A Few Things About Life Insurance Without A Medical Exam
Posted on June 28, 2010
Filed Under Personal Finance | Leave a Comment
Are you aware that Life Insurance No Medical Exam is available? This type of term life coverage option is now available for customers to choose.
You need to look at the benefits and drawbacks of this type of life coverage to see if it is right for you and your family.
You can ask for this option from the top life insurance companies now. By not having a physical exam that normally accompanies a new life policy (term life coverage or whole life .
Key Benefits for Life Insurance No Medical Exam:
- You don’t need to setup an appointment for a Life Insurance Physical Exam
- Regular Term Coverage options are still available for this
- Quickly get insured
- Sometimes you can print the policy right at the computer (term life insurance online)
- You may be insurable with no medical life insurance as opposed to an application that requires a physical
- Supplement your current life policy
- Add more coverage to the current policy you have with your company
This option provides convenience. Normally you would have to set an appointment for the medical exam and wait a few weeks for results. With the no physical life insurance option you can get insured right away . If you are going to purchase life insurance online you can have a policy within the hour
Negative aspects of Life Insurance No Medical Exam:
- More Risk for the insurer equals increases in premiums / cost for this type of coverage
- Death benefit is limited up to $250,000 worth of coverage
- The higher premiums don’t outweight the slight inconvenience of a physical exam
Our advice:
Going through an exam is just a small inconvenience and it is only done one time. Besides, the costs of your premiums will be reduced DRAMATICALLY getting insured with an exam than without one . You can get the right amount of death benefit / term coverage with the physical exam .
Once you apply for life coverage and the application is preapproved for insurability then the life assurance company requires a short medical examination . The exam takes less than 10 minutes and this can be done at your residence or at the clinic . They provide you a number or email to set the appointment .
The medical representative will arrive and :
- Go through your application with you
- Go over some additional health related questions
- Take your blood pressure
- Take your pulse
- Ask you to provide a urine sample
- Draw a small amount of blood
- All this is done within 10-15 minutes time
There are no out of pocket expenses for the exam. This exam is normal procedure for every new life policy . If the insurer finds through the tests that you are not a preferred candidate then they will not be able to insure you and you will not be charged for anything . This protects the insurer and reduces their risk to provide you lower premiums .
With this small inconvenience you now can save more on coverage and have more options to choose from.
If you have no issues with taking a physical examination we suggest that you take it a step further by comparing Life Insurance Rates before you actually buy life insurance.
Look at Life Insurance Rates from top insurers and choose the more Affordable Life Insurance policy that fits your needs. Really cheap term life insurance quotes are available and . Once you purchase the term policy your premiums are locked in for the life of the policy . You can choose 10-30 year term policies .
Do not forget the reasons behind why you are going to buy Term Life Coverage
The purpose of Life coverage is to protect those dependent on your income (children / loved ones) and is a vital financial product . By choosing to skip the exam you may put yourself in a position where you do not have enough life insurance . Although having some form of life insurance is great being underinsured is risky as well .
To find the best life insurance policy compare life insurance rates on line, choose the best policy for you and do the quick medical exam . You will be insured before you know it .
Related posts:
- How One Can Get A Hold Of The Best Term Life Insurance UK
- Low cost International Medical Insurance Broker
- How to Get Inexpensive Life Insurance
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