Term Life Insurance Q&A
- Why should I choose BeyondQuotes?
- Which companies do we represent?
- Is BeyondQuotes licensed where I live?
- Is my information confidential?
- Do you only offer rate quotes?
- How do we choose which companies to represent?
- How much Term Life Insurance do I need?
- What are "level" policies?
- What should be the term length?
- Is it worth insuring my spouse on my policy?
- Can you explain the difference between Term and Whole Life plans?
- I suffer form a pre-existing condition. Can I still be insured?
Applying for a Policy
- How do I apply for Term Life Insurance?
- How do I find the best value plan for my needs?
- What is the waiting period between applying and coverage?
Advantages of Medical Exams in Missouri Term Life Insurance Applications
Medical exams are an important component of Missouri term life insurance. If an applicant enjoys good health and the age factor is on their side, taking the test could be a cakewalk for them. If all goes well, it can also mean lower premiums. This is because if an applicant is at the peak of their health, the risk factor is significantly reduced. Insurance companies don’t expect the applicant to meet an early demise because they are young and so are happy to offer term life coverage Missouri plan at a cheaper, more favorable rate.
Reviewing the Medical History
Before the test, insurers might ask the person many questions about his lifestyle, prescription drug use and medical history. Some companies request it only if they find information to be inaccurate or doubtful in nature.
An insurance company usually asks an applicant, if they:
- have a history of some serious illness
- are on any prescription drug
- are over a certain age
- smoke or drink heavily
- are asking for a higher coverage.
Consider these points:
- The application can be rejected due to a specific health condition. This could have repercussions on your future insurance applications too.
- The exam can bring to light any symptoms of a serious health ailment.
- It may discover a health condition which he or she was not aware of in hand.
Exams are not always necessary
Some companies issue the policy without taking a medical exam. These companies may ask about lifestyle habits and past history, but nothing too serious. However, in this case, life insurance companies may set the premium level quite high, depending on the information being provided by them.
Some policies are designed such that they can be issued without asking any questions whatsoever. These policies are usually more expensive and provide lower levels of coverage.
A no-exam insurance policy is not a way to get coverage without disclosing the health issues. The policy can be annulled if the information provided is false or incomplete.