Get Term Life Insurance With No Medical Exam
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Get Term Life Insurance With No Medical Exam
For a long duration of time, many people have been experiencing problems when it comes to term life insurance coverage. To get covered one had to go through medical examinations to prove whether she or he is fit for the cover. However, these days, term life insurance with no medical exam is the solution and many people are currently getting the appropriate cover. While, others are learning more about this kind of life insurance and also getting advice from experts who are ready to help them get covered.
The no exam life insurance is a type of cover whereby the applicant is not supposed to undergo any kind of examination before he or she gets insured. There are various types of this kind of life insurance and they include:
Simplified issue life insurance: This kind of life insurance requires the applicant to talk about his or her medical status, although no test will be performed to confirm the information he or she is delivering.
Guaranteed issue life insurance: On this category, you will have all chances of getting covered and no possible examinations or questionnaires will be conducted, hence you will be approved without any test.
Graded benefits life insurance: When it comes to this category, the applicant will not be asked any health related questions and he or she will also not be examined. This category is best suited to late-middle-aged and above.
Why you should buy this insurance policy?
When you go for this kind of life insurance, you will not spend a lot of time following the applications as all details will be done within a short duration. It can take about four to six weeks before you get approved and also to receive the policy. This kind of insurance cover is also advantageous because it allows those individuals who cannot get covered due to medical conditions to get the policy.
This type of insurance policy is also advantageous to individuals who are in their last stages of survival. This is because they will be able to use this cover as a way of getting some funds to cover their funeral and other expenses which may be incurred when they pass away. Hence, one will not overburden his family. Lastly, this cover is essential because it provides individuals who are afraid of facing a doctor and his tools of trade a chance to get covered.
However, this policy is very expensive because the insurers don't know the life expectancy of the applicant. Hence, the higher charges will cater for the possible losses they may incur when the applicant die suddenly.
Article Source: http://EzineArticles.com
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