Your health determines your approval and premium. In 2021, it had $39 billion of life insurance policies in force and $419 million in total assets.įor standard policies, you’ll need to complete a medical questionnaire, but there is no physical exam. Illinois-based Fidelity Life offers a range of term, whole life, and accidental death life insurance products. There is a two-year waiting period for full benefits, except for cases of accidental death, when the full death benefit will be paid. Plus, policies are issued from ages 0 to 100 years old. With the guaranteed issue whole life policy, you cannot be turned down for a cancer diagnosis, and your premiums won’t increase, providing you pay on time each month. You’ll need to contact an agent to understand if you’re eligible for these policies with a cancer diagnosis and what your costs would be. This means that should you receive a diagnosis of a terminal illness, your policy will accelerate some or all of the death benefit, allowing you to live out your remaining time with added financial security. Plans include a no-cost Terminal Illness Accelerated Benefit Rider. These simplified issue products do not require medical exams, blood work, or statements from your doctor, but you will need to complete a 10-minute phone interview and answer health questions. United Home Life offers four simplified issue life insurance policies with no physical examination requirement, making it our best for no medical exam choice. Headquartered in Indianapolis, these companies now have a joint $2 billion in assets and over $20 billion of effective life insurance policies. United Farm Family Life, the parent company of United Home Life Insurance Company, started in 1937. There are also options to customize your policy with accelerated benefit and waiver of premium riders, but those who require coverage greater than $25,000 may need to consider other AARP policies with higher death benefits. Your rates won’t increase once AARP approves you, and there are no further premiums past age 95, thanks to the “paid-up” benefit which keeps your coverage in effect for the rest of your life with no additional payments. (Note that rates may vary by location.) A drawback is that you’ll have to make payments for two years before your named beneficiaries are eligible to receive benefits should you pass away. Sample costs for a 50-year-old female are $111 per month, and $158 for a male, for the maximum $25,000 of coverage. Using the AARP website, you can get a basic quote. It features guaranteed acceptance providing you are not terminally ill, and there’s no need for an invasive physical examination despite a cancer diagnosis. Providing you’re over 50 and become an AARP member, you can choose AARP’s Guaranteed Acceptance Life Insurance. Its life insurance policies are underwritten by the New York Life Insurance Company, which has an impressive A++ rating with AM Best, indicating superior financial stability. This may depend on the type of cancer diagnosed, time in remission, and other factors.ĪARP is a not-for-profit organization that aims to empower Americans over 50. People in remission should contact Mutual of Omaha to determine if they could qualify for other life insurance products. (Note that rates may vary by location.) This policy includes an Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider. For $25,000 in coverage, this is around $75 per month for a woman and $99 for a man. Sample premiums for every $1,000 in coverage for a non-tobacco using 50-year-old or woman the monthly policy increases by $4 and $3 respectively, plus an annual policy fee of $36. Your premium is based on your answer to some basic health questions including tobacco use, medications you take, any family history of significant conditions like cancer, diabetes, or heart disease, and whether you’ve been diagnosed with any similar health issues. You can get both a quote and purchase your policy online. Living Promise policies may contain a graded benefit, meaning if you die during the first two years, your beneficiary will receive all premiums plus 10%. Its A+ (Superior) rating from AM Best speaks to its reliability.Ī streamlined underwriting process and products suitable for cancer survivors make it a worthy overall pick.Īn option for cancer patients ages 45 to 85 is the Living Promise policy, with coverage up to $25,000 and a medical exam is not needed. Mutual of Omaha has been serving clients since 1909 and currently offers a diverse range of offerings, including permanent and term life insurance.
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