No Medical Exam Life Insurance

Life insurance coverage with no medical exam can have many benefits depending on individual requirements and the overall purpose of the policy. To make the best choice when deciding which life insurance policy you need, it is best to research all the advantages and disadvantages.

One advantage of obtaining no medical exam life insurance is that the time to get coverage is not as long as those policies requiring an exam. The need to see a doctor and wait on the report to be sent to the insurance provider is eliminated resulting in quicker coverage. Essentially, the process for those who decide to get life insurance without a medical examination is much faster and easier. Once the paperwork is completed, the underwriting process begins. The policy cost or premium is then calculated and issued within a few days with the coverage starting right away.

Consumers who are concerned with medical issues or death have the benefit of a short wait with a no medical exam insurance policy. For example, if you have an existing medical condition, a life insurance policy with no medical exam requirements is the ideal choice because acceptance is guaranteed. On the other hand, life insurance policies requiring extensive medical exams, doctor reviews and reports, not only have a longer processing time, but also, depending on the medical results, the premium cost may increase or the policy could be denied.

When looking for the best life insurance policy for you and your family, you want to be sure to ask questions about the coverage options. Generally, consumers should inquire about the type of policy, is it whole or term coverage, premium costs, and whether or not the quoted price will change during the term of the policy.

Overall, life insurance is essential for those who want to plan accordingly in the event of death to ensure those left behind will be able to manage expenses. It can provide peace of mind for the whole family with a simple investment. The key to finding an adequate policy that fits your personal needs and budget is to research and review the terms offered.