Term Life insurance shouldn’t be looked at as an option it should be considered a necessity. It should be something that is held by everyone, especially people who have dependents. It is because of the importance of it that if you are looking at the options that are open to you when it comes to life insurance you should speak to a professional advisor.
There are so many forms around today that it is important that you choose the right one. This is why I feel that you should seek professional advice before diving straight into the first policy that you see. Some of the main forms of life insurance that will more than likely be suggested to you are whole term and of course no medical. All of these policies have their own qualities so depending on what you are looking for from your insurance plan depends which policy you opt for. One of the most sought after life insurance plans at the moment however is the no medical life insurance plan.
As the name states, you do not require a physical examination when you are taking out your no medical exam term life insurance policy. Instead you merely answer a few questions based on personal details and your medical history but of course as with all policies there are certain exceptions as to who can apply for the policy. In the case of a no medical plan you won’t be excepted if you have any form of serious illness, if you lie in your application or if you are over 50 years of age. Anyone who is relatively young and in a general good bill of health however should have no problem when it comes to applying for a no medical policy. There are however certain aspects that could affect the price of your premium.
When you fill in your online application you will be asked questions such as do you smoke and what your weight is. These are two prime examples of aspects that could affect your plan as if you are a smoker or overweight you are considered to have more health risks and as a result you will be paying a higher premium price than someone who doesn’t smoke or who is at their ideal weight.
Because of the fact that you don’t require a physical exam you are considered to be an increased risk. This is because the insurance company doesn’t no what medical condition you are in when you apply so you will end up paying more for your premium.
Remember you don’t have to be in perfect health to apply for a no medical life insurance plan, you just have to be in generally good health. Even if you are unsure whether you qualify for this insurance plan you can still apply as you will be informed whether you are able to take it out once you have completed your online application. You will be informed whether you qualify for it within ten minutes so even if you are unsure as to whether you will be allowed to take it out it is defiantly worth a try.