When an exam may be requested
Carrier requirements vary by applicant, age, coverage amount, health history and underwriting rules. Some applicants may qualify for an accelerated process; others may need an exam, lab work, medical records or additional review.
No exam does not mean no underwriting
A no-exam application can still involve health questions, prescription history, records and carrier review. It is not a promise of approval or immediate coverage.
How to stay on schedule
Apply early, answer carrier requests promptly and share your lender’s target closing date. Remember that insurer acknowledgement of collateral assignment can add a separate documentation stage after underwriting.
Learn more about life insurance timing for an SBA loan.