What are the things I should know about life insurance no physical exam?

Eric

Boise ID

If you are one of those who is planning to get an insurance policy then you might think that all the processes that you have to go through just to get a policy is too much of a bother. There is no denying that most insurance companies require you to undergo a medical exam in order to get your policy approved. Such requirement can be a burden to those individuals who are always busy at work and barely have time to have a medical exam. However, you need not lose hope because there are some insurance companies that offer life insurance no physical exam policy, which simply means that you don’t have to go through the medical examination to get cover.

It is easy to apply for life insurance no physical exam policy. You can directly access through hundreds of insurance companies online. But you need to consider a few things before buying this policy. First and foremost keep in mind that since this doesn’t require you to undergo medical exams; you will be answering several health questions online. These questions will be used to evaluate your health status and will help insurers decide whether to approve your policy or not. So always make sure that you answer the questions truthfully.

This policy also offers the same kind of benefits with that of a regular life insurance. There is a catch though; the costs or premiums for no health exam insurance policy can be a bit expensive. It is in this reason that individuals with serious medical condition like diabetes, cardiovascular diseases, cancer and other serious forms of medical conditions are highly discouraged from acquiring this type of insurance policy, although it will also depend on the insurer’s conditions, policies and requirements. So if you are after a cheap premium, then you might want to get an insurance policy that requires you to have a medical exam.

When choosing a life insurance no physical exam, consider the following: cost of such coverage, the financial stability of the company and lastly the guarantee. It is of utmost importance that you spend enough time thinking about the insurance policy you are going to purchase, in this way you will save yourself from buying the wrong policy in the end.

What are the advantages and disadvantages of life insurance no exam policy?

Elizabeth

Springfield IL

Life insurance gives you the option to prepare for the worst scenario as early as today. Nobody knows what tomorrow may bring and life insurance protects your loved ones that you may leave behind in the event of your untimely death.

Insurers have their own way of ascertaining their applicants for life insurance coverage. Your health condition is among those factors that affects your eligibility for such coverage. However, not everyone is blessed with perfect health which prevents them from ensuring their family to a sustainable life after an inevitable death. It is in this reason, that most insurance companies have given birth to life insurance no exam policy. Life insurances that don’t require medical exams would be a great option to those who are suffering from a variety of ailments.

With life insurance no exam policy, you are still guaranteed of coverage even when they are currently suffering from an illness since they won’t have to go through a medical examination to determine if they’ll qualify for it. However, it must be remembered that you are still required to honestly state your medical condition. Any concealment would result to a cancellation of your policy thereby endangers your family of not receiving any death benefit.

Life insurance no exam policies are available in term packages only. This means that such coverage is good for a specific period of time. Death benefit is given to the beneficiaries only when the policy holder dies with in the term. If the insured lives beyond the specified term, no death benefit is given out. Moreover, not all applicants get to qualify because of the high risk nature of this type of policy. It is only granted to those whose forms pass through thorough scrutiny made by the insurance carrier.

Im looking to get term life insurance without medical exam. Is this a good choice? What are the advantages and disadvantages of this type of life insurance?

Sam

Houston Texas

The term life insurance is the simplest type of insurance and yes you have the option to choose a term life insurance that does not require medical exam. Here are some of the advantages and disadvantages of getting term life insurance without medical exam:

DISADVANTAGE

1. The benefit amount of this type of policy is limited to a minimum amount. If you decide to get more coverage on your policy, it is usually high.

ADVANTAGE

This is a good option for those who have been disqualified for other life insurance policy plan especially if you are older with health problems. If you are also looking for additional insurance to supplement a plan you already have, this is a good option as well.

WHAT YOU CAN DO

1. Find a life insurance policy that offer group plans because they usually offer term life insurance without medical exam.

2. Life insurance companies vary so it is good to shop around.

3. Be honest on your application even if no medical exam is required. These insurance providers has their way of tracking your medical history.

4. If you are healthy, there is no reason to apply for term life insurance without medical exam. It will only include basic physical, urine sample, blood work, x-ray and EKG. You can improve the result of you exam by getting a good night’s rest before the exam, schedule it in the morning, avoid eating food with cholesterol or caffeine, and drink a lot of water before the scheduled exam.

5. Do not be afraid with the medical exam.