Top Secret: YES You Can Buy Life Insurance In Just 15 Minutes!

You can buy life insurance from Foresters from 18 – 80 years of age and may choose a 10, 15, 20, 25 or 30-year term. 

If you want protection without a medical exam – then you’ll have to be satisfied with $400K in coverage. That’s where this company maxes out for simplified underwriting. 

To find out more about you, Foresters performs Script and MIB checks to see what they can ascertain about your health behind the scenes. 

Don’t be fooled though!  you NEVER avoid the prying eyes of underwriters. They use the information from these searches along with pointed questions about your medical history to determine your eligibility.  The following conditions and situations will crop up when you are questioned: 

The following features will be included with your basic coverage at no additional premium:

• Common Carrier Accidental Death Rider
• Family Health Benefit Rider
• Accelerated Death Benefit Rider

Foresters also offers an innovative Charity Benefit provision! 

If you’re looking for an A rated insurer that delivers on a no exam policy this may be a good choice for you. 

Donors who wish to leverage their cash donations to charity can use life insurance as an excellent means of accomplishing their goal. By either gifting a policy outright or naming a charity as beneficiary, they can provide the charity of their choice with a large sum of money that can provide a lasting legacy for a cause that they believe in. Using Life Insurance To Make Charitable Donations, Investopedia 

A 40-year-old male who is 5’10” and 180 lbs, who is has a standard nontobacco rating can obtain $100K in coverage for 20 years for $29.76 per month. 

While Foresters doesn’t offer the cheapest rates on the market, they are one of the top no exam life insurance carriers and I’ve seen a lot of good reviews of their products. 

In order to qualify for this coverage, an agent will go through two pages of information with you.  This can be done over the phone. Incredibly they even have technology that allows you to sign your application vocally before you hang up!  

The coolest part? Although you have to provide payment details immediately, they don’t debit you until they process all the paperwork. This process takes about 2 weeks which means you get a free ride. Hey, who doesn’t LOVE two weeks of protection without the cost? 

BEWARE! Although this is a simplified process you CAN be turned down.

NOTE: This is true for all the carriers. 

In a nutshell, you must answer ‘NO’ to the following 7 simple medical questions otherwise you’ll be declined. 

1. Has applicant ever applied for and been rejected for life insurance?

2. Has applicant been hospitalized in the past 90 days?

3. Has applicant been diagnosed or treated by a member of the medical profession or tested positive for Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), or AIDS Related Complex (ARC)?

In the past has the applicant has been hospitalized for:

4. Angina, heart attack, stroke, heart bypass surgery, angioplasty, coronary artery stenting, or coronary artery disease?

5. Any form of cancer to include leukemia or Hodgkin’s Disease, (excluding non-invasive, non-melanoma skin cancer)

6. Alcoholism or drug or alcohol abuse, cirrhosis of the liver, hepatitis, or any other diseases of the liver.

7. Chronic obstructive pulmonary disease (COPD), emphysema, or any other chronic respiratory disorder, excluding asthma.

There are NO additional checks, no medical record reviews or electronic database checks, unlike Sagicor and Foresters. 

Please remember “fudging” your life insurance responses is FRAUD! Even if you think you got away with something the insurance company will indeed catch up with you. Which ultimately means your beneficiaries will be left out in the cold. 

A 40-year-old male who is 5’10” and 180 lbs, who is has a standard nontobacco rating can obtain $100K in coverage for 20 years for $80.25 per month. 

BOOM. Well, 5 Star is costly. They do however provide protection up to age 100. In my opinion, you can do better. Although they do have a great reputation. 

1. Do you currently receive health care at home? Do you require assistance with activities of daily living?
2. Are you in a Hospital, Psychiatric, Extended or Assisted Care or a Nursing facility?
3. Are you in Prison or a Correctional facility due to a misdemeanor or felony conviction?
4. Has testing for HIV virus come back positive or do you have AIDS or ARC? 
5. Do you have Alzheimer’s or Dementia, Cirrhosis, Emphysema or COPD
6. In the past 12 months have you been advised by a physician to be hospitalized or to have Diagnostic Tests, Surgery, or any medical procedure that has not yet been completed or results are not yet available (except tests related to HIV/AIDS)?
7. In the past 24 months have you been diagnosed as having or advised by a physician to have treatment for Cancer (other than Basal Cell Carcinoma), Heart Attack, Stroke or TIA (Transient Ischemic Attack), Alcohol or Drug Abuse?
8. Over the past 24 months has your Driver’s License been revoked or suspended, or been convicted of 2 or more moving violations, or been convicted of a violation for driving while intoxicated or under the influence, or for driving while ability impaired because of the use of alcohol and/or drugs?

They also ask you about your lifestyle.  It’s pretty nice to be able to get a policy from an AM Best A-  rated company for so much coverage at lightning speed. But this policy may be tougher to get. 

A 40-year-old male who is 5’10” and 180 lbs, who is has a standard nontobacco rating can obtain $100K in coverage for 20 years for $18.40 per month. 

NICE. So as you can see their rates are cheaper too. I like this! 

Questions include:

1. Do you have AIDS, ARC or have you been tested positive for HIV? 
2. Are you waiting for a diagnosis or have you been advised to have a surgical operation, diagnostic test or medical or mental evaluation that has not yet been completed?
3. Have you requested or received any Worker’s Compensation or Social Security disability benefits?
4. In the past 2 years, have you been hospitalized or evaluated in an emergency room or immediate care center for a chronic illness requiring ongoing treatment or care by a physician; OR have you participated in any hazardous activities or extreme sports?
5. Do you currently take more than 2 prescription medications for pain; or consume, on average, more than 3 alcoholic beverages per day?
6. Have you, within the past 5 years, been convicted of or pled guilty or no contest to a felony, misdemeanor, reckless driving, DUI or DWI; or been incarcerated or served in a probation or parole program or do you have criminal charges pending?
7. In the past 10 years, have you received any treatment, medical advice or consultation for; been diagnosed with or required follow-up for any of the following:

Insurance underwriting is based on risk assumption, and for this reason applicants living with mental illnesses often have trouble finding coverage. Three significant mental illnesses are particularly problematic for applicants, with people suffering from major depression, bipolar disorder and paranoid schizophrenia face significant obstacles in their efforts to purchase life insurance. DOES MENTAL ILLNESS AFFECT YOUR ABILITY TO GET LIFE INSURANCE?, Dworkin Associates 

A 40-year-old male who is 5’10” and 180 lbs, who is has a standard nontobacco rating can obtain $100K in coverage for 20 years for $35.32 per month. 

Wellll – they certainly are on the high side when it comes to premiums. 

On the other hand, if you meet the above situations I mentioned – it’s far better to be covered than not, so I say go for it!

I will, however, add a caveat here – you’re not necessarily the best judge of your physical health when it comes to underwriting. You should give Huntley Wealth a call – because you’d be surprised by the situations we’ve gotten coverage for. 

Even IF you are going to move ahead with simplified life insurance, you should know that not all carriers are created equally. As you can see there is a HUGE difference between premiums for Sagicor which will cost our example $4,416.00 over his 20-year term and had he opted for 5 Star it will cost him $19,260! 

That’s a staggering difference of $14,844.00 over a 20-year term. If that’s not a reason to contact us, I don’t know what is. 

Why not go through all the offerings with one of our knowledgeable agents BEFORE you pull the trigger.