Quick Summary: American National's no exam product is one we recommend strongly. A solid company with 100+ years in business. ANICO offers low pricing and a good deal of options and riders to fit your needs.
For some, the approval time can be a bit long compared to competitors but in return, many people can get approved with health conditions other non-med carriers will decline.
Electronic underwriting will include checking these databases:
The MIB (Medical Information Bureau) is like a credit bureau for insurance applications and companies. They can see any past information you submitted about your health.
If a past application has information about your high cholesterol rates, for example, this will be seen/shared even though you are not taking an actual medical examination where your levels are checked.
2 Possibilities After Electronic Database Checks
Approval without medical records
Many people will be approved solely based on the application information and digital underwriting database checks. This will be done quick.
Medical records review
Some health conditions will need additional review of your medical history. This is NOT necessarily a bad thing, although it will add some time to the process. This review allows ANICO to approve many cases that other non-med carriers would not take.
On the application be prepared to answer many of the standard life insurance application questions about:
ANICO can give a decision on cases that do NOT require medical reviews in a few days. If your records need to be reviewed, the decision may take up to 30 days. Much of this time is dependent on how quickly your physicians comply with the records request.
Extras and Options
American National includes some very nice living benefits in their Signature Term Express policy. These accelerate payments before a death occurs to give the insured financial flexibility.
Covered under the living benefits provisions are qualifying:
- Terminal illnes
- Chronic illnes
- Critical illness
For extra cost you can add either of the below riders to fit your needs:
- Children's Term Rider
- Disability Waiver of Premium Rider
At no extra cost, a conversion privilege to permanent insurance is offered up until age 65. If the policy was purchase between age 60 and 65, at least 5 years will still be granted. No new underwriting is needed at the time of conversion. Any policy holder in good standing (paying) may convert regardless of health.
American National will give a credit of 1-year premium if the conversion is done within the first 5 years of the policy being issued.
For the Standard health class, ANICO rates will usually be the lowest available. Those in very good health who can qualify above Standard may find lower premiums at another company.
Sample No Exam Premiums - American National
40 year old male at Standard health class - pricing listed is per month
35 year old female at Standard health class - pricing listed is per month
Use our quote engine to see the rate you'd pay for an ANICO policy without the exam.
How to Find the Best No Exam Policy
We strongly suggest American National if you are looking to get coverage without taking a physical exam.
But how do I know if it's the best choice for me?
The only way is to compare all the options. Consider price, of course, but don't forget to weigh what's included in the various policies and look at how they may view your specific health history or lifestyle.
The best way to do this is to work with an independent agency that is:
You're in luck:)
We do all the above and more. If you'd like to have a no pressure chat about your options, please contact us or fill out the quote request form and we'll be in touch very soon.
Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to help you put protection in place for those you love.