No Medical Exam: Life Insurance for Plastic Surgeons

As important as life insurance is for personal and family finance plans, over 40% of Americans do not have any form of life insurance coverage. One of the reasons for this is the prevalence of different pre-existing medical conditions among many American adults, any of which make them uninsurable in the individual insurance market.

For others, however, life insurance medical examination procedures that involve blood and urine test are just too complicated for them. As a plastic surgeon, you are in one of the most demanding medical fields, and as such, for the sake of your future and dependent family members, you can’t afford to neglect having life insurance coverage.

Therefore, if you want a life insurance policy that is entirely simplified, timely, and devoid of rigors, no medical exam life insurance for plastic surgeons is the answer.

No Medical Exam: Life Insurance for Plastic Surgeons
Why Do Life Insurance Companies Have Medical Exams

Why Do Life Insurance Companies Have Medical Exams

Insurance companies carry out a medical exam to know an applicant’s mortality and morbidity rate, which will be used to determine if the applicant is insurable, and set a premium rate for each applicant according to their medical status. The exam is carried out in order to determine the following:

  • Weight and Obesity
  • Cholesterol Level
  • Liver function
  • Drug Use
  • Sugar and glucose level
  • AID & HIV status
  • Hepatitis

These and many other health conditions will show if you are suffering from any life-threatening illness, or you have a high chance of having any in the future. Through that, they will get to understand if you are at no risk, minimal risk, or high risk. Being a high-risk applicant could mean two things – an outright denial of coverage, or coverage offered at a higher price.

How We Can Provide Coverage Without a Medical Exam

Over the past few years, there has been a rise in the cases of critical illnesses in the United States. According to Science Daily, 48% of American adults have some form of cardiovascular disease. This and other life-threatening ailments (known as pre-existing medical conditions in the insurance world) disqualify many people who desire life insurance coverage from getting it.

A Kaiser Family Foundation study found that around 27% of American adults have various medical conditions that may leave them uninsurable in an individual insurance market. This is where Gold Coast Life Insurance comes in.

To ensure people’s health conditions don’t stand as obstacles to their desire of having adequate protection for themselves and their families, we work with accredited and reliable life insurance carriers to provide our clients with a trouble-free, and an uncomplicated alternative called no medical exam life insurance.

Unlike traditional life insurance, you are not required to undergo a medical examination when buying a no medical exam life insurance policy; and it is also faster and easier to get. Some of our no medical exam life insurance products available to plastic surgeons include guaranteed issue life insurance and simplified issue life insurance.

How We Can Provide Coverage Without a Medical Exam

How Guaranteed Life Insurance Works for Surgeons

A guaranteed issue life insurance, just as the name implies, means that, regardless of your medical condition, you can rest assured that you will be covered so long you can afford the premium payment for the policy. No medical exam will be performed when buying guaranteed issue life insurance.

A guaranteed issue life insurance is usually made available to a specific age bracket. You will have to fall within the age demographic to be qualified for it depending on your state and the insurance company you are buying from. It may be sold as graded benefits or matured endowment life insurance product.

Graded Benefits

The use of graded benefits is one of the preventive measures used by insurance companies to reduce their liability risk. Some applicants who are suffering from a terminal disease, and know they have a very short time to live, may want to outsmart insurance carriers by buying a guaranteed issue life just for their beneficiaries to get the lump sum of the death benefit.

To avoid this, most companies include graded benefits in their guaranteed issue life policy, which means an insured’s beneficiaries will not be eligible for a death benefit if he or she passes away fewer than two years after buying the policy. Instead of the lump sum death benefit, the insurer will only pay back the total amount of the premium you have so far paid for the policy to the beneficiaries.

Matured Endowment

A matured endowment policy is commonly bought for a future project or to achieve a long-term goal. The procedure works like a savings account, where you continually pay an agreed sum of money for a certain number of years known as the maturity period.

Depending on your purpose of buying it, you may set the maturity years to be 5, 10, 15, or 20 years. Upon the maturity, your insurer will pay you a lump sum of both the death benefits and maturity benefits of your policy. If you were to pass away before the policy matures, your beneficiaries would get the death benefits of your policy.

How Simplified Issue Life Insurance Works for Surgeons

Simplified issue life is another no medical life insurance policy available to plastic surgeons. Just like guaranteed issue, it does not require urine, blood, or other medical examination procedures. The difference, however, is that it may require answering some health-related questions.

Also, it does not offer guaranteed acceptance, meaning your application may be denied. Some of the questions you are likely to be asked include if you have been hospitalized in the recent past, if you use drugs, if you have been diagnosed with any serious ailment, and if you have been denied life insurance coverage in the past.

How Simplified Issue Life Insurance Works for Surgeons
Some Facts About No Medical Exam Life Insurance

Some Facts About No Medical Exam Life Insurance

The following are some things you need to know about no medical life insurance

  • It may be sold as a term life insurance or permanent life insurance policy
  • You may complete the process within a few minutes
  • If you smoke, you may need to pay more than nonsmokers
  • It is usually more expensive than most of the traditional life insurance policies
  • You will need the help of a licensed insurance broker or financial advisor to get the best no medical life insurance policy.

How Gold Coast Life Insurance Can Help

Regardless of your health status, you deserve to get the best coverage and still save enough money on your policy. At Gold Coast Life Insurance, we can offer affordable and flexible coverage that will adequately protect you and your family members.

Our no medical life insurance policies are perfect options for high-risk plastic applicants with any forms of pre-existing conditions. As a plastic surgeon, you can become a no medical life insurance policyholder today simply by filling out this free quote.

Term Life Insurance

Affordable Life Insurance

Pre-Existing Conditions

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