Getting life insurance without a medical exam is ideal for many situations, but you need to shop carefully and understand what these policies offer and, perhaps most importantly, what skipping a medical exam could cost you. There are several benefits to obtaining a no medical exam whole life insurance policy.
No medical exam term life insurance 2018
One of the main reasons that so many people favor no exam whole life policies is because there is no exclusions when it comes to existing health conditions, no exam life insurance. Many life insurance carriers will refuse to issue a policy for people who have been insurance with cancer, have a history of heart problems or even have been smokers throughout their life. With versiculos sobre intimidade whole life insurance no exam policy, exam can get coverage no matter what your circumstances or your current medical conditions.
If you pass away during the period where the policy is active, your dependents will get a lump-sum payment that can be applied to funeral expenses or helping them maintain their current lifestyle while they make other arrangements. In addition, all whole life policies have a cash value and do not expire, unlike term life plans. In short, if you currently have medical conditions that would normally prevent you from getting a policy, this particular type of screening is ideal for the whole life insurance product.
Forgoing a medical exam is not without a price. It's important to realize that most no medical exam whole life insurance policies probably have limitations and exceptions to coverage. It's very common for this type of coverage to have an exclusion period, often as long as two years, sometimes longer depending on the provider.
This means that if any of the policy holders die from natural causes or disease during this time their beneficiaries may be left with a reduced settlement or no payout at all; being involved in an accident may or may not apply to this limitation.
Getting a Whole Life Policy Without a Medical Exam
In addition, buying a whole life insurance no exam policy can be very expensive - often significantly more than a comparable plan where the insured undergoes an examination. Since costs can be as much as double that of a policy issued without an exam, you should try to exhaust that option first.
There are insurance a number of benefits when comparing insurance exam coverage with traditional policies. Traditionally, exam life, insurance companies have assessed risk based upon medical evaluations and perceived life expectancy. Providing coverage without a medical exam comes with a risk, a risk which translates to those higher premiums. However, there are some insurers who offer life insurance policies with no medical exam at no additional cost based upon your health status and age.
Graded Death and Guaranteed Issue life insurance can be ideal for those with medical complications that may lead to a denial of traditional coverage, while Simplified Issue can be a good fit for those in good health who simply want to avoid a prolonged application process or the need for a medical examination.
If you fall under any of these categories, now is a great time to secure no exam coverage. Whether you want term life insurance without medical questions or without an exam, Efinancial can help. We work with the top carriers in the industry, providing side by side comparisons of the most competitively priced policies on the market. Request your free quote and secure no exam life insurance coverage today. We do the Life Insurance Shopping for You.