Most of the times, while
searching online to get a life insurance policy to fulfill
your needs, you would have come across through many
advertisements propagating life insurance with no medical
exam. And often you feel that these advertisements are
trying to rip you off. Well, it is absolutely possible to
get life insurance without giving any medical examination.
There are few options provided by the insurance companies
which are only a click away on your computer. Only the thing
you are required to do is you have to check yourself the
terms, conditions and eligibility criteria suits you or not.
To obtain life insurance without any medical examination,
you have to answer a set of questionnaire regarding your
age, gender along with the online application for proposed
insurance plan. You are also required to submit the facts
regarding your health status and information about your
medical history if any. After submission of this
information, the online agent of the insurance company will
assess the answers and information to the questionnaire and
decide whether or not you are eligible to get life insurance
without having medical exam.
Although it is not certain and no one can assure you about
your eligibility regarding this policy, you do need to be in
perfect health and young to avail the same. Normally people
who are young and healthy can easily qualify for life
insurance no medical exam. And remember one thing, while
submitting the information or answering the questionnaire
about your health always tries to remain truthful and
honest. If you try to give false or wrong information and
thus try to mislead the insurance company; then this reason
is enough of the life insurance company to deny you the
coverage.
Once you have completed the formality of submitting answers
and if you are happened to comply their conditions and so
becomes the eligible applicant for life insurance no medical
exam then the further procedure is quite simple. You can pay
for your insurance premium form your credit card using
online transactions and get the printed copy of your
insurance policy without medical exam for your records.
When you surf the net to purchase life insurance without
medical exam and if you are eligible for it then prior to
choosing the appropriate life insurance plan for you, you
are needed to be much more educated regarding life insurance
plans. Generally all life insurance policies are classified
into two different categories.
1.Standard Life Insurance – Also known as permanent
life insurance plans, these packages offer the coverage for
the whole life of the insured person. As the coverage is
meant for life long time, usually the premiums of such
policies can be high as these may continue till the death of
insurer.
2.Term Life Insurance – this is also known as
temporary insurance plans. As the name implies, these
policies are meant for short term coverage. These policy
normally offer a coverage which expire after a set term of
5, 10 or 20 years. The premiums you are required to pay for
these policies can be low as death is not certain during the
policy term. Hence term purchasing term life insurance can
be a less expensive process compared to the standard ones.
Most of the times life insurance with no medical exams
offered come under term life insurance policies. Hence, most
of the times, these no medical exam life insurance plans are
less expensive with a premium around 300$ per month for a
coverage of 1,50,000$ for a term of 15 years!
The rates offered by such no medical exam life insurance
policies remain constant throughout the duration of the life
insurance policies. This gives you a tremendous benefit as
while the policy is in effect, and in case your health start
deteriorating or you fell sick there is no way the insurance
company can increase the premium or alter the amount of
coverage offered. So once you are qualified for life
insurance without medical exam then in case of sickness
these policies have edge over the others.
Another type of insurance policy you can obtain is
guaranteed issue individual life insurance policy. Often
marketed to the elderly or overage persons, any one can get
insured without even answering the questionnaire and without
giving any medical exam. These are short form life insurance
policies that are designed to arrange the funeral expenses
policy.
The premiums of such policies are usually high. As
guaranteed issue life insurance policies don’t consider
medical information to set the premiums, these plans are
more expensive to purchase. Because the rates are rather
high, the coverage offered is low; these policies are often
used to supplement the existing one rather than to serve as
the basic insurance option.