No Exam Life Insurance: Get Coverage Fast With No Exam Life Insurance

In order to provide more insurance to customers, some companies provide a policy that doesn’t require a medical examination. Read here to see the pros and cons, and decide if it’s right for you.

There are numerous ways for you to get life insurance. In certain cases, you will have to undergo a medical examination before you can be covered by a life insurance policy. This is a way that insurance companies use to determine whether you’re healthy enough for them to assume the risk of underwriting a policy. This will require that you visit a doctor, who will do various tests in order to detect any potential medical problems that you may have, and that you may not have even known about.

If you have some medical conditions, even if they’re not immediately life threatening, insurance companies may deny you coverage altogether, or charge you premiums that are much higher than they would for a person that is completely healthy. This means your insurance will end up costing you a lot more than you may have expected in the first place. But if you look around for life insurance policies, you may have seen that some companies offer no exam life insurance.

This means that you can get an insurance policy without having to do a medical examination first. All that you need is to fill out a simple online form, and you’re good to go. When you apply for insurance with no medical exam, you will often be asked to fill out a simple questionnaire regarding your health. Certain health conditions may be disqualifying, or limit the amount of coverage that you can get. For example, having cancer within the past 5 years could be a problem when trying to obtain life insurance from most companies. Even though no formal medical exam is required, it’s important that you answer all health related questions completely and honestly. If the insurance company finds out that you weren’t truthful about a medical condition that you had when applying for insurance, they can use this as an argument to not pay out any claims.

You should also know that many of the insurance policies that don’t require any medical exam only pay limited benefits in the beginning. Usually this is a period of about two years. What “limited benefits” means is that the insurance will only pay for accidental death during this time. If you die from any illness or health problem in the first two years, your beneficiaries will get either nothing at all, or just get the amount of premiums that you paid refunded. After that is when you get the full benefits package.

The cost of life insurance without a medical exam will vary from one company to another one. Plus there are other factors that influence the price, such as your age, gender and use of tobacco products. In order to get the most coverage for the lowest monthly premium, you can shop around to compare what the different companies have to offer you. Since there are so many companies which offer life coverage without requiring a medical exam, you’ll have no trouble finding them online.

Posted by on Jul 16, 2013 in Blog | 0 comments
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