DARIEN, Illinois (May 24, 2016) – LifeQuotes.com, the online life insurance pioneer that offers instant quotes from 50 life insurance companies and allows customers to buy from any company on a paperless basis, has good news for those who want to skip the traditional medical examination: An increasing number of highly-rated life insurers now offer no-exam underwriting up to $500,000, which dramatically simplifies and speeds up the purchase process for life insurance shoppers. Instant quotes on the new no-exam plans up to $500,000 are now available at www.lifequotes.com.
Even better, some of the no-exam plans offer instant-decision underwriting, depending upon the applicant’s age and state of residence. Additionally, the LifeQuotes website offers anonymous quoting, which maximizes customer privacy.
“A sea change of product improvement is under way in the U.S. life insurance market and the news could not be better for middle market consumers,” said LifeQuotes.com founder and CEO, Robert Bland. “More and more life insurers are adding no-exam plans up to $500,000 that offer instant underwriting at unheard-of rates, which now puts high quality life insurance within reach of every American adult who has dependents and a need for life insurance.”
LifeQuotes.com recommends that family breadwinners with dependents carry no less than ten times their annual income in total life insurance and that a non-working caregiver with dependents carry no less than $250,000. LifeQuotes.com offers an easy-to-use life insurance needs calculator at www.lifequotes.com.
Rob Goss, executive vice president, added, “The new generation of no-exam plans offer a full suite of initial rate guarantee periods, typically ranging from 10 years to lifetime and there is very competitive pricing available for individuals who have non-life threatening health conditions.”
Goss continued, “In order to de-mystify the process and keep rate-ups and declines as low as possible for our customers, we’ve designed our online illustrations to display each company’s actual Acceptance Guidelines, including height and weight charts, so that customers can review them in private before they elect to apply for coverage. To the best of my knowledge, we’re the only life insurance exchange that shows actual acceptance guidelines along with the price quotes.”
| Sample No-Exam, 10 Year Level Term Life Insurance Rates |
|---|
| Female Monthly Rates |
| Age | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
| 25 | $9 | $8 | $9 | $12 | $13 |
| 30 | $8 | $9 | $10 | $15 | $13 |
| 35 | $8 | $9 | $11 | $14 | $14 |
| 40 | $8 | $11 | $14 | $14 | $18 |
| 45 | $10 | $13 | $13 | $17 | $27 |
| 50 | $12 | $16 | $16 | $23 | $38 |
| 55 | $14 | $20 | $19 | $32 | $56 |
| 60 | $18 | $25 | $27 | $48 | $83 |
| 65 | $27 | $36 | $51 | $114 | $223 |
| Sample No-Exam, 10 Year Level Term Life Insurance Rates |
|---|
| Male Monthly Rates |
| Age | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
| 25 | $8 | $9 | $11 | $14 | $18 |
| 30 | $8 | $10 | $12 | $14 | $18 |
| 35 | $9 | $10 | $13 | $14 | $18 |
| 40 | $10 | $12 | $14 | $16 | $24 |
| 45 | $11 | $14 | $14 | $23 | $29 |
| 50 | $14 | $18 | $18 | $28 | $46 |
| 55 | $18 | $25 | $23 | $42 | $75 |
| 60 | $26 | $38 | $36 | $68 | $127 |
| 65 | $38 | $58 | $88 | $212 | $444 |
LifeQuotes.com reminds shoppers that the underwriting process for these plans can entail third party database lookups, including the Medical Insurance Bureau (MIB), past medical records, prescription drug use history, driving record and other data sources. We urge all customers to be truthful in their answers to the application questions because a material misrepresentation could nullify coverage at a later date. Rate-ups and declines in life insurance can result in an MIB report history.
Underwriting for most no-exam plans utilizes e-signature and/or a recorded telephone interview.
The no-exam insurers typically require U.S. citizenship, a valid Social Security number, and a valid U.S. residence. In some cases, coverage may be available to U.S. residents who are temporarily living abroad.
