The Best Life Insurance Options In Your Area

The Different Types of No Exam Life Insurance That Are Available

Types of No Exam Life InsuranceMany people choose not to get a life insurance policy for a variety of reasons. Some consider life insurance too expensive, don’t have time to purchase a policy, or suffer from a health issue that would normally be reason for disapproval. Recent statistics show that over 40 percent of the population is either uninsured or doesn’t have enough coverage. If you have been planning to get life insurance, but one of the reasons above is stopping you, you should know that there are many types of life insurance out there, and you have a big chance of finding one that you can qualify for. You might think that you don’t need life insurance or that your application will not be approved because you have a pre-existing medical condition, but you might be pleasantly surprised once you start doing some research and start shopping around for a life insurance policy.

For those who don’t want to get a medical exam because they suffer from an illness that might endanger their approval chances or for those who simply don’t have the time and patience to go through a series of medical tests, there is good news. A large number of insurance companies are offering no exam life insurance policies. This type of insurance is different from traditional life insurance and might be the answer for those who want life insurance but don’t want to go through the traditional process of getting it.

What is No Exam Life Insurance?

Similar to traditional forms of life insurance, like whole and term life insurance, no exam life insurance is a type of insurance that pays a death benefit to the beneficiaries when the person who took out the policy dies. The main difference between no exam life insurance and other types of life insurance is that a no exam life insurance doesn’t require you to complete a medical exam in order to be approved for coverage. Both healthy people and those with pre-existing medical conditions can qualify for life insurance.

Another difference between this type of coverage and more traditional types of insurance is that no exam life insurance has a very fast approval process. Usually, getting approved for no exam life insurance takes a few days, but some insurance companies can get you approved in as little as 24 hours. This makes it ideal for those who need life insurance coverage right away, especially since the application process for whole and term life insurance takes much longer, sometimes up to 8 weeks.

However, because the insurance companies who offer no exam life insurance don’t require you to get a medical exam, they face more risk, so no exam life insurance coverage is more expensive than whole and term life insurance coverage.

Types of No Exam Life Insurance

There are 3 types of life insurance for people who want to avoid completing a medical examination. Some of the features of these types of no exam life insurance make them different from one another, but they all have a very important aspect in common: none of them require a medical exam.

  1. Simplified issue life insurance. This type of no exam life insurance can be acquired by simply answering a few yes or no questions on a form that will be reviewed by the insurer. Along with this form, the insuring company will also review the applicant’s medical history and prescription records. Based on these documents, the insurer will decide if the no exam life insurance application is approved or denied. Simplified issue life insurance can sometimes be obtained after speaking to an insurance agent on the phone or online, and the coverage starts shortly after the application is submitted.
  2. Guaranteed issue life insurance. The most popular form of no exam life insurance, guaranteed issue life insurance doesn’t require the applicants to answer any questions regarding their health. Almost anyone can get this type of insurance. The coverage starts right away but, because the insurance company takes on a lot of risk by insuring someone without even asking a few questions about their health, the cost of guaranteed life insurance will most likely be higher.
  3. Graded benefit life insurance. With this insurance plan, the applicant will be asked a few basic questions about his or her health. The difference between this type of coverage and the other two type of no exam life insurance is that graded benefit life insurance doesn’t give out the full death benefit if you pass away in the first few years after getting the policy.

Locating Insurance You NeedAll types of life insurance with no medical exam will cost more than traditional life insurance policies. Qualifying for a traditional life insurance requires that you go through a thorough medical exam, which will determine the state of your health and life expectancy. The insurance company uses the results of the medical exam to determine how big of a risk you are, and adjust your premiums accordingly or, in some cases, deny your application. By not requiring medical examination prior to giving out an insurance policy, companies that offer no exam life insurance expose themselves to a greater risk of losing money.

No exam life insurance is great for people who can’t otherwise qualify for traditional life insurance, for those who don’t want to go through a medical exam, or for those who are in a hurry to get life insurance. If you don’t fall into one of these categories, traditional forms of insurance will be generally more beneficial to you. But if you have come to the conclusion that a no exam life insurance is right for you, getting a no exam life insurance policy is a legitimate way of protecting yourself and your loved ones.

