Understanding Life Insurance Without a Medical Exam

It’s quick and easy to get a life insurance without a medical exam. There are a few insurers that even offer to approve online applications almost instantly if you qualify. No more messy paperwork. No troublesome medical exams. No more aggressive insurance agents and most importantly no more waiting to receive your policy! While it has many advantages, does it really fare that well as it sounds?

You should be aware that life insurance with no medical exam requirements would probably cost more than other normal insurance policies because the insurer has to undertake higher risk. To some folks, the benefits such as no doctors, no scary needles and no mailing delays could outweigh the costs.

That’s not all, there are a few more disadvantages that you should be aware of.

Usually life insurance companies require strict medical exams because they want to understand what they are up against. They really want to know exactly who and what they’re insuring, and how risky it’s going to be for them to insure you and your health. A life insurance company certainly has the rights to deny you a term life insurance policy, and a failed medical exam may give them reason to do so. If you have been smoking for the last few years, having high blood pressure, having high cholesterol levels, high body fat percentage doesn’t necessarily mean you will be denied. It may just mean your premiums will be much higher than if you didn’t smoke and had no current health conditions.

Most insurances of this kind are sold in “blocks” which cost an average of $20-$30 or even much more per month depending on your gender. If you think about it rationally, it’s quite reasonable because the average funeral would cost at least tens of thousands these days. This means that realistically you’d need to purchase many blocks to make sure that you are100% covered and didn’t leave your loved ones with unexpected expenses. This can become highly expensive if there are two people to be covered such as a husband and spouse. Hence, this is not recommend for those who are retired or are approaching retirement age.

Additionally, life insurance companies that offer term life insurance policies without requiring a medical exam might not provide optimal coverage or coverage that you want. Let me give you an example. You will be paid with a reduced benefit or even nothing at all for most policies, in the event that you pass away within the first two years of the policy being issued. Some of these life insurances without a medical exam policy don’t require a medical exam because they either pay a reduced benefit or nothing at all if you happen to die of natural causes during the policy’s term. This could creep up on you if you don’t read the fine print, and it’s also another important reason to talk to a real insurance professional.

Most of these policies will cover you fully for accidental death from the day one. It means that although you will not be covered in the event of a natural death such as diabetes, lung cancer and many more. You would probably be 100% covered in the event of an accident such as a car crash, fall and more. However, I’m sure that most insurance policies have certain exclusions in your policy for recreational activities such as motocross, scuba diving, race car driving and more.

To find out whether you qualify for life insurance without a medical exam, simply answer a few simple health questions about yourself to get your instant quotes. If you like the rates, you can apply online in about five minutes. You usually get a response within ten minutes whether you are approved for your life insurance without medical exam coverage. Lastly, you have to pay your first month’s premium online, and print your policy as a reference.

You would want to do an extensive research on the life insurance companies that you are interested because not all are credible and reliable. Many have tried to “scam” the innocent policy holders by writing tricky sentences on the fine print. Pick not only one, but a five to six companies so that we can compare them side by side to see which one has more benefits and lower premium rates.

Finally, once you have chosen a reputable life insurance without a medical exam company, make sure you understood every single line that is stated in the terms and condition. They should have a phone number where you can call if you have any doubts or questions. You might want to check the financial rating which is provided on your insurer website as well. A final tip for you: Paying an annual premium is usually more affordable than monthly payment options so try to achieve paying an annual premium for your life insurance.