4 Types Of No Medical Exam Life Insurance For RA

Written by Heidi Mertlich

Interested in purchasing life insurance without the hassle of a medical exam? Wondering if your rheumatoid arthritis will affect your ability to be approved?

Here’s what you need to know: there are many types of no exam life insurance and most of them work for rheumatoid arthritis.

Think of it this way, and stay with me here – just like dogs, no exam life insurance comes in different types and sizes. One of these can be your best friend. It depends on your needs, health, and lifestyle.

Different Types Of No Exam Life Insurance

1. Simplified Issue

The Border Collieintelligent and tenacious.

non med life insurance ra

When you hear about no exam (non med) life insurance, Simplified Issue is likely what’s being discussed. As the name implies, this type of life insurance allows a buyer to purchase a policy without taking a medical exam.

We equate Simplified Issue to a Border Collie for some key reasons:

  • Intelligent – Simplified Issue policies are smart and are on the rise in popularity. Why they’re intelligent:
    • Healthy individuals can skip the medical exam.
    • Premium rates are competitive with traditional, fully-underwritten life insurance.
    • Policies are offered up to a moderate amount of around $400,000. (A few no exam carriers will offer policies for a higher amount.)
  • Tenacious – Simplified Issue policies are fairly ardent and inflexible. Why they’re tenacious:
    • Individuals need to be quite healthy to secure this type of policy.
    • Life insurance experts agree this type of policy is more difficult to purchase in terms of approval rates than fully-underwritten life insurance.
    • Depending on your age and health interview, your medical records may be ordered and thoroughly reviewed.

Note to those with Rheumatoid Arthritis – You can qualify for Simplified Issue depending on the status of your RA (mild or moderate, at most) and your overall health. We’ve created a comprehensive article on RA and Simplified Issue.

2. Guaranteed Issue

The Labrador Retriever – kind and even-tempered.

non med life insurance ra

Guaranteed Issue (GI) life insurance can be your best friend, and we mean this in the nicest way, if you’re uninsurable. Often, someone will be receive a decline for traditional life insurance, look for other choices and come across Guaranteed Issue. We recommend working with an expert agent to double-check your insurability. This type of policy is your, as Princess Leia would say, “only hope” if you’ve exhausted all other options.

Why we like to think of Guaranteed Issue as a Labrador Retriever:

  • Kind – Guaranteed Issue policies are compassionate and understanding. Why they’re kind:
    • You are able to qualify regardless of your health status.
    • No health questions asked at all.
    • After two years, they will pay out the entire policy benefit.
  • Even-tempered – GI policies are dependable, regardless of your situation. Why they’re even-tempered:
    • Death benefit doesn’t expire (whole life) and is constant after waiting period.
    • Easy to qualify, although they are more expensive.
    • Policies cap all applicants at approximately $25,000.

3. Graded Benefit

The King Charles Cavalier – patient and adaptable.

non med life insurance ra

Graded Benefit life insurance is a cousin of Guaranteed Issue. Think of it as your next stop, before you look at GI, if you are declined for traditional life insurance. It’s slightly more difficult to be approved for compared to GI, but your premiums will be lower.

Graded Benefit is our King Charles Cavalier:

  • Patient – Graded Benefit life insurance is tolerant of many circumstances. Why they’re patient:
    • Lenient health questionnaire.
    • Entire death benefit is paid out after typically 2-3 years (you have to be patient with Graded Benefit, too).
  • Adaptable – Graded Benefit life insurance is flexible in its ability to be a good fit for many in less than perfect health. Why they’re adaptable:
    • No strict underwriting.
    • Policy will be approved for many.
    • Usually a whole life policy, however term life Graded Benefit is available.
    • Benefits cap at about twice the amount of Guaranteed Issue, usually around $50,000.

Note to those with Rheumatoid Arthritis – Graded Benefit is often an excellent option for moderate to advanced RA. We’ve created a comprehensive article on RA and Graded Benefit.

4. Final Expense

The German Shepherd – protective and loyal.

no exam life insurance rheumatoid arthritis

Final Expense (FE) life insurance makes all the sense in the world under certain circumstances. Aptly named, Final Expense works well for those seeking funds to cover end-of-life financial needs.