How to Find Cheap Life Insurance Rates and What to Look Out For

Finding Cheap Life InsuranceLife insurance provides great benefits for you and your family, while giving you peace of mind that, if anything happens to you, your loved ones will be taken care of. While life insurance is very useful, you shouldn’t just purchase a policy blindly, without knowing your options and what type of coverage is more advantageous for your situation. When it comes to insurance, more expensive doesn’t necessarily mean better. There are cheap options out there if you know what you need and where to look for. If a life insurance policy is cheap doesn’t mean that you’ll get less coverage than by going with a more expensive product. It just means that you have done your homework and found the life insurance policy that is right for you without paying a fortune for it.

When shopping for a life insurance it’s all about the research. You need to find out what type of coverage you are looking for in order to avoid getting a policy that has features which you’re not going to use. After deciding on what kind of insurance policy you need, it is time to do a little research. When researching insurance policies, you not only have to research the product that is being offered, but also the company that is offering it. Like in most industries, there will also be people who will try to scam you, either through fraud, or by simply using the laws to their advantage.

Tips to Finding Cheap Life Insurance

The reason you are looking for cheap life insurance is you want to save money. You can find cheap insurance in many places, but making the difference between good cheap insurance and bad cheap insurance is what matters. Buying something just because it is cheap doesn’t usually go well, but buying something cheap that you have researched will ensure that you don’t end up having to deal with unpleasant surprises later on. Here are a few tips that will help you find cheap insurance.

    1. Decide between term life insurance and whole life insurance. Term life insurance is much cheaper than whole life insurance, but it isn’t necessarily the best choice. Term life insurance covers you for a predetermined period of time and, if you don’t pass away before that period is over, the insurance company keeps your money. Whole life insurance covers you for as long as you keep your insurance policy and pays your beneficiaries once you die. While it is more expensive than term life insurance, whole life insurance also has an investment component which can make the price difference between the two much smaller, or even provide greater savings.
    2. Research a company before getting insured by it. You wouldn’t want to be the victim of an illegitimate company, so make sure that you know who you are getting a life insurance policy from. Besides checking online for customer feedback and reviews, you can also check the insurance company through A.M. Best, an organization that reviews insurance companies and provides ratings.
    3. Consult with the company that is currently providing you with homeowners insurance or car insurance. If you work with a company that offers other types of insurance and you are satisfied with their pricing and service, find out if they offer life insurance, as well. You might be pleasantly surprised that they offer discounts for those who use some of their products already. So you will not only get a life insurance policy for cheaper, but also work with a company that you already trust.
    4. Don’t be too impressed by an insurance company’s hype about its customer service. State and federal law require insurance companies to treat you in a certain way, so you can be sure that a company that isn’t advertising how well it treats its customers will also treat you well.
    5. Maintain a healthy lifestyle. Eating right, not smoking or drinking, and exercising regularly can make a huge difference on what the results of your obligatory medical exam will say. Good test results mean that you are a lower risk, and you will get better rates than someone who has a pre-existing condition or not so favorable medical test results. Even if you already have life insurance, switching to a healthier lifestyle will allow you to reapply in order to get more favorable rates.
    6. The Cheapest InsuranceDon’t engage in dangerous activities. Insurance companies tend to avoid giving out life insurance policies to people who have dangerous hobbies, like flying planes, skydiving, scuba diving, rock climbing or other activities that may put your life in danger. Even if the insurance company agrees to insure you, your premium payments will be much larger than normal, so saving money on life insurance might mean having to give up some of your dangerous hobbies.
    7. Be honest about your health and activities. The temptation to hide something from the insurance company and get cheaper insurance may be high. In case there is a claim, the truth will come out and the insurance company won’t give too much to your beneficiaries. Insurance companies work with a large number of people and have years of experience, seeing all kind of ways in which people have tried to hide some of their health issues, so lying to them is a very bad decision which will most likely result in losing money instead of saving it.

Finding cheap life insurance is entirely possible and very easy to do, but only if you are prepared to do the proper research and take the necessary precautions. Being in a hurry to save money will almost always lead to spending more than you planned, so take the time to find out what you are looking for in a life insurance policy and which insurance company will best satisfy your life insurance needs.

No Exam Life Insurance – What You Should Know

No Exam Life InsuranceLife insurance is something that most people will consider at one point in their lives. Having life insurance gives you peace of mind that, if anything unforeseen happens, your beneficiaries, who are usually members of your family, will receive a large monetary compensation. Life insurance comes in many shapes and sizes, so finding one that suits your needs requires some research. Some life insurance policies offer more benefits than others or may have increased risk, so finding the perfect one for you is very important in order to avoid problems with your policy later on.

