Simplified Issue Life Insurance
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Simplified issue life insurance is life insurance which requires no medical exam. However, in most instances, medical underwriting is still performed, based entirely on medical information the applicant provides on his or her application.
The insurer assumes a greater risk by denying itself a proper medical examination, so simplified issue life insurance is almost certain to cost more than an ordinary term life insurance policy. (What is term life insurance?)
In absence of a medical exam or attending physician’s statement (APS) an applicant might be inclined to dismiss certain health concerns as irrelevant and neglect to include them in his or her application. However, there is a danger in omission: after a policy is issued, there follows a "contestability period" during which the insurer may yet investigate an individual’s medical records to verify the integrity of his or her application. A life insurance contract may be voided if relevant information was omitted, intentionally or otherwise.
To purchase simplified issue life insurance or to request further information, call 1-800-823-4852 and speak with a life insurance advisor now.
