Young people who are busy executives are always in a hurry. This is why they use some form of technology for every aspect of their lives. With growth of the Internet and the ability to access it wherever you are and even on a mobile phone, most young executives conduct all their business using their smartphone, iPad and other gadgets. To cater to this instant generation, life insurance companies are also allowing them to complete the entire insurance application process on the Internet.
This has been one of the reason why life insurance no exam gets more popular by the minute. Convenience is the name of its game. Obtaining rates will never be a problem. All you need is any device that can give you access to the internet and you can begin your search without having to leave where you are. Also, you wouldnt have to undergo any medical exam. You may be asked to provide details that pertain to your medical history though. You would have to give in a number of personal details as well.
If you are eyeing on no medical life insurance, be sure that you are familiar with the other side of the coin. Below are some truths that belie the famous misconceptions that people may have about this policy.
Approval of the application is not always guaranteed
Not all insurance firms offer the same rate
It has inclusions as well that are usually valid for two years
Rates may be high but the coverage isnt always low
There is certainly no problem with the gender of the applicant
Only a few insurers put age limit to the buyers
Dont think that you can get away from being asked to answer medical questions as the insurers has to have knowledge about it though it wont be valued much.
Normally, you will be given a series of questions that you will answer. It will pertain to your medical history and maybe even your familys as there are illnesses that are inherited. But you will not undergo the actual physical exam. In addition, not all the insurers will offer the same rate as they have different rules and underwriting processes. This is why you still should compare each quote very carefully so that you can get the lowest possible figure.
It is not correct to assume that all no medical exam plans have a two-year waiting period before the death benefit is paid out. A simplified issue plan does not have a waiting period and a guaranteed issue plan provides exemption on interest refund for non-accidental deaths. Two other misconceptions are that the plan is very expensive and gives only low coverage amounts. Many insurance providers have modified their policies to give coverage of up to $250,000 for a no medical exam plan. Also, those who are young and healthy can still get low insurance rates even for this plan.
Like other insurance plans, the rates for this also depend on gender, smoking class and overall health. Young women who are healthy will get affordable no medical exam insurance. This policy covers a wider age group with even people who are 80 years old being given coverage as long as they are in reasonable health. So, it is important to clear up these and other misconceptions about no medical exam insurance before searching for the best plan.
Thanks to the technological advancement. You can now do things in any part of the globe with just a few clicks. As long as you have internet connection, you can gather life insurance quote on line. It has many upsides and it is very expedient to do the gathering in this manner. You can get the figures from different insurers without the need to go through the hassles of personally appearing in their offices. The rates can be accessed from the websites of the carriers and from highly regarded agencies. You can even get a few quotes from various insurers all at the same time.
Getting instant term life insurance quotes and comparing them, is a good way to avoid pricey polices. By searching the Internet, you will gain knowledge about options available to you that you previously were not aware of. This is why many experts suggest you request online quotes independently and not through an agent. An insurance agent will only try to sell the plans that he wishes to promote and you will not get a complete picture of the plans available. Free quotes take into account factors like age, gender, hobbies, addiction and general health of the applicants. The quotes provide initial estimates of premiums you will have to pay depending on the coverage and period required. So, getting a quote on line is a good way to choose the right policy.
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life insurance for seniors and seguros de vida universal, visit his site today.
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