A cheap life insurance with no medical exam policy provides life coverage without asking for a complete medical examination. Such policies are very useful for people who are suffering from a terminal disease and for seniors or other people who are in a bad health state. It is not recommended to buy a policy without a medical examination, if you can get traditional coverage!
Is it possible?
It is normal to look with suspicion at these policies. Many people do not understand how can an insurance agency make a profit by selling insurance to almost everyone. In reality, it is much simpler than it looks. In order to make these policies profitable, insurance agencies will increase premiums and reduce coverage. The coverage is limited to $250,000 in most cases, and it is also temporary, which means that it will expire, so it is less likely that the insured will die during the policy’s term. Also, keep in mind that most agencies will ask you to complete a questionnaire, which excludes some people from a no medical exam term life insurance policy. You will not be considered eligible if you are suffering from some types of cancer or AIDS, however there is little to no age limit restrictions.
These policies can be very expensive, so make sure you find an affordable term life insurance quote.
What can you choose from?
Unfortunately, you do not have many policies to choose from. The list with policies that offer life coverage without requiring a medical examination is small:
- Guaranteed Issue. People who are facing huge health risks, should look for this policy. This policy guarantees a benefit as long as you continue paying the premiums. The coverage is pretty small (between $10,000-$50,000), but they do not ask you any medical questions.
- Final expense life insurance. This policy is issued for small amounts and it is best used to cover your funeral expenses. It offers permanent coverage and it doesn’t require a medical examination.
- No medical exam required term life insurance. This policy is the most advantageous because it offers a bigger coverage, but you need to complete a questionnaire before you can be eligible. The questionnaire can prevent you from getting coverage if you are suffering from terminal diseases.
Since no exam life insurance policies are expensive, it is important to find an affordable term life insurance quote. The safest and simplest way to do that is to visit our website!