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.
