No Medical Exam Life Insurance
A no medical exam life insurance policy is one that does as the name suggests. There is no medical exam required to buy one of these life insurance policies. There are a number of life insurance companies these days that are offering such policies and they are more popular today than ever. If you are young and healthy it is easy to qualify for a no medical exam life insurance policy. These policies can be processed very fast since there is hardly any paperwork necessary. However, if you already have a serious health condition like heart disease, AIDS, cancer, diabetes or a psychological disorder you may not qualify. A simple questionnaire is usually mailed to you when you inquire about a no medical exam life insurance policy. When applying for this kind of life insurance policy you will be asked some basic questions like your age, gender, and health condition. After you have filled out the questionnaire the insurance company will review it and let you know if you are eligible or not.
If you are an older person you can also get a no medical exam life insurance policy. In the past older individuals were required to have a health exam before they could buy any kind of life insurance policy. You won’t be required to take a medical exam with this kind of policy. These are not types not large amount life insurance policies. They are usually taken out by the elderly to help cover funeral expenses and to perhaps pay off a few bills when the person dies. Since the application is fairly simple and there is no medical exam, it is very easy to buy these kinds of life insurance policies to help cover such expenses. The premiums depend on how much coverage the policy provides. The more the amount of coverage you buy, the higher the premiums will be, obviously.
When shopping for no medical exam life insurance policies, there are two important things that you should keep in mind. The first thing is that this kind of life insurance policy typically has higher premiums since the insurance company can not really calculate the risks they incur when they insure individuals. The premiums can be a lot higher than a term life insurance policy. The other thing is that if you try to mislead the insurance policy on your health condition it can cause them to cancel your policy if they find out. You should not provide false information and make sure you always disclose a pre-existing condition if you want your policy to stay in effect. Also, if you were to die of a health related condition that you did not disclose, such as if you are a smoker who dies from lung cancer, your beneficiary may be denied the death benefits.
The best way to find no medical exam life insurance is to go online and search for a website that has a database of insurance companies. Type in the words "no medical exam life insurance" in your search engine and a list of websites will come up for you. You can then check out what is available and contact the insurance company you are interested in for a questionnaire to be mailed to you. Some websites will allow you to fill in the questionnaire online.
After that it is a simple matter to buy the policy of your choice in the amount that you prefer. Also, younger individuals find this type of insurance easy to get and a good way to protect their loved ones in the event of their death. A child can be provided a college education if the parent dies or any outstanding bills can be paid off along with funeral expenses. For a larger life insurance policy you should shop for traditional term or whole life policies. No Medical Exam Life Insurance policies typically are 10, 15 and 20 year policies and the issue amount can be limited to $250,000.