Affordable Life Insurance No Medical Exam 2017
Affordable Life Insurance No Medical Exam 2017 compare quotes online at www.MintcoFinancial.com
While every company has policies that require a medical exam, some companies offer policies where you can get life insurance without medical exam.
Guaranteed issue whole life insurance meets the needs of people with health conditions that would preclude the issuance of a more traditional term or whole life policy.
Their main attraction is that they are offered on a no-questions-asked basis – that is, you’re covered for life, or until you stop paying premiums. Thus, even if you have a serious disease like AIDS or cancer, you still can purchase life insurance coverage.
The advantage of Life insurance no medical exam is you do not have to go through the health screening that the standard policies require.
This key feature is very appealing to those who were denied coverage from a traditional policy or received very high premiums due to pre-existing condition.
People with high cholesterol or blood pressure, diabetes, sleep Apnea, or even smokers will opt to go with a no medical exam life insurance policy so that they can avoid the higher rates. What many people do not know is that a no exam life insurance policies are approved in much shorter time periods than a traditional policy.
Cost of Life insurance with no medical exam
The main issue with “no exam” life insurance is that it can be more expensive than a policy that requires a full paramedical exam. When an insurance company insures a client without complete knowledge of their present health condition they bear a greater risk. Greater risk generally means increased premiums. Insurers use an underwriting process to assess the many risks involved in insuring the life of a particular individual. Each insurance company has a unique underwriting process that weighs the various risk variables differently, including different policies concerning “no exam” coverage. Therefore, considering several insurance carriers is very important when purchasing “no exam” life insurance in order to find the company that is the best fit for you and your family.
Types of No Medical Exam Life Insurance
-The most commonly used no medical exam life insurance products are issued as term policies, usually for 10, 15, 20, 25, or 30 years terms. Different companies will vary on coverage amounts and durations that they allow.
-Whole life insurance policies without medical exam are available, however, these are usually for very small amounts, and are also known as “Final Expense” policies. These policies will usually range from $5000 to $50,000 of death benefit (face amounts).
Apply Affordable Life Insurance No Medical Exam 2017
Life insurance without a medical exam is not for everyone, but there are times where it is appropriate. Whether you are considering no medical exam life insurance, or traditional (“fully underwritten”) life insurance, we encourage you to contact an independent agent to help guide you through these decisions and to help obtain the best coverage for you.
Contact Mintco Financial Agents at at 813-964-7100 or apply online at www.MintcoFinancial.com
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