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.
Once you answer the questions and the insurer has verified your answers, you will be able to qualify for life insurance. Most people don’t like going through tedious health assessments in order to get insured, hence the reason they opt to pay a little more for the convenience of fast coverage. However, if you are in good health and prefer to pay a little less every month, there are insurers that offer para-med exam which can be done on the same day of your application.
Keep in mind that different insurers have different criteria. It is best to read the fine print before agreeing to their terms and conditions. By complying with their rules, you will be insured immediately and your premium is deducted from your account in a month’s time. You just need to make sure that you select the right provider.
Some insurers take the hassle out of buying life insurance by allowing people to skip a health examination. While this sounds like a good idea when it comes to convenience, remember that you still need to be honest about the state of your health otherwise your policy will be void. Most applications forms ask for details of any pre-existing conditions and family history of heart disease and cancer. You must also disclose whether you are a smoker or not as this will affect your monthly premium amount.
It must be noted that once your coverage expires, you may not be able to renew your policy if you are diagnosed with a major illness. To avoid this from happening, it is best to opt for automatic renewal coverage, which will also save you money. But no matter which option you go for, getting a quote is the easy part. All you need to do is fill out an application form online and submit to the insurer.
Buying life cover without any medical examination means you can minimize this hassle by spending a few minutes in the comfort of your own home reviewing and comparing quotes from several different companies. To select the best quote, complete the online form and wait for the insurer to review your application. Before signing the agreement, the provider may request for specific documents from you before activating your policy.