Sagicor No Exam Life Insurance Review
Quick Summary: Sagicor is a rock solid no exam option to look at. Pricing is among the cheapest available. They have one of the higher coverage limits for non-med policies and extremely fast approvals (usually same day).
Will offer up to the Preferred health class which is not common for no exam policies. On the downside, underwriting can be a strict on certain medical conditions so consult with your agent.
Skip the Exam
See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
About the Company
The Sagicor Financial Corporation have been in the insurance business since 1840. They offer a range of insurance and annuity products including term, whole, and universal life.
A.M. Best is widely regarded as the most important rating agency for insurance carriers. They give Sagicor Life Insurance a rating of A- for financial strength.
With close to $6 billion in assets, the combination of experience and financial strength make a Sagicor a solid bet to fulfill their obligations (pay their claims) and be around well into the future.
About the Policy
Product Name
Sage Term
Coverage
$50,000 to $1,000,000
ISSUE AGE
18 to 65
TERM LENGTH
10, 15, 20 years
Product Name
Sage Term
COVERAGE
$50,000 to $500,000
ISSUE AGE
18 to 65
TeRM LENGTH
15, 20, 30 years
Underwriting Process
Underwriters use their new fully automated system, Accelewriting. This removes any need for a telephone interview, medical records review, or a paramedical exam. Within minutes, the 100% digital process will review electronic databases such as:
- Motor Vehicle Report
- Prescription Database
- Medical Information Bureau
The Medical Information Bureau (MIB) is a database that stores information about previous insurance applications and approvals/denials.
For example: If you were denied last year at another insurance company because of high blood pressure, this will be shared and seen by the company taking your new application.
Medical Questionnaire
The medical questionnaire is a series of 8 questions that you must pass by answering "No" to each one. A "Yes" answer will disqualify you for non-med coverage with Sagicor.
These questions are similiar to:
- Have you ever been diagnosed with HIV?
- Are you currently receiving health care at home or require assistance with any activities of daily living such as bathing, dressing, feeding etc.
- Are you currently in a correctional facility or prison?
- Has your driver’s license been suspended or revoked, charged with a DUI or had more than 2 moving violations in the last 24 months?
- In the past 24 months have you been diagnosed or advised to have treatment for cancer, heart attack, stroke, TIA, drug or alcohol abuse?
- Have you been advised to have diagnostic tests, surgery, or medical procedures in the last 12 months that haven’t been completed?
- Have you been diagnosed with Alzheimer’s or Dementia, Cirrhosis, Emphysema or COPD?
- In the past 24 months have you been diagnosed or advised to have treatment for cancer, heart attack, stroke, TIA, drug or alcohol abuse?
In addition to these "knockout" questions, expect the normal questions about your health and lifestyle including:
- Age
- Gender
- Height and weight
- Smoking and tobacco history
- Drug and alcohol use/history
- Occupation
- Income level
- Dangerous hobbies
Decision Time
- Age
- Gender
- Height and weight
- Smoking and tobacco history
- Drug and alcohol use/history
- Occupation
- Income level
- Dangerous hobbies
Decision Time
Sagicor is one of the fastest in approvals and decision. This is because of the 100% digital underwriting known as "Accelewriting" We have seen clients get approved in under 5 minutes very regularly. Most will be same day. Almost all done within a couple days.
Pros
Sagicor offers fully digital underwriting, no telephone interviews or requests for review of medical records. Because of this, their approvals often come within minutes.
Offers multiple health classes and as high as Preferred, which is rare for no exam policies. Those in good health can save a lot on their rates vs companies that only go up to Standard.
$1,000,000 maximum death benefit is among the highest in the industry.
Cons
30-year term length not available like some other non-med products.
Certain medical conditions can mean automatic decline.
Extras and Options
Sagicor includes an Accelerated Benefit Insurance Rider at no extra cost in the base policy. This can be used to take benefits while still living in order to cover medical expenses provided certain conditions are met.
For additional cost added to your premium, they offer a few more options to customize your Sage Term policy with added benefits:
- Children's Term Rider
- Accidental Death Benefit Rider
- Waiver of Premium Rider
Includes the right to convert to a permanent insurance policy (including their NLUL) before policy anniversary date following the insured's 70th birthday. No proof of insurability is required to exercise this option. This is nice to have since we never know what our health may look like down the road.
Cost
Sage Term premiums are competitively priced. It's hard to find a non-med policy much cheaper.
Sample No Exam Rates - Sagicor Sage Term Life
40 year old male at Preferred health class - pricing listed is per month
Death Benefit | 10 Year | 15 Year | 20 Year |
|---|---|---|---|
$100,000 | $13 | $14 | $15 |
$300,000 | $27 | $28 | $34 |
$500,000 | $41 | $42 | $52 |
35 year old female at Preferred health class - pricing listed is per month
Death Benefit | 10 Year | 15 Year | 20 Year |
|---|---|---|---|
$100,000 | $9 | $10 | $11 |
$300,000 | $14 | $16 | $18 |
$500,000 | $20 | $23 | $26 |
Use our quoting tool to see the rate you'd pay for a Sagicor no exam policy.
How to Find the Best No Exam Policy
If you are considering life insurance without the exam, Sagicor is a good option.
But is it the best option for you?
With the increase in competition and advancements in underwriting, there are many more companies offering no exam insurance now. Yes, of course you want to pay as little as possible. But there could be hidden costs or benefits where the listed premium price doesn't tell the entire story.
You may have come to this page because you heard good things from a friend about Sagicor. But are you EXACTLY like your friend in terms of health history, age, height, etc? I didn't think so.
You need to weigh all the options and evaluate the strength and weaknesses of multiple companies in order to make the correct choice for you in protecting your loved ones. If after comparing companies, Sagicor still ends up the best, great, you'll know you made the right choice. If it turns out there was another company who is a better fit that you weren't aware of, that is great too.
The best way to do this is to work with an independent agency that is:
No Pressure. No Cost.
You're in luck:) We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.
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.
