Traditional Life insurance policies that do not require a medical exam are typically more expensive, and the coverage amounts might not be as high as the medically underwritten policies.
Some people who want life insurance coverage but do not want to take a medical exam can find a solution with an Accidental Death Insurance or accidental death and dismemberment (AD&D) policy. These types of policies aren't life insurance policies. They are a different type of product that pays benefits if you die as the result of a covered accident. They also pay benefits if you become seriously injured in a covered accident. For example, if you lost a limb or your eyesight, or became paralyzed.
Common types of accidents that result in death or serious injuries are traffic accidents, poisonings, falls, fires and choking.
While an Accidental Death Insurance policy is not life insurance, it does offer a level of protection and peace of mind. The coverage amounts tend to be less than term life insurance or permanent life insurance, however.
In addition to not requiring a medical exam, Accidental Death Insurance through AIG Direct is a guaranteed issue policy... it guarantees coverage if you are between 18 and 80, even if you have health issues or a high-risk occupation. There is no waiting period; you can receive coverage today.
Curious if this type of coverage is right for you? Why not discuss it with one of our licensed professionals? They will ask you some questions, explain the options and benefits and provide other helpful insights.