Lite insurance policies written without a physical examination are called

Preferred policies refer to insurance products that are offered to applicants who meet certain health criteria, usually involving favorable health histories and lifestyles. These policies often require comprehensive medical evaluations to determine eligibility and may not be available to those seeking lite coverage without a physical examination.

Standard insurance policies are typically offered to applicants who do not qualify for preferred rates due to some health concerns but still meet the basic underwriting criteria. Like preferred policies, standard coverage often requires more detailed health assessments rather than allowing coverage without a physical examination.

Substandard policies are issued to individuals who present higher health risks and therefore pay higher premiums. These policies require thorough medical evaluations and are not designed for those looking for lite insurance options without a physical examination.