What Is So Good About the No Medical Exam Life Insurance Policy?

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Most insurance providers require the results of a medical exam to determine the health status of an applicant. A medical exam seeks to get blood & urine samples, blood pressure, height and weight. For those who have a problem undergoing a medical exam, perhaps due to personal or religious reasons, this insurance plan offers a better alternative. Furthermore, if you have a health issue that you feel is likely to hold you back from getting approval, contact an insurance company that provides the no medical exam life insurance policy. Nevertheless, the secret lies in finding the right insurance carrier to secure a plan with. These policies are pain-free and have a speedy turnaround time. Some of the issues with the plans include:

Setbacks

Insurance carriers can be extremely strict about background history, medical conditions and the age of the applicant. Furthermore, many of the insurance providers place a limit of the amount of insurance coverage an applicant gets, often ranging between $25,000 and $450,000, depending on the provider. Therefore, if you are interested in providing adequate financial support for your loved one, such a plan may not be right for you. However, if you have to have it, you may have to buy two or more covers from different companies to get a large face amount. In addition, the plans are more expensive compared with the medically underwritten plans. This is because insurance providers tend to take on more risks when they offer insurance coverage to an individual without first finding out their health status.

Benefits

There are many benefits attributed to buying this insurance policy. First, you avoid the needles, because no medical exam is required. Secondly, the plan provides the benefit of a hassle free and speedy approval time. Therefore, it is not uncommon to receive feedback within 24 hours, and sometimes in a matter of 10 minutes upon submitting your application form. The majority of insurance providers allow applications to be made online or via the telephone. The plan also makes a lot of sense if you have not received a medical exam in a long time, which means you have no idea of the status of your health, but need insurance urgently.

Company

The importance of buying the right plan cannot be overstated. Therefore, it is advisable to shop around and compare quotes from different insurance company in order to get the right plan at competitive rates.

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