The medical exam requirement for many life insurance policies can be an insurmountable barrier for many seeking affordable life insurance. Life insurance companies often deny coverage to people with certain risk factors or preexisting conditions.
According to LIMRA, 68% of respondents cited the ability to avoid a medical exam as an appealing factor when considering life insurance.
52% of respondents would be more likely to purchase life insurance if they could avoid taking a medical exam for coverage. 42% of uninsured respondents are more likely to use simplified underwriting to purchase no medical exam life insurance. Of those surveyed, 58% of women said they liked simplified underwriting to avoid the medical exam compared to 53% of men.