Is No Medical Exam Life Insurance Right For You

A no medical exam life insurance policy offers many benefits, but this coverage can have drawbacks as well in some cases. How can you determine whether this type of life insurance coverage is right for you? First you must understand exactly what this type of coverage is, and what it involves. A no medical exam life insurance policy is life insurance which does not require any medical examination or physical, and there is also normally no invasive testing such as blood tests or urine tests involved. Instead you will answer a health questionnaire, and the answers you give are used to set your life insurance rates. Normally these questions include age, weight, tobacco use, and medical history questions. It is important to answers these honestly, because lying or leaving out relevant information could cost you the premiums paid when the deception is found and the policy is voided. The premium costs for these policies may be more than other types, because of the convenience and lack of medical verification. One situation where this type of life insurance may be ideal is if you are scared of doctors or needles, which are common phobias. If this is your situation then this policy type may be the best possible choice.

A no medical exam life insurance policy also has the benefit of no waiting periods. With some types of policies you may have to wait months before your coverage starts. You must apply for the coverage, wait for your application to be processed, then have a physical and extensive testing done. The results must be received by the life insurance company and then a premium rate must be determined before the policy is crafted. Once the policy is actually written, it must be mailed to you. Once you receive the policy you must sign it, and return it with the first premium payment. Until the signed policy and the premium payment is received by the life insurance company you are not covered. A no medical exam life insurance policy does not involve any of these delays, so you get the coverage you want without having to wait for it.

Purchasing a no medical exam life insurance policy means coverage within the hour, and usually sooner. All you have to do is to go online and run a quick search for quotes for this life insurance type. Fill out the application, which will include the questions you need to answer. Your application will be quickly processed, and you will get a premium quite within minutes usually. After you choose the no medical exam life insurance company and policy which is right for you, you simply accept the policy and electronically transmit your first premium payment to the company. You then print out the certificate of life insurance coverage. The entire process usually only takes minutes, and you will get coverage almost instantly, with no hassles, wasted time, or invasive exams and tests. This can be a good choice for you if you want coverage now, instead of months from now, because you do not have to go through many of the traditional steps in getting coverage.