No Medical Exam Life Insurance Rates for 67 Year Olds

Written on August 20, 2016 by LJM Life Insurance

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No Medical Exam Life Insurance Rates for 67 Year Olds

No Medical Exam Life Insurance Rates for 67 Year Olds are here, right at your finger tips.  Simply add your information into the quote tool and get an instant quote to compare companies and rates.

You can get help and a free quote by calling our Licensed Life Insurance Agents, toll free at 1-844-528-8688.  We will do everything for you, with our extensive knowledge and experience you will get the correct quote on the coverage you need.

For a better understanding of what a No Medical Exam Life Insurance policy is, read through our article for some detailed information on how to determine if this policy is the right coverage for you.

Life Insurance Options for Persons age 67

It’s no secret that our health doesn’t get better with age, unlike wine the older we get the more issues arise and the Life Insurance Companies are well aware of this fact.  Getting coverage is not a problem, but some of the term lengths will be shorter and high coverage amounts could be priced out of reach.

A very popular product is the no medical exam Term Life Insurance (sometimes called Non-Med Term Life).  The product is exactly as the name states and eliminates the need for taking an inconvenient in-home para-med exam.

More companies than ever before are now offering No Medical Exam Life Insurance and with competition increasing for your business the rates are going down.

See sample monthly rates compared by five years difference in this post No Medical Exam Life Insurance Over Age 60 the options and term lengths for will be less the older we get.

This does not mean you can not get Life Insurance, what it does mean is that as you age your risk category rises and the Insurance Companies that offer No Medical Exam Term Life Insurance will not accept that risk.

Some other popular options for older persons looking for Life Insurance are fully underwritten Term Life Insurance or Guaranteed Issue Life Insurance.

No Medical Exam Term life insurance rates for a 67 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          $55.04             $59.63         $112.95          $266.40          *None

15 year term        *None          $70.85            $103.78        $161.46          $381.60           *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 67 at preferred rate class. 

No Medical Exam Term life insurance rates for a 67 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          $45.87              $39.28              $72.27              $166.73         *None

15 year term      *None          $55.02             $59.04             $111.78              $261.68         *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 67 at preferred rate class.

Underwriting for No Medical Exam Life Insurance

  • Basic Underwriting questions (that can vary between companies but normally consist of):
    1. Basic medical history
      • Your records on the MIB are often checked
      • Pharmacy Report
    2. Non Smoking or Smoking (tobacco usage)
    3. Automotive Infractions (last 2 years)No Medical Exam Life Insurance Rates for 67 Year Olds
    4. Build or BMI
    5. Citizenship
    6. APS
  • Decisions
    1. The decisions will be most likely within 24 hours and many times just a few hours
  • No Paramedical exam is needed
    1. No exam is needed, you will be approved or declined on your answers and backround alone.

For a plan that is issued fast and designed for healthy individuals sounds like something that would cover your needs, take a hard look at No Medical Health Exam Term Life Insurance.

How is my Medical History Checked?

To verify your information the reports and bureaus below will be checked.

  • MIB:  The Medical Information Bureau and the report is from an industry wide database where Life and Health Insurance companies share health and longevity information that is taken from previous insurance applications.
  • Motor Vehicle Report:  Your driving record is checked for DUI’s (OWI), reckless driving tickets, suspended license and excessive moving violations.
  • Pharmacy Report:  Every prescription medication that you take is entered into a database, Life Insurance companies have an outside source review this report to help them verify your answers to the questions and aid in the approval of your application.

Is a No Medical Exam Life Insurance Policy a Good Option

A no medical exam Life Insurance is a good option for you if you are in good to decent health, and are looking for a plan to start now.

No Medical Exam Life Insurance Rates for 67 Year Olds

The prices for no medical exam term life insurance today are very close to a standardly underwritten term life insurance policy, it only cost a few bucks more to avoid the hassels of a para med exam.

To hear about all your options, call us anytime at 1-844-528-8688 and we will gladly go over the details with you.

Your health does not improve as you get older, everyone knows this, so to get the lowest possible premiums you need to start your no exam life insurance as soon as possible.  The rates below are examples of what just 5 years makes in prices.

No Medical Exam Life Insurance if You are Age 67

Life Insurance, at age 67 is normally used for retirement income preservation and for burial expenses.  Term Life Insurance can and will cover these needs for the length of years that you decide you need.  How ever at sixty seven you will not be able to get terms longer than 15 years and might not be able to get the higher dollar amounts of coverage.

At this age you might want to look at something called Final expense whole life, which is whole life or permanent insurance usually in smaller coverage amounts.  Not that you cannot get term coverage but depending on your health and needs we might have to look at alternatives.

At LJM Life Insurance we carry all types of life insurance and all the top rated carriers, just give us a call and we will help you determine what type of coverage best fits your needs.

Term Life Insurance for 67 years old

The reasons for having life insurance coverage varies for everyone and every age group.  The older we get the less we are looking at debt reduction and the more we are looking at No Medical Exam Life Insurance Rates for 67 Year Oldsincome/retirement replacement for a surviving spouse.  The reasons you purchase coverage are unique to you along with the amount of coverage you need.

Many age 67 have their major debts paid off or close, and are in need of more maintenance income for a spouse or cash for leaving a legacy.

There are some basic things you need to think through when calculating how much coverage you need.  At this age income is more than likely retirement income and most if not all of the major debt has been eliminated.

You do however still need to look at funeral expenses and monthly costs of the household, also what type of cash flow will your surviving spouse or beneficiary need to survive.  Are you looking to leave a legacy or inheritance to your children or grand children?  What about medical expenses left by a long term illness?

Just call 1-844-528-8688 and we will help you calculate the type, length and amount of coverage you need to complete your goals.

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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