500k life insurance no medical exam?. It is effortless if you are aware of where to find it.
There are very few life insurance firms that provide no-exam Life insurance plans. The biggest issue with many of these firms is that they only have a limitation on benefit limits. This means the maximum amount you can avail to you is low.
Most companies that offer only medical-only life insurance will only provide a minimum of $250,000.
For many Americans, these coverage amounts are just too small to provide adequate protection for their families. Unfortunately, that means many families could be severely underinsured.
How Much Does A 500k Life Insurance Policy Cost?
The typical cost of $500,000 with no examination life insurance with a 20-year term for a 37-year-old woman is $22.67 each month, and for males, the price is approximately $30 each month for the same amount of coverage. However, be aware that various variables could impact your rates, like the length of your term, smoking habits, and the amount of coverage.
Sample $500,000 Life Insurance Rates For Men & Women
|Age||$500,000 (Women)||$500,000 (Men)|
|20 Years Old||$18.00||$25.00|
|25 Years Old||$18.00||$25.00|
|30 Years Old||$20.00||$26.00|
|35 Years Old||$24.00||$33.00|
|40 Years Old||$34.00||$43.00|
|44 Years Old||$47.00||$60.00|
*Rates are based upon the 20-year No-Exam Policy – Non-tobacco Female and Male with the highest health rating.
Best 3 500k life insurance no medical exam
1. SBLI $500,000 No Exam Life Insurance
SBLI is, without a doubt, one of our most popular “go-to” life insurers in the field of low-cost, no-exam coverage for life. The rates are so low that they’re just one-third higher than the amount you’d get for a comparable term insurance policy that requires a medical examination.
SBLI offers its most popular no-medical exam life insurance policy, “Guaranteed Level Premium Term.” It is a term life insurance policy that only provides death benefits.
SBLI Terms SBLI has many terms to choose from, that allow you to choose 10 years or 15/20 or even a 30-year period. In order to pass the no-exam fast underwriting procedure, be aware that there is an age restriction that is applicable.
Age Requirement to SBLI No Test You must be between the ages of 18 and 60 years old in order to be qualified.
SBLI will be looking at all risks and table ratings.
The Policy Face Amounts The policy’s minimum and maximum face amounts for this policy is between $100,000 and $500,000.
2. Sagicor $500,000 No Exam Life Insurance
Sagicor also provides a affordable life insurance policy of $500,000 with no Medical exam insurance term. Here are a few of the most important features they provide and how you can be eligible. The no-medical exam the life insurance is referred to by the name of “Sage Term.”
Sagicor Terms – Sagicor provides options for 10, 15 and 20 year durations.
Age Requirement to Take Sagicor No Test The applicant must be between 18 and 65 years old in order to be considered eligible.
Policies Face Values The policy’s minimum and maximum face amount of this policy is between $50,000 and $500,000.
Conversion feature You can also choose the option of switching your term insurance policy into permanent Life policy when you reach 70 or at the end of the term policy’s level.
3. Phoenix $500,000 No Exam Life Insurance
Phoenix is also provides an insurance for life of $500,000 with no medical exam term insurance policy. However, they are slightly more expensive.
They do offer numerous benefits in comparison to the two other life insurance companies mentioned above. The primary benefit is that they provide a wider range of health-related issues. Phoenix also comes with a package of four Life insurance riders that can be part of the insurance policy as well as another rider is available for an additional cost.
In addition, they are more flexible when it comes to the age at which you can apply. Their no medical exam Life insurance is referred to in the form of “Phoenix Life Safe Harbor Term.”
Phoenix Terms – Phoenix provides options for 10 15-20, 20-20 as well as a 30 year term.
Who Needs A 500000 Life Insurance Policy?
The following is an alphabetical list of individuals who may be eligible to receive the $500,000 term life insurance that does not require a physical examination:
A Stay At Home Spouse
You may not be aware of this however, a stay-at-home home spouse performs an invaluable job, and not to have life insurance is not a good choice. They help keep the family moving by making sure food is at the table, taking care of children and keeping their spouse on track.
Losing an at-home spouse can cause all kinds of financial difficulties which you’d never even consider. What if you had to decide who would clean up the house, look after the kids, or motivate you to wear to your job?
You will likely require some time off work to process the loss and could even seek counseling. However, a $500,000-per-year life-long no-exam policy could pay for not only their last expenses, but also aid in paying off the mortgage and aid in keeping their home clean.
If you’re the sole parent and you are a single parent, you should, and I mean must, be covered by life insurance. It is the final source of protection for your kids , and the person who is in charge of their financial future.
$500 000 could seem to be a lot, but should you die unexpectedly, you would want your children in a position to pay for certain things. For instance, the house, paying for funeral expenses and, at most, having money left to allow them to live.
These things could be a lot. Consider if you own a mortgage of $250,000 and a car loan, and two kids.
$500,000 is just the amount you must be able to pay for the house and ensure your children are in a financial position.
Small Business Owners
As small-business owners, we are accountable for the life of our families as well as, sometimes, the families of our colleagues.
Term life insurance coverage is the most valuable gift we can offer our families and businesses. What will happen if you die and your spouse cannot understand how to manage 25 percent of your business?
Your business may only succeed with the help of. But, if you received a five hundred thousand dollar life insurance policy that paid your family members, they might last.
They could employ someone who can manage the company while they cope with the grief.
Being freelancers, We are accountable for everything. And without us, there is no money coming into. Therefore, we are at the highest risk when obtaining life insurance since the risk is ours.
If we die suddenly, the family’s income will drop to zero, and they’d be in a financial mess. So a life insurance policy worth 500k without a medical exam is likely one of the best decisions you could take.
Does a $500K insurance policy suffice?
A $500K life insurance plan will help your family if something unexpected occurs. But is enough? Experts suggest carrying at ten times your annual income. Another way to determine your coverage needs is using the DIME equation (debt + earnings + loan + education). Then, combine these four variables to give you a clear understanding of the coverage you require.
Debt: The sum of any outstanding debts like credit cards or student loans bills
Income: Divide your earnings by the number of years your family would require financial support ($50k salary per year x 10 years equals $500k)
Mortgage: Balances on mortgages or the cost of housing
Education: Estimate the cost to cover your child’s tuition