No Exam Life Insurance
Benefits of Life Insurance with No Exam
Having a good life insurance policy behind you is becoming more and more essential nowadays. In case if anything happens with the main breadwinner in the family, a solid life insurance policy will take care of the family's expenses for quite some time onwards. Being insured is the least you can do for your loved ones.
What is "life insurance with no medical exam"?
The general rule is that very few insurance companies will sell you life insurance without a medical exam. The reason for that is the companies want to minimize their risks: if something happens to you, they will have to pay. As a result of that the insurance providers prefer that their customers undergo thorough medical examinations every once in a while.
A no-exam life insurance can be called a borderline option where both the insurer and the insured are happy. With a no-exam plan the premiums are a bit higher than usually, but you can get a policy really fast. There are more pros an cons to getting a no exam life insurance plan, but the rule of thumb is "go for it if you're in a hurry".
You need to remember though that the insurer will still ask you a bunch of health-related question. Some of the questions may concern drinking alcohol or smoking, others may deal with your family health history.
Depending on your answers the agent will outline your life insurance cost. You need to remember that answering any personal questions is absolutely voluntary. Generally, life insurance with no exam is a very laxed procedure: it's fast and easy to get.
If you ever get stuck or have questions, consult the following Facebook communities - you can get your answers from life insurance enthusiasts literally on the go:
http://www.facebook.com/lifehappens.org
https://twitter.com/clhia (for Canada)