There is no doubt that term life insurance is the most
affordable life insurance out there. You don't have to think
about cash values, investment performance, or getting loans that
permanent life insurance offers. It's pure protection and can
help your family avoid financial problems due to an unforeseen
death. Having life insurance is a great financial tool... if
you qualify for it.
For traditional life insurance policies, the first the you do is
apply. If you're online, you would probably shop around and
look for the best life insurance quote beforehand. Then the next step
is the medical exam. So what happens when you get an
examination? Depending on the amount of coverage you apply for,
most likely they'll ask some detail questions about your medical
history, get a blood and/or urine sample. The life insurance
company has to weigh out their risk. They do their due
diligence by examining how long you might live based on
actuarial tables.
The good thing is that you'll be getting a medical exam for
free. You'll see find out how good your health is. The bad
thing is that you might find out medical problems you didn't
know about. This will alarm the life insurance company and
possibly stop you from insuring your family. If you wanted to
have coverage with medical problems, you would pay inflated
premiums.
You might not even have big medical problems. Various companies
look at health problems differently. One company can look a
minor asthma as a minor problem. Another one can charge you 50%
more for the same problem.
How about if there was a way to get term life insurance with no
exam? I've come to give you the good news. There is.
If you're searching around yourself, here's a list of things to
look for:
--What is the length of the coverage?
Term examples:. 5, 10, 20 years
--Will they penalize you against a known medical problem?
The application will ask about your medical situation
--If they consider your medical problem, is it a rated policy?
These policies are pretty expensive.
--Does the company offer immediate coverage?
--And most importantly, do they offer term life insurance with
"no exam?"
After reviewing the checklist, you'll be able to find companies
that offer life insurance without exams and hefty premiums (for
average individuals). For individuals that have high medical
risks, a rated policy might be the only policy you'll qualify
for. Do you have medical problems related to your nervous
system, heart/vascular system, blood or immune system, liver,
kidney or pancreas problems? If you do, it might be better to
look around for the best life insurance quote for your situation.
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