Compare Million Dollar Life Insurance Policy Rates [Top 5 Companies]

The Life Insurance Medical Exam

Financial requirements aren’t the only standards that need to be met. To qualify for a million dollar life insurance policy, you will need to take a medical exam, or rather, a paramedical exam. There are many pros and cons of life insurance medical exams. Price, speed and convenience are at the top of the list.

In this type of exam, a paramedic comes to you to record your height and weight, take blood and urine samples, as well as check your blood pressure. Additionally, all applicants 40 and over need a resting EKG (a heart test). Life insurance companies will usually want copies of your medical records as well.

There are life insurance policies that do not require a medical exam. These policies are often referred to as Non Med or No Medical exam life insurance.

Unfortunately, most companies cap the maximum benefit amount at around $500,000 – $750,000.

However, there’s great news!

There have been a few companies recently that have offered a million dollar non medical exam option. Principal Life offers no exam life insurance 1 million dollar policies. This is 50% more coverage than most of the no medical exam life insurance companies on the market.

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