'Life insurance without medical exam' is a policy that has a new way of getting term life insurance without the hassle of having to go for a medical examination from a doctor. Insurance companies that offer this service do not ask for the client's medical records, but rather ask a few general questions that will be used to verify whether the person qualifies for a medical cover. However, since there is no medical exam, most people get the insurance coverage for a set period.
The idea of life insurance without a medical exam came about because there are people who would rather not go to the doctor for various reasons. They are given to:
- People with health complications cannot easily acquire medical coverage from established companies without a medical exam being done first.
- Older people who would like to amass some money before they die so that it would be used to pay for the funeral expenses.
- People with divergent religious beliefs that do not allow them to go to a professional doctor or any kind of doctor for that matter.
- People who need the insurance cover immediately.
- People who do not want or cannot go to the doctor's office because of the work they do that keeps them busy at all times.
When one takes on such an insurance cover, it protects them for a several years, according to what was agreed upon in the insurance contract. In addition, there are many advantages to taking on this kind of insurance.
- It takes little time to apply for and get the cover.
- Those who apply are not asked about their medical history and only give a few details, so that they can help decide which kind of cover to take.
- This kind of insurance pays out 100% of the death benefit, even if the death was caused by an accident.
- The applicants do not have to go for a medical exam that may be uncomfortable for them and even painful due to the variety of tests that would be performed.
- This kind of coverage also has a range of prices. It could be anywhere between a $50,000 coverage to a $300,000 coverage.
When purchasing it, one must be careful to do a lot of research on the companies that offer this service, to get the best rates and best coverage available. Most companies set a time limit of between 10 to 30 years, which is enough. 35 to 40-year-old people usually go for this kind of cover. Getting the "life insurance with no medical exam" cover does not take a long time, since it can take about between 24 to 48 hours to get the cover after application. Therefore, it is the cheapest and easiest form of insurance to get.
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