Have you heard about life insurance without medical exam? Every insurance company requires physical exam as part of their underwriting process when you decided to purchase a term life policy. This is a requirement in order for the company to price your policy in consistent with your health status. The insurance companies want to make sure that they remain in business by qualifying those who can get an insurance policy and being healthy is one of those.
Consistent with the changing times, term life insurance policies are now offered without any medical examination required. You do not have to go through the inconvenience of scheduling physical exams in no exam term life insurance since you will only be provided with a set of questions asking about your health. Unlike before, you would not have to have your blood sample extracted by a medical practitioner or nurse. It is designed to give life insurance coverage to individuals who are not so keen about undergoing medical exams just to have an insurance. Make sure, though, that you provide honest answers to the medical questions of the insurance company. If for example you declared that you are not a smoker yet you cannot get by a day without any cigarettes, then you run the risk of having your insurance benefits challenged in case of claims in the future.
Term insurance policies are the most common form of insurance that do not require medical exams. The terms may be in 10, 15, 20, or 30 years, may have to option for renewal, and can range from $20,000 to $500,000. This early, you should know that no exam life insurance is more expensive that standard polices because the insurance company takes the risk of insuring you by just relying on your statement that you are indeed in good health condition.
Most of those who have themselves insured in this kind of policy are the young and healthy individuals who have busy schedules and do not have the time to undergo medical exams. If you are over 50 and with a serious health condition, it is still possible to take out a no physical policy but this can be very costly. In fact, anybody can buy a no physical exam term insurance policy but they have to be aware of the terms and conditions governing this type of insurance.
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