One of the most sought after forms of life insurance at the moment is defiantly term life insurance with no medical exam. A lot of us are considering this insurance not just because of the benefits that a term policy brings but mainly because there is no physical exam involved in being accepted for this policy.
Even if you smoke, you are overweight or you are on medication, you can still qualify for this coverage, so why not give it a go? To apply for this coverage all you need to do is provide some basic information about yourself and answer a few health related questions. You will then be accepted or denied based on your answers to these questions. Basically with this coverage you could get insurance valued between $25,000 and $500,000 in a matter if minutes.
If you don’t have the time or the desire to take a medical exam in order to gain the coverage that you need then you should consider applying for a no medical life insurance policy. As long as you don’t have any serious pre-existing medical conditions you may be able to take out this policy. You need to keep in mind however that term policies will be more expensive due to the fact you are not undergoing a medical exam but the monthly premiums will vary from company to company.
Term life insurance that doesn’t require a medical really is one of the easiest ways that you can gain the coverage that you need and in order to help you see why I have complied a few pros for the policy. However in order to balance things out and to allow you to make your own mind up I have also thrown in some cons too:
Your application can be completed in a matter of minutes, after which your cover will start straight away.
You just have to fill in one questionnaire based on any medication you are currently taking, your medical history and your family’s medical history.
This pretty much speaks for itself as you don’t have the hassle of a doctor’s visit so you may have a greater shot of getting the coverage that you need.
Many people opt for smaller amounts of insurance due to the added cost but this is personal choice as you can still get a higher premium if it is needed.
Most questionnaires are thorough so if you withhold information from your provider they have the right to cancel your policy.
This is down to the fact people over 50 years old, people in certain occupations and people with high risk hobbies usually can’t obtain this form of insurance.
As long as you are honest within your application you should have no problem obtaining a term life insurance policy with no medical. Providing information such as your age, weight, height, whether you are a smoker, if you are on any medication, if you have been involved in any accidents and your occupation as well as information about your medical history will take about ten minutes. When this information is submitted you will be informed straight away as to whether your application has been successful and if it has you can purchase your policy there and then, giving you instant coverage. Now think about how long it would take to get coverage if a medical exam was involved.
If you are looking for the easiest, quickest and most hassle free form of term life insurance around then you have found it in the form of term life insurance with no medical, all that is left for you to do now is apply for it.