No medical exam term life insurance has opened wide the doors of the insurance world to people of all health conditions and age. This is really a good news for those who have age and health barriers. It combines the benefits of life term insurance with that of no medical policies and enables people to be covered for a certain period of time. One need not attend any medical exams or answer detailed medical questions. Even though all who apply cannot qualify, more people have the chance of getting covered.
Instant life insurance with no exam policy does not involve medical examination. It does not mean that anybody can get covered under such a policy. One has to meet certain eligibility requirements to obtain term insurance by answering few medical questions. While this kind of policy is open for people of all age groups, seniors may have to face some problems. Since, certain terminal illnesses are associated with old age, they may find it difficult to get approved. Especially, those elderly citizens who are in the nursing homes would not qualify. Almost every insurance company considers such people to be high risk.
No medical exam policy allows people with health conditions to be covered unlike other polices with medical exam. However, people with certain specific health conditions may have difficulties even with the instant life policies. For a person with any terminal illness or health condition that would possibly lead to terminal illness, it is difficult to get approved or he may even be disqualified.
Term life insurance with no medical exam policy is available, mostly in the standard range of 250 to 500 thousand dollars of coverage. Since such term policies are more expensive than the usual term policies with exam are, you may have problem in deciding the coverage. If a policy covers you adequately at a reasonable rate, go for it. Calculate your living expenses, multiply them by the time period (months) for which you need coverage and add large expenses like education cost, loans, wedding, etc. which would give you an idea about how much to buy. Once you have the number, you can move forward.
How to get no medical term life policy? This kind of policy has become very popular today due to its simplicity and surety. To meet the demand, many insurance providers are offering this type of policy. Obtaining no medical exam term life insurance is very simple. It starts with getting a life insurance quote from the providers in person, over the phone or online. The estimate will let you know how much the combination of your risks and coverage amount will cost you. The simplest way to obtain the quote would be through the Internet. You can get quotes from different providers instantly, compare and choose from among them. Once you are satisfied with a life insurance quote, you can apply for the policy online by providing basic information about your history and health.
Usually the providers will inform you whether you are approved or not immediately. If approved, simply pay the premium, take a print out of the policy approval document, and start using it. When buying insurance, your main goal should be insuring your life for a period of time. Ignore the other aspects such as flexible payments, cash value, etc that may distract you if your goal is to get covered at an affordable rate.
If you are not approved by one provider, don't stop there. As the underwriting rules differ from one company to another, you may get approved by another provider. Get the reason from the provider why your proposal was not approved. If you are not approved at all this time, you can work on improving your health and lifestyle to try again after a while. Even though, this policy is more expensive than other policies, it is a boon for those who need coverage at any cost.
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life ins quotes and term life insurance no medical exam, visit his site today.
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