No Exam Life Insurance – Get Life insurance with no medical exam
Life insurance is an important purchase, but for those with health challenges and a history of illness coverage can be difficult to obtain. That is because so many life insurance issuers require all new applicants to submit to an extensive health examination. The results of that health exam can doom the individual’s chances of getting the coverage he or she needs, leaving the family without protection and the applicant without the needed coverage.
Fortunately for those individuals there is another option – no medical exam life insurance. Getting life insurance coverage without submitting to a medical exam is appealing on a number of levels, and this option has been gaining in popularity. Purchasing no medical exam life insurance can be an excellent option for many shoppers, and it is important for life insurance shoppers to understand their options in this arena.
Shopping for no exam life insurance coverage is quite different from other types of insurance shopping, and it is important to be prepared. One of the most important things to know is that not all life insurance issuers will provide this type of coverage. When shopping specifically for this type of coverage it is often a good idea to enlist the services of a life insurance agent or insurance broker. A good insurance broker or agent will be able to determine which companies offer no medical exam coverage and will also be able to compare the various coverage options and premium plans available.
It is also important for life insurance shoppers to understand that the premiums for no medical exam life insurance tend to be higher than comparable premiums for policies that do require a medical exam. The reason for the differential should be obvious – without a thorough medical exam the issuing company has no way to accurately assess the health of the applicant, and that puts the company at a greater risk. This higher risk is reflected in the higher premiums that these types of policies typically carry.
Despite the higher premiums, however, no medical exam life insurance has a number of important benefits, and it has become quite an attractive option for many people. The reasons for this increasing popularity are many, and they vary from person to person. Some people simply do not wish to submit to the indignity of a medical exam. Others are uncomfortable with a private company knowing so much about their health. Still others prefer the streamlined application process of a no medical exam life insurance policy. The key to getting the best possible coverage at the best possible price is to shop around and understand all the options.