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.
