No Medical Life Insurance Policies-A Few Relevant Facts One Should Know About

Life insurance no exam is a unique policy that has many pros, but all these are overshadowed by the only con side it has. However, before we go into that let us have a look at the salient features of the policy. They are as follows
• Usually, for all life insurance policies, you have to undergo a paramedical test. But no exam policies exempt you from that.
• Generally, other policies take four to six weeks to finish the underwriting process. But in the case of no exam policies the process will be over in a very short time span and you may have coverage within twenty-four hours.

If you want instant coverage, the life insurance no exam policies are the ideal choice. But you have to understand this: these policies are very expensive. Despite their higher rates these are only term life policies and therefore they don’t provide you any return unless you die with the valid period. First you decide on the coverage amount before buying the policy.

Therefore, if you want instant term life insurance coverage be ready to pay at a higher rate. Start the purchase process by going online to look for its quotes. Indeed, you not only get such life insurance quote on line, but if you wish, you can complete the entire procedure online without any face-to-face dealings. The purchase procedure is easy. You only have to decide on the appropriate coverage amount and coverage term, fill up an online form and hit the submit button. If you qualify, you will start getting the coverage from the next day only.

It is a fact that a whole life policy such as the graded life also provides you the coverage without conducting any medical test, but that is all together a different policy. The main differences between the two are:

• For any life insurance no exam policy you need to answer some health related questions, but the graded policy exempts you even from that.
• The coverage under the graded policy is guaranteed, but no exam policy requires you to qualify.
• The no medical policies provide coverage for the full amount and that too for death due to any reason whereas for the graded policy, the full coverage is applicable only after two years.

Both these no medical life insurance policies have their own merits and demerits. Therefore, first you decide which one will suit you more. As you know the term life no exam policies are more affordable than these graded policies. However, to determine the exact difference in price, you should compare quotes first.

Indeed, the process of purchase always begins with receiving quotes; but always remember that the quotes are just estimates. The actual price can be little different. However, to make sure that they do not differ too much, you should always make sure the inputs you provide in a quote form is as accurate as possible. Receiving life insurance quote on line does not take time; but you should never hurry through the process either.

If you go online you can get instant term life insurance quotes to buy life insurance no exam policies, but the point is: you must get all your facts right before you fill up the form or hit the submit button. A fully underwritten term life insurance policy usually requires the following:

All these are applicable mainly for fully underwritten term life policies, but for life insurance no exam, the carriers may not ask you for your body mass index or tobacco use. These facts can be validated only through direct physical verification or blood test. The medical exam that the carriers takes are merely paramedical in nature and does not involve anything more than taking measurement of height and weight, pulse rate and blood pressure, collection of blood and urine samples. However, without such test, the carriers cannot be sure of many important factors and hence they face greater risk in insuring you. Hence such plans are rather expensive. Opt for them only if you have to.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life ins quotes and life insurance no medical, visit his site today.