No Medical Life Insurance Policies-A Few Relevant Facts One Should Know About   by David Livingston

in Insurance / Life Annuities    (submitted 2011-10-25)

Life insurance no exam is a unique policy that has many pros, but all these are overshadowed by the only con side it has. However, before we go into that let us have a look at the salient features of the policy. They are as follows
• Generally, all life insurance policies require you to undergo a paramedical test; but as the name suggests, the no exam policies exempt you from that.
• Most other policies take four to six weeks to finish all underwriting process. On the other hand the no exam policies complete the job in no time and you may have coverage within twenty-four hours.

If you want instant coverage, the life insurance no exam policies are the ideal choice. But you have to understand this: these policies are very expensive. Despite their higher rates these are only term life policies and therefore they don't provide you any return unless you die with the valid period. First you decide on the coverage amount before buying the policy.

If you want instant term life insurance coverage you must prepare yourself to pay at a higher rate. Start the purchase process by going online to look for its quotes. You not only get such life insurance quote on line, you can complete the entire procedure online if you wish. The purchase procedure is hassle free. Decide on the appropriate coverage amount and term, fill up an online form and hit the submit button. If you qualify, you will start getting the coverage from the next day itself.

Whole life policy such as the graded life also provides the coverage without asking you for any medical test, but that is all together a different policy. The main differences between the two are as follows:

• Under the life insurance no exam policies you need to answer some health questions, but for the graded policy you don't have to do even that.
• The coverage under the graded policy is guaranteed, but no exam policy requires you to qualify.
• If you qualify, the no medical policies provide coverage for the full amount and that too for death due to any reason. Under graded policy, the full coverage is applicable only after two years.

Both these no medical life insurance policies have their own pluses and minuses. So you first decide which one will be suitable to you more. The term life no exam policies are naturally more affordable than the graded policies. However, to to know exactly the difference in price, you should compare quotes first.

The process of purchasing insurance always begins with receiving quotes. These quotes are just estimates. The actual price can be little different. However, to make sure that they do not too much of variations, you should always provide accurate information in a quote form. Receiving life insurance quote on line takes a very little time; but you should never hurry through the process.

If you go online you can get instant term life insurance quotes to buy life insurance no exam policies, but the point is: you must get all your facts right before you fill up the form or hit the submit button. A fully underwritten term life insurance policy usually requires the following:

However, all these things are applicable only for traditional fully underwritten term life policies, but not for life insurance no exam. For life insurance no exam, the carriers may not ask you for your body mass index or tobacco use. Actually, these facts cannot be validated without direct physical verification or blood test. The medical exam that the carriers take is merely paramedical in nature. That means it does not involve anything more than taking measurement of height and weight, pulse rate and blood pressure, collection of blood and urine samples. However, these minor tests very much needed because without such tests, the carriers cannot be sure of many important factors and hence they face greater risk in insuring you. That is why such plans are rather expensive and opt for them if only if you need to.

About the Author

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on affordable life insuranceand seguros de vida usa, visit his site today.