Sagicor No Medical Exam Term Life Insurance Review

Sagicor No Medical Exam Term Life Insurance Review 2017-08-25T00:46:59+00:00

Affordable No Medical Exam Term Life Insurance with Sagicor Life Insurance Company

Sagicor No Medical Exam Term Life Insurance

If you’re interested in a no medical exam term life insurance and have been doing some research online, you may have come across the life insurance company Sagicor.

Sagicor offers a wide selection of life insurance options such as term life insurance, guaranteed universal life insurance as well as whole life insurance but are very well known for their niche in no medical exam term life insurance coverage.

Sagicor Financial has been active in the insurance industry since 1840 making them one of the oldest insurance groups in America. Sagicor currently operates in over 21 countries with the United States, Central American and the Caribbean being their largest source of business. With a total of 5.5 billion in assets, Sagicor makes for a secure choice when considering life insurance coverage.

Mailing Address:
Sagicor Life Insurance Company
4343 N. Scottsdale Rd. Suite 300
Scottsdale, AZ 85251

FINANCIAL STRENGTH: A.M. Best (A-) Excellent Rating

 

SAGICOR LIFE INSURANCE

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Sagicor No Medical Exam Term Life Insurance – Sage Term

Sage Term is the name of Sagicor’s competitively priced term life insurance coverage. Sage Term offers you the option to purchase term life insurance coverage in guaranteed fixed premium lengths of 10, 15 or 20 years.  If you are between the ages of 18 to 65 you may elect to apply for no medical exam life insurance coverage from $50,000 up to $500,000.

Sage Term is available in health classifications of Preferred, Standard as well as rated. Tobacco users can also qualify for affordable rates with a Preferred Tobacco, Standard Tobacco or Rated tobacco health classification.

Sage Term is renewable to age 95 but has a free guaranteed conversion feature that gives you the option to take your term policy and convert it to permanent life insurance coverage without any evidence of insurability. In order to exercise the guaranteed conversion feature you must do so prior to your 70th birthday. The guaranteed conversion privilege can be a great feature to use if you are unable to re-qualify for life insurance coverage due to a change in your health.

  

Up to $500,000 in Term Life Insurance Coverage without a Medical Exam

Sagicor really has the upper hand when it comes to offering higher amounts of term life insurance coverage without the need for a medical exam. Most no medical exam term life insurance companies have limitations on the amount you can apply for which generally range from $100,000 to $250,000.

Sagicor however blows this amount out of the water with a maximum amount of no medical exam coverage up to $500,000. Coverage amounts higher than $500,000 will require full medical exam underwriting.  

 

Sage Term Available Policy Riders

Sage Term offers you the option to purchase some fairly common policy riders such as their Children’s Term Rider, Accidental Death Benefit Rider and Waiver of Premium Rider. We would also like to point out that their free policy rider, called the Accelerated Benefit Insurance Rider, can be a financial life saver if you ever suffer from a terminal illness or require long term care.

Accelerated Benefit Insurance Rider – This is a free rider that comes with all Sage Term life insurance policies that can pay for medical cost or nursing home costs, by allowing you to accelerate a portion of your death benefit. In order to qualify for accelerating your death benefit for cash, you must be confined to a nursing home or be diagnosed by a licensed physician with a terminal illness and a life expectancy of less than 12 months. The maximum amount that will be accelerated is lesser of 50% of the death benefit, no greater than $300,000.

 

15 Minute No Medical Exam Underwriting Approval

Need life insurance coverage fast? Sagicor no medical exam term life insurance coverage can be obtained in as little as 15 minutes! If you have an outstanding medical history and clean driving records you could be approved for life insurance coverage in as little as 15 minutes.

When you apply for Sagicor no medical exam term life insurance coverage you will be required to answer questions pertaining to your health history. Once your application has been received by an underwriter the following will be reviewed:

  • Medical Information Bureau (MIB) – A database containing information on your medical history
  • Prescription Check (Rx) – A database containing a history of prescribed prescriptions  
  • Motor Vehicle Report (MVR) – A database containing information on your driving history

IMPORTANT: Some medical conditions will be considered by Sagicor but may take longer for underwriting.

 

How to Apply for Sagicor No Medical Exam Term Life Insurance

Sagicor no medical exam term life insurance has two simple ways to apply for coverage by electing to complete either a paper application or an electronic application.

Paper Application – The paper application will require you to complete and physically sign the application. After we have submitted your paper application to Sagicor Life Insurance, you and a Top Quote Life Insurance agent will be required to complete a 15 minute telephone underwriting interview. Upon completion of the telephone interview a possible underwriting decision could be made on the spot.

Electronic Application (Recommended Method) – The electronic application method is the quickest method for approval. Allow yourself at least 15 minutes of free time as you and a Top Quote Life Insurance agent will be completing the life insurance application over the phone. Once we have completed all questions on the application, you will receive a copy via email that will require your electronic signature confirming all questions have been answered correctly. Once confirmed and e-signed, we will electronically submit the application to Sagicor Life Insurance and should provide an underwriting decision within minutes of submission. The e-app does not require a telephone interview.

 

Pros & Cons of Sagicor No Medical Exam Term Life Insurance (Sage Term)

Sagicor no medical exam term life insurance, Sage Term is offered and highly recommended by Top Quote Life Insurance. No medical exam life insurance however is not the ideal choice for everyone and does have pro’s and con’s that should be considered.

PROS:

  • Affordably priced non-medical exam term life insurance coverage
  • Offers a preferred underwriting class when other are generally standard only
  • Can purchase up to $500,000 without an exam, which is the most amount of coverage offered by any no medical exam life insurance company
  • Can be approved in as little as 15 minutes after the application has been submitted

CONS:

  • If you’re in excellent health a traditional term life insurance policy with an exam could be cheaper
  • Sagicor is a little tougher on underwriting some medical conditions that other life insurance companies would accept.

 

How to get a Sagicor No Medical Exam Term Life Insurance Quote

For an accurate Sagicor no medical exam term life insurance quote please contact us toll free at (888) 777-7574. For an instant quote please visit our term life insurance quotes page which will allow you to instantly compare rates. If using the online instant quote form, please be sure to select the health classification of either Preferred or Standard along with appropriate tobacco use.

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Sagicor No Medical Exam Term Life Insurance Review by Jeffrey Manola Top Quote Life Insurance