Without Evidence of Insurability

Without Evidence of Insurability (WEI) is a type of life insurance policy that does not require the applicant to provide any medical information. This can be a good option for people who are in poor health or who have pre-existing conditions, as it can make it easier to get coverage. However, WEI policies typically have higher premiums than policies that require evidence of insurability.

There are two main types of WEI policies: guaranteed issue policies and simplified issue policies. Guaranteed issue policies are available to anyone, regardless of their health status. However, the premiums for these policies are typically very high. Simplified issue policies are available to people who are in good health, but they may require the applicant to answer a few health questions. The premiums for these policies are typically lower than the premiums for guaranteed issue policies, but they are still higher than the premiums for policies that require evidence of insurability.

Before you purchase a WEI policy, it is important to compare the premiums of different policies and to make sure that you understand the terms of the policy. You should also consider whether you need a policy that provides a death benefit only, or if you also need a policy that provides living benefits, such as a long-term care rider.

If you are in good health and you are willing to provide medical information, you may be able to get a policy with lower premiums by applying for a policy that requires evidence of insurability. However, if you are in poor health or you have pre-existing conditions, a WEI policy may be a good option for you.