Comparing No Medical Exam Life Insurance

Today there are a growing number of insurance companies that are offering no medical exam life coverage. Each one will have different priced premiums and levels of coverage for an individual to consider. Here are some tips on how to compare them and choose one that suits one’s own needs and lifestyle.

When choosing no medical exam life insurance there are a number of reasons why an applicant will be looking at this type of company. A lot of the times it is because they have been refused coverage in the past and have not been able to get a good policy that will ensure their security in the future.

This type of life-insurance is now becoming very popular and a lot of companies have realised that by cutting out the medical examination it also saves them money too. Because of this there are a wide range of different levels of coverage and policies for an individual to choose from.

Here are the different factors that an applicant should consider when they are applying:

  • Those who have been refused under medical grounds due to having suffered a serious condition that has hospitalised them in recent years will find that they are refused coverage by most insurance companies. By choosing one that does not conduct a medical examination and specialises in insuring these types of individuals will ensure that the best level of coverage is gained.
  • There are also special no medical exam life-insurance policies for those who are in their senior years. Some insurance companies specialise in giving these types of premiums to customers. Therefore choosing one that does this will give the applicant a better chance of achieving a lower premium with a decent level pay-out.
  • People who fall in the highest risk category for insurance companies are ones who currently have a serious underlying illness. This could be suffering from a disease like leukaemia or cancer. There are specialist companies that will provide coverage for this high-risk category. It is important that an applicant does choose this type of insurance company because they will be able to get the most competitive quote.

What is being said here is that it is important to find a no medical exam insurance company that specialises in the area that affects the individual. This will make sure that you get the best possible quotes and that a decent level of money will be paid out in the event of death.

Posted by on Apr 30, 2012 in Blog | 0 comments