Share the post "What You Should Know About No Exam Life Insurance"
You May Want to Consider No Exam Life Insurance
It’s important to have life insurance to keep your family protected, but choosing the right policy can feel overwhelming.
There are many different types of insurance available, see you can easily find one that suits your personal needs and goals. One option you may want to consider is life insurance with no medical exam.
How the Program Works
Before issuing a no exam life insurance policy, most insurance providers will take steps to minimize their liability. They do this by asking applicants a series of questions about their health. Full disclosure and honesty is expected on these applications.
They may also request documentation and records from your family physician and pharmacy. This information is used to determine overall health without a medical exam.
Advantages and Disadvantages
No exam life insurance has its own unique set of pros and cons.
The application process is easier, and policies typically go into effect more quickly. You don’t have to deal with a health exam, and that makes everything more convenient. Insurance companies are willing to offer these because they save a significant amount of money by forgoing the medical exam.
However, this insurance also comes with a few disadvantages. If you like the idea of getting a free and thorough medical exam, then you might want to choose traditional insurance.
Another downfall is that these plans typically carry higher premiums because the insurance company is unable to determine exactly how healthy you are.
The Ideal Customer
Life insurance with no medical exam is the right program for anyone who needs life insurance quickly. Many people simply hate going through medical exam or don’t have the time available.
If you are under age 65 and want coverage up to $1,000,000, the no exam insurance providers will want to confirm that you’ve had a physical exam in the last 5 years and you are in good health.
If you are wanting final expense insurance with face amounts less than $50,000, a checkup in the last 5 years is not required and individuals with more medical conditions can be approved.
There are several different no exam life insurance types available. You can choose a policy that fits your financial needs and your budget. The ability to skip the medical exam makes getting coverage more convenient and faster.
Please speak with a licensed insurance agent to determine which type of no medical exam life insurance is best for your. 1-888-773-1181