As agents we are frequently hearing the question “Is there really a way for my clients to get the life insurance policy they need without the hassle of going through a medical exam?” The answer is yes! Depending on the your individual situation, a policy that doesn’t require a medical exam for approval yet still offers competitive, guaranteed coverage could be available and in your best interest.… Read More
When you are looking for life insurance, you may be asked to undergo a medical exam first. This ensures that you do not have any pre-existing health conditions that can affect whole life policies. While many insurers ask for a health check, some are willing to provide non medical life insurance quotes.
This type of policy is similar to any other term life cover. The beneficiary receives the funds if the insured person dies within the term. The amount of funds depends on the chosen policy and its conditions as well as your affordability.
Term life cover allows people to choose a time-period from 10 to 30 years. But you must remember that if you don’t renew the policy upon expiry, there will be no payment made by the insurer. The non medical policies are generally more expensive as the potential health problems of the insured may shorten his or her life expectancy. But the advantages of this type of cover outweigh its disadvantages.
Although this type of insurance is not suitable for everyone, there are some benefits to it. The time it requires an individual to obtain coverage is much less. A policy that requires health check up will take as long as six weeks before coverage begins as you need to see a doctor and have the reports forwarded to the insurer.
People who opt to get insured without a medical examination will find the process much easier and faster. Less paperwork is filled out and coverage starts within a few days. The advantage of a short wait is appealing to people who want coverage as soon as possible in order to protect their loved ones.
Aside from the convenience of a shorter wait, this type of policy is ideal for those who have been denied coverage in the past due to their ill health. Pre-existing conditions such as high blood pressure, diabetes, or high cholesterol may result in rejection or higher coverage costs. There are many other reasons why a plan with no health check up may be right for the applicant. If you need coverage immediately, or you want to avoid undergoing a physical examination, this plan is ideal for you.
Furthermore, if you are suffering from a pre-existing condition and have not been accepted by insurers in the past, you will still want to protect your loved ones in the event of your untimely death.
When you are applying for this policy online or offline, make sure you give honest answers to all the questions that related to the state of your health. Failure to disclose the truth can result in your policy becoming invalid and your beneficiary not receiving any money at all. The entire process of applying for coverage should take no more than 1 day to to complete.
Before submitting your application, make sure you read all the terms and conditions of the policy. This is very important in order to fully understand how much coverage you have and how your beneficiary can make a claim. As the waiting period of this type of coverage is much less, you can expect a quick approval from the provider.
If you would like to take care of loved ones, it is important to plan for the future. No one wants to think about death but it is inevitable. Many people are choosing no medical exam life insurance policies and there are some pros and cons to consider. Here is a closer look at your options to help you decide.
These policies are easy to obtain. Seeing a doctor or going through a detailed physical examination can be very time consuming. In fact, you might be in a doctor office for hours. In addition, they may send you to a lab for blood work and urine analysis, and you might require a series of x-rays. These things can take up an entire day and you simply may not have time in your schedule.
Perhaps you need a policy in a hurry. You could be planning to travel abroad or perhaps you want coverage to cover a loan. To take out a normal policy you may have to go through a physical examination. Also, your application may go through several people and it could take weeks or longer for you to be approved and receive the coverage you desire.
A life insurance policy that does not require a physical exam is very quick and convenient. You only need to fill out an application and you could be covered in just a few days. This is a smart option for the person with little time or does not want to wait for coverage.
Maybe you have a heart condition or a history of cancer. If you were to take an examination chances are you would not pass. Many insurers want their policy holders to be in good health. This way, they assume less risk and make more money.
If you have health issues you may not be able to find a standard policy. In this case, it makes a great deal of sense to find an insurer that is willing to issue you a policy without any examination. Many companies guarantee that they will approve you for coverage.
Not everything is perfect and your no exam policy may have limits on coverage. This will depend on certain risk factors like age and general health. For example, you may be able to receive $100,000 worth of coverage, whereas $300,000 coverage may be possible with standard policies. However, everyone’s situation is different and the numbers can vary a great deal.
You may find that rates are somewhat higher with guaranteed coverage policies. However, if you need coverage and you do not want to take an examination, it could be well worth the additional cost of the policy. Plus, when you add in the convenience factor, it can be a good deal.
If you are interested in life insurance that has guaranteed acceptance, you can check out insurers on the World Wide Web. It is very easy to shop this way and many companies offer free quotes online. Also, you can always contact insurers for more information and they will provide answers to your questions.
If you are looking to insure your life you have a number of options to explore. For example, do you choose term or another kind of coverage? Here is a look at some common life insurance no medical questions that may help you make an informed decision.
Q. What does a no exam policy mean?
A. You apply for coverage and there is no need to see a doctor for an examination, x-rays, or blood work. You provide sufficient information to the insurer and will receive a policy.
Q. Is there a waiting period on this kind of policy?
A. It is much quicker than standard policies (usually a few days) as standard ones require exams and must be underwritten. The process (for normal policies) can takes weeks for approval. It should not take long at all for you to receive coverage for a no-exam policy. However, it is important to check with your insurer about waiting periods for death benefits, as that varies according to policy and some can be as long as a year or more…. Read More
If you want to obtain life cover without having a physical examination, there are now companies that will accept such application to save you money. Some people cannot stand going through detailed doctor examinations in order to qualify for a more traditional policy. The no medical exam life insurance has many advantages, some of which are outlined below.
Naturally, you want the best for your family, and also you want to make sure they are taken care of if anything happens to you. The person you nominate to receive the money is called a beneficiary. The insurer will pay the funds to the person you nominate upon your death.
To save money on this type of cover, there are a few tactics you can use to get the policy you need, without paying a high price. The first way is to purchase a simplified policy or a guaranteed one. Either one of these means you will not require a medical examination. All that is required of you is to answer a few simple health-related questions…. Read More