No Exam Life Insurance

noexLife insurance is an important part of the families financial planning for the future.  It’s recommended that those who are the family breadwinners, the young, seniors and those who are single or married carry life insurance to help with the unexpected loss of income when someone passes away.  There may be a mortgage still to be paid, tuition for school children, final medical expenses and funeral expenses.  Life insurance benefits can help with all these obligations and more.

There are no exam life insurance policies available in addition to the life insurance policies which are medically underwritten.

If you do not want to go through the hassle of taking an insurance physical to qualify for a  medically underwritten policy then you may want to consider the no exam life insurance policy.  The insurance providers find health information for the no exam policies from other sources such as the Medical Information Bureau which stores medical records.

You need to keep several things in mind when shopping for your life insurance.  You want to purchase the maximum amount you expect to need for the future while keeping premiums at a price point you can afford.

The medically underwritten policy is usually less expensive than the no exam policy since the risk to the provider is probably not as great.

Insurance premiums can vary with different companies so get several quotes and make a comparison before making your decision.

Be sure to check what restrictions the provider may impose on your policy.

You can choose either a term policy or a whole life policy.  As the name indicates a term policy will be in force for a specific period of time.  This type policy may be a good choice if you want to cover a specific financial obligation that will be eliminated at a date certain such as a mortgage.

The whole life policy continues for your lifetime as long as premiums are paid.  Many of these policies accumulate a cash value.

Whatever type life insurance you select from a reputable insurance company can provide you and your family added peace of mind and a sense of security.