- 10,806
That is no-exam. Not non-med.
Assurity
- Thread starter rousemark
- Start date
That is no-exam. Not non-med.
- Thread starter
- #22
I thought Non Med meant no exam???
- 6,024
- 6,024
It does. Just a different play on words.
I added a $400K term last year with Ameritas and they issued the policy non med so fast it made my head spin. They offered up to $1M with no additional uw. I'm sure I'll regret not taking the additional coverage, but I know that I'll convert this to a perm policy in a year or two.
- 10,806
No it doesnt. Not traditionally.
Non-Med means no medical questions are asked.
No Exam means no medical examination is performed.
Non-Med is more common in DI than LI. But obviously you see Non-Med on the group side in the life industry.
At least thats always been my understanding of it. In the DI world and Group Life Insurance world that is the terminology 100%.
Non-Med means no medical questions are asked.
No Exam means no medical examination is performed.
Non-Med is more common in DI than LI. But obviously you see Non-Med on the group side in the life industry.
At least thats always been my understanding of it. In the DI world and Group Life Insurance world that is the terminology 100%.
- Thread starter
- #27
If no health questions are asked, I tend to think of that as GI (guaranteed issues) instead of non med.
- 30,538
You are correct. The only way you can buy an individual life policy with no health questions, is to buy a GI policy....like the $9.95 Plan.
- 10,806
You are correct. The only way you can buy an individual life policy with no health questions, is to buy a GI policy....like the $9.95 Plan.
And another name for a non-med life policy on the individual market would be a GI policy.
Part B of an individual life or disability application is also called the Medical History or Medical Questionnaire. A Non-Med Policy is one that does not require Part B of the app.
Non-Med is a very common and long standing term in the Group Life and DI world... and it has nothing to do with an exam.
I have seen it used by newer agents to describe No Exam Life Insurance... but its being used incorrectly when they do.
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