Reasons Why You Need No Medical Exam Life Insurance

        If you do not have life insurance, you are taking a very large risk. While the odds of something happening to you are fairly low, you are taking a very large gamble as the repercussions of an accident are tremendous. The money generated by a life insurance policy can help the family left behind in so many ways. Even if you have been declined for a traditional policy, no medical exam life insurance is still a necessity. Here are some of the top reasons why people buy life insurance:

Replacing a lost source of income – If someone provides income for their family and that person passes away, that source of income is no longer there, weighing heavily on the family. With a decreased household income, the survivors will likely have to make sacrifices. However, the death benefits of a traditional or no exam life insurance policy can reduce the burden on those left behind by supplementing the household income.

Finding financial goals – Almost all families have some source of debt, recurring payments, or financial goals. Most families have to allocate a large portion of their monthly income toward mortgage payments. A portion of the death benefits can be allocated toward mortgage payments or a child’s college fund.

Covering medical and funeral expenses – The insured will probably incur large medical expenses before their death, whether they are ill or the victim of an accident. After death, burial and funeral expenses are significant, as well. The combination of these expenses can be crippling to a family. A dependable life insurance policy, even life insurance without medical exams, can recoup a lot of the medical and funeral expenses.

Creating an inheritance plan – If you want to leave behind money for your children and/or grand children, the death benefit from your life insurance policy is a great start for a savings or investment plan. Having life insurance is a great way to be positive that you are leaving money behind for your loved ones.

Posted by on Jan 12, 2012 in Blog | 0 comments
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