Life insurance is not expensive, but it isn’t cheap either, so making sure that you can afford it should be your top priority when shopping around for one. Besides not being able to afford life insurance, some people may be discouraged from buying a life insurance policy because of the medical exam. Going through a medical exam is time consuming, or something that some people want to avoid going through for various reasons. If you are one of these people, the good news is that there are plenty of insurance companies out there who offer no exam life insurance policies for healthy individuals (Read: The Basics of Obtaining Life Insurance With No Medical Exam).

Who is No Exam Life Insurance For?

One of the largest inconveniences of getting life insurance is the medical exam. Many insurance companies have realized this and started offering no exam life insurance policies for those who don’t want to go through a medical exam prior to getting insured. This way, both the insurance company and the person who is looking for life insurance benefit. Those who otherwise didn’t have time to take the medical exam or had other reasons not to do it can now get life insurance, as well.

However, a big misconception about no exam life insurance is that anyone can get it. Insurance companies are exposing themselves to a high risk of losing money if they give out life insurance without digging into a person’s medical records and history. Only people who are healthy may qualify for no exam health insurance. Before you are able to buy a no exam life insurance, you will be asked a series of questions about your health, and you will have to provide documentation from your doctor and pharmacy.

No exam life insurance is designed for those who want to avoid the medical exam but, because of that, this type of insurance has its negatives. Here are a few situations in which someone may consider no exam life insurance:

  • You haven’t visited your physician in several years. Normally, when getting life insurance, you will have to go through a series of tests which will be the deciding factor in whether you will be allowed to purchase a life insurance policy or not, and what kind of benefits you qualify for. Many people think they are very healthy, they may look healthy, but tests may say otherwise. A good choice would be to purchase a no exam life insurance policy before applying for traditional coverage, in which case you and your family will still be covered if your application is denied.
  • You need life insurance quickly. All the tests and the approval process for traditional life insurance can take up to two months. If you choose to go with a no exam life insurance policy, you can be covered in a few days instead of months. You might want to go on a trip in the near future and simply cannot wait until the approval process for traditional life insurance to be over, in which case no exam life insurance is your best bet.
  • You simply hate going through a medical exam or don’t have time. Medical exams generally involve being poked with a needle, something which some people will like to avoid. Getting a no exam life insurance will also help those who don’t have the time to go in for a medical exam.

Pros and Cons of No Exam Life Insurance

Like any other form of insurance, no exam life insurance policies have their pros and cons. Here are some of the advantages of taking out a no exam life insurance policy:

  • Applying and being approved for no exam life insurance is easier. Compared to traditional life insurance, applying and getting approved for no exam life insurance is a breeze. There is very little paperwork involved when applying for this type of insurance and you don’t have to go through a medical exam to get approved.
  • You can get coverage very quickly. Applying and being approved for traditional mortgage can take up to a couple of months, while the application process for no exam life insurance only takes a few days.
  • Giving out no exam life insurance also benefits the insurance company. Not having a medical exam requirement helps insurance companies who offer no exam policies save a significant amount of money.

While no exam insurance has its advantages, especially for those who don’t like to go to the doctor or have a minor health problem, there are several disadvantages to this type of coverage.

  • Higher cost than traditional life insurance. Not knowing exactly how healthy you are puts the insurance company at great risk. Therefore, the cost of no exam life insurance will be higher than the cost of a life insurance which requires a medical exam.
  • You miss the chance of getting a free and thorough medical exam. Getting traditional life insurance means that you get a medical exam free of charge. This medical exam gives you a chance of finding out if you are suffering from a serious illness.

No exam life insurance certainly isn’t for everyone, but it does have its place. If you are certain that you cannot get a traditional life insurance policy or if you don’t want to go through the medical exam, than this is your best choice, but you should keep in mind that, while no exam life insurance has its benefits, the downsides are also to be taken into consideration.

The Basics of Obtaining Life Insurance With No Medical Exam

No Exam Life InsuranceMuch of the time, while searching on the internet to find a life insurance policy that meets your requirements, you have probably come across many ads propagating life insurance without a medical exam. And frequently you may believe that these ads are attempting to rip you off. But really there are many legitimate options supplied by insurance firms that are just a few key strokes away on your computer. All you have to do is check out the terms, conditions, and qualification standards to see whether or not they suit you.

Insuring Your Own Life Without Obtaining a Health Examination

To get life insurance with no health exam you need to answer some questions in regards to your actual age, gender, and lifestyle on the on-line application for an insurance plan. It is also necessary for you to submit the important points regarding the status of your health and info about your own medical record. After receiving this personal information, the on-line broker of the insurance firm will evaluate the responses and data to determine whether or not you’re qualified.

