Life Insurance No Medical – The Benefits

Life insurance is an extremely essential safety net that you provide for your family. Although very important, it comes with certain hassles, the biggest among them being medical examinations. In order to ensure that you are in good health and to convince them that you are not a “high risk” customer you need to undergo a battery of test. If you want to avoid these examinations, you can opt for life insurance no medical.

Why is a medical exam such a hassle?

Medical exams take time. This is only one of the criteria here. There is another other very important thing that needs consideration. When you undergo a medical examination, several minor health issues might be revealed. Life insurance companies pay a great deal of attention to these. Before you are found eligible you need to correct these health issues. This takes time and you cannot have life insurance in the meanwhile.

For instance: if you are found overweight you are required to shed those extra pounds. If problems such as high cholesterol levels are found, you need to change your lifestyle and food habits in order to reduce the cholesterol levels in your body. There are several other changes that you might have to undergo before you are found eligible. A good way to avoid these problems is to buy life insurance that is available with no examinations.

People with inherent diseases find it almost impossible to obtain a life insurance policy. For these people, medical tests are a major hindrance. The very purpose of offering life insurance no medical is to enable people with preexisting conditions to buy a life cover.

Ff you suffer from a phobia towards needles, doctors and hospitals, you don’t have to face your fear when you buy a no medical insurance.

The major advantage of a no medical insurance policy is that they become active very quickly. Conventional policies require around four to six weeks to become active. These policies are activated within a couple of weeks.

How to find life insurance no medical?

The good thing about these life insurance policies is that they are available in all forms such as term life and whole life. You have a good choice. However, there are certain aspects that you need to keep in mind.

  • Since medical tests are not required, the cost of the policy can be very high. It could be several times higher than policies that require medical examinations. If you are in good health and weight or cholesterol is your only concern, it is more economical to opt for policies that require medical tests.
  • The costs of policies vary from one insurer to another. Check out various options, request quotes and choose the policy that offers good coverage with affordable rates.
  • Online insurers usually offer life insurance no medical. Before you buy from such an insurer, check out the details, registration, license and other authentication documents of the company.
  • You need to understand that many of these “no medical” policies are not “guaranteed acceptance” policies. So, if you are a smoker, alcoholic or visibly obese, there is a good chance that your application maybe turned down. The policies might not be offered to the elderly.

Despite these limitations, a policy that does not require medical examination is very convenient, provided you are ready to bear the costs. For people with preexisting health conditions, this insurance is your best bet.