subject: No Medical Exam Life Insurance: Top Tips For The Would-be Policyholder [print this page] A no medical exam life insurance policy may well be the best type of coverage for you and your family. For instance, if you have been applying for a life policy to no avail, you may consider getting no exam insurance as your last resort. Just make sure that any previous illness you had is not serious or life threatening. Insurance companies will still check medical records and if they find out that you lied about your condition, your insurance could be cancelled. Another situation in which you may need no exam insurance is when you do not want to incur delays in getting insurance approval. But whatever your reason is, this type of policy can address your needs.
No medical exam life insurance policies only require a potential policyholder to answer a questionnaire that asks for his past and existing health condition and lifestyle. You need to be really honest when answering the questions because these will form the basis of whether the insurance company you picked will approve your policy or not. Do not worry if you experienced getting sick in the past. For as long as your health condition or lifestyle does not make you a very risky policyholder, there will be insurance companies that will consider you as eligible for no exam insurance packages.
The average cost of no medical exam life insurance policy can reach around $100,000. Some insurance coverage of this type can even go beyond this figure, especially if the applicant is over 40 years old or has preexisting conditions. Older folks can still apply for a no exam insurance package but they may have to pay higher and their coverage limits may be significantly lower compared to younger policyholders. It must also be pointed out that no exam policies offer one type of coverage, so if you want to get more benefits, you may still be required to undergo a physical exam.
Indeed, if you want to avoid all the hassles of getting insurance coverage, you can always turn to no medical exam life insurance. You will be in a perfect position for this kind of insurance if you are in tiptop health and if you do not practice habits that are proven to be bad for your overall wellbeing. But even without the usual paperwork, you still need to read the fine print in your no exam insurance policy. Just like in standard insurance packages, signing a no exam policy right away without understanding the whole contract can lead to problems later on.
by: Russell Rabichev
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