Information on No Medical Exam Life Insurance - Is This Type of Life Insurance a Good Idea?
When applying for a life insurance policy often times the application process can seem invasive and over done! The company is doing this to make sure that you are not a potential financial risk.
In most cases this involves a medical examination to determine your current overall health.
If you fail the medical screening then more then likely you will be denied your insurance.
What About No Medical Exam Life Insurance Because your insurance company is trying to earn a profit from the people that it insures they really have no interest in covering some one who has an increased potential of early death.
But there are companies that will supply you with coverage and will do so with no medical testing required.
While these polices will offer an alternative to traditional life coverage they often come with higher premiums and lower coverage amounts.
Although there may not be a medical screening you will be asked a series of questions when you apply for one of these insurance polices.
Failure to give honest answers could result in your policy being changed or canceled if they later find out you were lying during the application process.
No medical exam life insurance polices will often not pay out any death benefits for the first 12-24 months of the policy.
This is put into place to protect the insurer and their bottom line.
While they do offer some sort of financial protection no medical exam life insurance polices should be shopped for carefully and you should fully understand what you are buying.
There are a lot of companies that take advantage of people who need this type of policy so when shopping for your insurance be sure and stick to the good old advice of, if it sounds to good to be true it probably is.
In most cases this involves a medical examination to determine your current overall health.
If you fail the medical screening then more then likely you will be denied your insurance.
What About No Medical Exam Life Insurance Because your insurance company is trying to earn a profit from the people that it insures they really have no interest in covering some one who has an increased potential of early death.
But there are companies that will supply you with coverage and will do so with no medical testing required.
While these polices will offer an alternative to traditional life coverage they often come with higher premiums and lower coverage amounts.
Although there may not be a medical screening you will be asked a series of questions when you apply for one of these insurance polices.
Failure to give honest answers could result in your policy being changed or canceled if they later find out you were lying during the application process.
No medical exam life insurance polices will often not pay out any death benefits for the first 12-24 months of the policy.
This is put into place to protect the insurer and their bottom line.
While they do offer some sort of financial protection no medical exam life insurance polices should be shopped for carefully and you should fully understand what you are buying.
There are a lot of companies that take advantage of people who need this type of policy so when shopping for your insurance be sure and stick to the good old advice of, if it sounds to good to be true it probably is.