Most people think applying for life insurance is a hassle, but it doesn't have to be. Some life insurance policies can be issued on a simplified basis. This greatly reduces the stress and anxiety related to the application and approval process.
Unlike a fully underwitten policy which often requires a lengthy application, disclosure of any medical conditions going back at least 10 years, requests for medical records, and even a mini medical exam, a simplified issue life insurance policy requires the applicant to answer simple "yes" or "no" questions. These are sometimes referred to as knock out questions because a "yes" answer may disqualify the applicant. Nevertheless, policies issued on a simplified basis can be a godsend for people who may have less than perfect health, get white coat blood pressure, or are afraid of needles. Term, whole, and universal life policies can all be obtained this way.
What's the catch? Typically, if you consider your health to be above average and you don't take maintainence medications, you may be able to save money by applying for a fully underwritten policy (though in many cases you'll still need the mini medical exam). Also, not every company will issue coverage on a simplified issue basis. Be sure to ask your agent about the credit rating for any company you plan to apply to. Financial stability is important and credit ratings can vary widely from insurance company to insurance company.
If you don't have an agent, but would like to request quotes, you can contact me via my web site www.davidiobst.com. I am insurance licensed in Delaware, Maryland, and Pennsylvania. Quotes can be emailed and most applications can be completed electronically.