I tried to buy no exam life insurance but got denied. I thought that with no exam, that wouldn’t happen. What’s the deal?
Answers | 3
"No exam" does not mean that they will always approve coverage. It simply means that they will cap the amount you can buy at no more than about 400K depending on the carrier, omit the exam, scan for prescriptions or other mortality indicators, and then move to approval where it is feasible to do so. When seeking no exam life insurance, it is a good idea to disclose as much as possible to your advisor so that your expectations may adjust to reality- and so that you avoid disappointment.