talk to a licensed Life Insurance Agent at no charge we will provide you with an unbiased quote on all the options available to you.

Read over this article and get the detailed information on Non-Med Term Life Insurance.  If you do not the information you wanted, please call us 1-844-528-8688 and we will answer any questions you might have.

Term Life Insurance at 66 Years Old

The older we get the less options become available for Term Life Insurance and the type of products offered change, along with the reasons you are purchasing coverage.

There is now a term life insurance product primarily for a healthy person, that eliminates the need for a medical examination No medical exam Term Life Insurance (sometimes called Non-Med Term Life)

If you have some issues with your health we will want to look at different products that will be a better fit.

As this product gets more popular and more companies are offering it, the No Medical Exam Life Insurance Rates for 66 Year Olds are dropping.  The pricing now is very close to a fully underwritten plan and the difference may be well worth skipping the exam.

Have a few health conditions?  This does not mean we can’t get you coverage, it just means that we may need to look at other products or at the very least look at the amounts and term lengths that are available.

There are several other products available for someone of this age, the two most common are, the fully underwritten Term Life Insurance and Guaranteed Issue Whole Life Insurance.

No Medical Exam Term life insurance rates for a 66 year old male “Preferred” health class (with minimal or no health issues), sample monthly rates:

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

10 year term        *None          $49.86             $53.28         $100.26          $236.25          *None

15 year term        *None          $63.80            $74.93          $143.55          $339.08           *None

20 year term      *None          *None             *None           *None             *None               *None

30 year term      *None           *None            *None           *None             *None               *None

*Rates will vary by health class and location, these are sample rates for a random zip code with person age 66 at preferred rate class. 

No Medical Exam Term life insurance rates for a 66 year old female “Preferred” health class (with minimal or no health issues), sample monthly rates:

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

10 year term      *None          $41.21              $36.59              $66.87              $153.00         *None

15 year term      *None          $49.49             $53.01             $99.72               $231.30         *None

20 year term     *None          *None              *None               *None                *None           *None

30 year term      *None          *None            *None               *None                *None           *None

*Rates will vary by health class and location these are sample rates for a random zip code with person age 66 at preferred rate class.

No Medical Exam Term Life Underwriting No Medical Exam Life Insurance Rates for 66 Year Olds

The questions on the application are very basic, the normal things that are asked on a life insurance application.

They consist of, recent health issues, your prescriptions you are taking or have taken.  It will also look at your citizenship status, driving convictions and could request a statement from your doctor.

This type of underwriting results in:

  • Fast Decision 
    1. There is no term life product out there with faster decisions, if you don’t want to wait and are in good health, this is the plan for you.
  • No Paramedical exam is needed
    1. No needles, nobody coming in your home and taking height and weight, just answer some basic questions.

To avoid taking an exam and get a quick decision on coverage a no medical exam term life insurance policy is the answer.

What do They Check?

Answers that you have given on the application are looked at and compared to reports from the following:

  • A report that has information from previous health and life insurance application answers:  The Medical Information Bureau
  • Motor Vehicle Report:  The DMV report which looks at your driving history
  • Pharmacy Report:  A data base or the prescriptions you take now and have taken in the past.

 No Medical Exam Life Insurance Rates for 66 Year Olds

The pricing is competitive, being only a small amount higher than a traditional term life plan.  The difference in premium is for the benefit of not taking an exam.

When we talk we will look at all plans available to you and discuss what your life insurance needs are, then you make the decision and fill out the application.

The older we get, the higher the premium, as with all types of insurance, age is not your friend.  When buying a term life insurance policy, it is very cost effective to purchase as young as possible.

You can see more Information here:  http://ljmlifeinsurance.com/no-medical-exam-life-insurance-over-age-60/

No Medical Exam Life Insurance if You are Age 66

When you are 66 and looking Life Insurance, there are options to fit every need.  If you are looking for coverage for just a short period of time, there is term life insurance both full underwritten and No Medical Exam Term Life Insurance.  Although at this age you will be slightly limited on term lengths.

If you are looking for permanent life insurance or whole life, you can look at final expense life insurance, which is designed to be issued in smaller amounts to help cover funeral and other small expenses upon death.

Coverage Calculations for Persons 66 Years Old

While term life insurance is the same product for a 66 year old person, the reason for having iNo Medical Exam Life Insurance Rates for 66 Year Oldst or the needs for the coverage tend to be different form someone younger with a family.

Most at this age no longer have a mortgage and are looking more at retirement income replacement.

The amount of coverage shifts to covering living expenses for a spouse instead of debt payment.

Somethings to take into account when you figure how much coverage to take, are funeral expenses (burial or cremation), lost retirement earnings, household debt, income needed for household maintenance.  Inheritance for family could also be provided by a life insurance plan.

Providers of No Medical Exam Life Insurance Rates for 66 Year Olds

 

Just as important as the right policy with the right amount of coverage is the company that is providing the no medical exam term life insurance policy.

You want an insurance company to have financial stability and have the assets to fulfill their obligations when the time comes to pay out on the life insurance policy.

This is why we constantly evaluate the companies we are contracted with, to ensure that our clients needs are always going to be covered.

Call us for a free quote and to discuss what type of life insurance will fit your needs.  1-844-528-8688.

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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