Life Insurance No Medical Exam

If you are looking for a life insurance policy, there are certain prices that you have to pay. We are not talking about premiums and deductibles here. We are talking about the need to undergo medical examination before the insurer finds you eligible for the policy. Although life cover is a very important part of the investment that you make to secure your life, it does not come easily unless you are ready to undergo a complete battery of test. The only way to avoid this hassle is to choose no medical life insurance.

The Benefits of Life Insurance No Medical Exam:

You receive insurance quickly

If you do not mind undergoing a battery of tests, it might be easier to find a life insurance policy. However, there could be some unwanted delays and expenses that you might have to incur. For one, a medical exam could bring to light some of the health issues that you did not think existed in your body. When the insurer finds such results, you might either have to face delays in obtaining the policy or forego it altogether.

In order to be found eligible of the policy, you need to correct those health issues and revisit the insurer. When you choose a no medical policy, such delays are eliminated. While a conventional life insurance takes around a month or more to begin coverage, no medical policy coverage begins within a fortnight. You are not devoid of the life cover for long.

You don’t have to put yourself through a lot of trouble

Health insurance companies do not take your health lightly. So, even if you are a tad overweight or just bordering on the obese line, you have to put on your running shoes and get back in shape before you can be accepted for the policy. If the hemoglobin level in your body is found to be low, you will have to fill yourself with spinach and iron supplements to get the level high. If you are not fussed about going through so much of trouble, a no medial life insurance is just what you need.

Your preexisting condition does not matter

Although life insurance policies are open to everybody, you will find it almost impossible to find one if you suffer preexisting conditions. You will not face such problems if you choose a life insurance that has a “no medical” clause.

You don’t have to face your fear

These policies are God-sent for people who run a mile when they see needles, hospitals and doctors. With no examination, there is nothing to fear about.

So, you cannot refuse the benefits of a life insurance policy that does not require you to undergo myriad physical examinations.

Why Are These Policies Not Perfect?

To put it simply, these policies are not perfect because they are too expensive. When compared to policies that do require medical examinations, these policies could be several times higher in terms of premiums as well as deductibles. So, in the long run, the policy might turn out to be too costly. Secondly, smokers might find it tough to buy a no medical policy, which is a good thing if it makes you kick the butt.

You need to know that a lot of fraudulent insurance companies promise a no medical policy but do not offer the best benefits. So, you need to be wary of such companies. These incidents of fraud are higher on the Internet.

Besides the limitations, you cannot deny the fact that no medical policies are the best and often, the only option for people with preexisting conditions.