We think Final Expense is like a German Shepherd:

  • Protective – Final Expense life insurance policies provide security, especially during life’s final monetary needs. Why they’re protective:
    • Provide benefits during a vulnerable time for your family.
    • Secure funds to pay for medical, funeral and burial costs.
    • Benefits range between a few thousand dollars, up to $100,000
  • Loyal – FE policies are loyal in that the protection does not waiver. Why they’re loyal:
    • This type of policy is considered whole life and the benefits will not expire.
    • Often FE policies can grow a cash value, meaning that you can access funds during the life of the policy.
    • Approval can be instant, after you pass the health questionnaire.

Compare Features Of No Exam Life Insurance Policies

No exam policies are not all created equal. One of these can be an excellent fit for you, depending on your needs, health, and lifestyle.

non med life insurance ra

Key Facts For No Exam Life Insurance Policies

  1. Simplified Issue:
    1. Rates that are competitive with traditional, fully-underwritten life insurance.
    2. Must be fairly healthy to be approved.
    3. Medical records may be ordered.
    4. Full death benefits available immediately.
    5. Benefits of up to $400,000 are offered. A few carriers offer larger benefit amounts.
    6. Term and whole life (permanent) policies available.
    7. Will work for mild to moderate rheumatoid arthritis.
  2. Guaranteed Issue:
    1. Works best for those who have exhausted all other life insurance options.
    2. No health questions asked.
    3. You are approved, regardless of your health status.
    4. Easy to qualify, but more expensive.
    5. Waiting period of usually 2-3 years for full benefits to be paid.
    6. Benefits typically cap at $25,000.
    7. Considered a whole life policy.
  3. Graded Benefit:
    1. Some health questions asked.
    2. Lenient approval rates.
    3. Less expensive than Guaranteed Issue.
    4. More expensive than Simplified Issue.
    5. Waiting period of usually 2-3 years for full benefits to be paid.
    6. Benefits typically cap at $50,000.
    7. Usually purchased as whole life, but term life options are available.
  4. Final Expense:
    1. Some health questions asked.
    2. Instant coverage upon approval.
    3. Benefits are capped at between $50,000 and $100,000 depending on the carrier.
    4. Provides money to pay for medical, funeral, and burial expenses.
    5. Considered permanent life insurance. Your benefits do not expire.

Which No Exam Policy Is Right For Me?

Determining which type of no exam life insurance policy is the best fit for you is not simple. First off, it’s important to partner with an expert life insurance agent. We’ll ask the right questions and guide you through the complexities of each type of policy.

To prepare, ask yourself two questions:

  1. What are my financial needsLife insurance proceeds cover a vast array of monetary obligations:
    1. Mortgage balance
    2. Student loans
    3. Debts – i.e. credit cards, personal loans
    4. Family business
    5. Funeral costs
    6. Private education
    7. College tuition
    8. Household needs and utilities
  2. What will my health and lifestyle allow me to qualify for? Your approval for life insurance, especially policies with larger benefits, is dependent on how you live your life and how healthy you are. Feel free to grab a pen and write down the following information about yourself in order to be prepared:
    1. Your finances – i.e. history of bankruptcy
    2. Your lifestyle – i.e. tobacco use, risky hobbies (such as skydiving or scuba diving)
    3. Personal and family medical history of:
      1. Cancer
      2. Stroke
      3. Major illness
      4. Diabetes
    4. Major surgeries
    5. Medication
    6. Pregnancy
    7. Specific to rheumatoid arthritis, you will be asked:
      1. Date of diagnosis
      2. Duration and frequency of flareups
      3. Medications prescribed for RA
      4. Any deformity as a result of RA
      5. Any disability as a result of RA
      6. Parts of body affected by RA (joints, organs)

Keep in mind – some life insurance is better than no life insurance.

Bottom Line

We specialize in working with clients with rheumatoid arthritis find the highest quality protection at the best prices available. If you have RA and are seeking out life insurance, it’s crucial to collaborate with an agent with a deep understanding of RA. At Rheumatoid Life Insurance, our job is to be your advocate. As an independent life insurance agency, we will cross-reference the top-rated life insurance companies to find the best rate for which you can be approved.

To get started, fill out our Instant Quote form

About Rheumatoid Arthritis Life Insurance
About Rheumatoid Arthritis Life Insurance

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

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2 Comments

[…] *For severe rheumatoid arthritis, there are other options. […]

July 23, 2017 at 6:00 pm

Great us of the dogs as examples in your post. As a dog lover these hit home with us. Good luck with your site and for the rest of the year.

November 17, 2017 at 7:29 pm
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