Though it’s not guaranteed and no one can say for certain how your qualifications align in regards to this plan, you do have to be young and in perfect health to obtain it. Normally individuals who are healthy and young are qualified easily for life insurance with no health exam. Just remember that while turning in the info or responding to the survey about your own health you should constantly attempt to stay true and honest. If you attempt to provide false or incorrect info, and thereby make an effort to lie to the insurance carrier, then this is reason enough for the insurance carrier to refuse you any coverage.

Once you’ve finished the task of turning in your answers and info, and if you are recognized to be a qualified candidate, then the next process is fairly straightforward. You must accept the policy and then start paying for it. It is possible to cover your insurance premium with your credit card utilizing online transactions and receive the hard copy of your own insurance plan for your records, all without clinical examination.

Insurance Plans to Contemplate

Whenever you are browsing the web to buy insurance and you may come across all kinds of plans that sound good to you. But how do you know which is the best? Before you fill out any applications you need to be much more educated about the plans. Broadly speaking, all coverages can be grouped in to two distinct types.

Standard Life Insurance

Also referred to as permanent insurance policies, these bundles provide insurance for the entire life of the insured individual. Since the coverage is intended to last the full life of the individual, generally the premiums of these policies will be relatively high because they have to keep on until the passing away of insured.

Term Life Insurance

Searching for No Exam Life InsuranceThis can be also referred to as temporary insurance coverage. As the name suggests, these plans are intended for short-term coverage. These policies ordinarily give you a coverage that expires after having a fixed period of five, ten, or twenty years. The premiums you are expected to pay for these coverages should be low since you might not even die during the policy period. Thus buying term life-insurance could be a less costly process in comparison to conventional plans.

Term life is probably the most popular type of life insurance. The premiums supplied by these plans stay steady through the entire length of the plans. This provides you with a huge advantage whilst the plan is in force, and just in case your health begins declining or you fall ill there’s no means by which the insurance provider may raise the premium or change the quantity of insurance supplied. This is a huge edge over other type of life insurance plans.

Guaranteed Issue Insurance

Those are the two main types of insurance, but there are plenty of other smaller policies available. Another kind of plan is the guaranteed-issue individual coverage. Though it is usually advertised for overage or elderly individuals, anyone may get insured without answering the survey and without going through a medical checkup. Guaranteed issue is a short form policy which was designed to pay for the funeral costs.

The premiums of said policies are typically high. Since guaranteed issue policies don’t consider medical advice to establish the premiums, these policies are costlier to buy. Since the premiums are fairly high, the coverage provided is lower. These coverages are usually utilized to supplement an existing plan as opposed to functioning as the primary insurance.

No Health Exam Life Insurance – Pros as Well as Cons

As mentioned previously, you will find several kinds of life insurance without medical exam. The conditions and terms of the policies may vary from each other. Therefore, you have to do you research on diverse life-insurance policies within each group before picking the one which is better suited to you personally. It’s time to have a look at the pros and cons of no health examination life-insurance plans.

As the name implies, there isn’t any medical assessments or exams in this sort of insurance plan. This makes these plans appealing to individuals who dislike going in for health checkups, those without free time, or those who possess some sickness that might be a reason for companies to refuse their application. Other benefits include being able to apply for all of these policies on the web and the quick turnaround time (usually a couple days at most) of the application form process. Whenever you send in an application for such coverages, you will be given a life-insurance quote from the firm with all the information about the coverage. It’s your choice to receive or refuse the plan.

Happy About No Exam Life InsuranceAlthough there’s absolutely no medical exam required, occasionally it may be necessary for you to verbally reply to some questions in regards to your wellness and health while trying to get no health exam life-insurance. In some instances, it may be necessary to fill out a health questionnaire form after two or three years of obtaining the coverage. Yet another disadvantage of no medical examination life insurance is the fact that you simply must pay greater premiums, because the insurance risk related to these kinds of coverages is quite high. Some of those plans have conditions which could strip you of the benefits after a lapse of a particular interval. Many of these only offer graded benefits at first. What this means is that the beneficiaries can only get a portion of the death benefit if the policyholder dies in the first couple of years.

In a nutshell, life insurance without any kind of medical exam could be favorable for anyone who cannot get conventional coverages as a result of health conditions or age. If you need to turn in an application for this kind of life insurance, look through the many kinds of no medical insurance and comb over their conditions and terms thoroughly before picking the appropriate one.