Fill out our quoter to compare rates among the top no medical exam mortgage protection companies.
Some mortgage protection policies come with a medical exam and some do not.
While you can potentially get lower prices with medical exam policies, many people choose not to go that route because it takes many weeks to get approved and is a hassle.
This article will show you mortgage protection policies with no medical exam if that is the route you want to go.
We also offer medical exam policies if you are very healthy and are curious about lower rates.
Table Of Contents
Medical Exam Vs. No Medical Exam
There are many types of mortgage protection products out there, and not all are created equal.
Traditionally, all policies required a medical exam because we did not have the technology to calculate risk without it.
However, in recent times many companies offer no medical exam policies in a way to add more value to you the consumer and speed up the process.
Here are the pros and cons to each.
|Non-Medical Exam||Medical Exam|
|– Generally Higher Rates||– Lower Rates For Healthy People|
|– Quick Approval||– Approval Takes Weeks|
|– Quick Application Process||– Application Takes Time|
|– Immediate Coverage||– No Coverage While You Wait|
|– Rates Are Known Ahead Of Time||– Rates Can Change Depending On Medical Exam|
Medical exam policies can be a pain, especially if you have certain health conditions.
With that being said, both are a good option, it just depends on what you value most.
No Medical Exam Mortgage Protection Insurance Prices
While no medical exam prices are slightly higher, it is very marginal for younger people.
Here are some sample rates for mortgage protection policies with no medical exam.
Note: These monthly rates are for non-smoking males with a 10 yr term, with coverage up to age 95. You can purchase coverage up to age 75. If you are older you must go with a medical exam policy.
|Coverage||40 yr old||50 yr old||60 yr old||70 yr old|
As you can see, rates are much higher the longer you wait before buying a policy. It’s important to get it young if possible or go with a medical exam policy to save money.
How To Apply For Mortgage Protection With No Medical Exam
We make it quick and easy to apply for mortgage protection insurance at Seniors Mutual.
We represent all of the top mortgage protection insurance companies so we can find the best price and product for you.
Once we find the best company for you the application process only takes 10 minutes and sometimes you are approved instantly and the coverage goes in force.
For no medical exam mortgage protection policies, approvals are usually given within 24-48 hours if not approved immediately.
If you are interested in a mortgage protection insurance policy or want more information, please reach out by filling out our quoter, giving us a call, or leaving a comment below.
We look forward to speaking with you!