By Mkamba M Juke
There is an increasing trend of families taking up no medical exam life insurance policies. One of the biggest excuses people are giving for this action is that they do not want to take a medical exam, and they do not have time. a no medical exam life policy means you do not have to take a physical medical examination to obtain a life cover, and even in some cases, no questions are asked. The biggest downside of this type of policy is that it is extremely expensive.
One of the most common misconceptions about life policy with no medical exam is that anyone can get a cover. That is not exactly true. You must be in at least decent health to qualify for such a policy, and the insurance company will ask a few medical questions to verify that, and may even check other things such as pharmacy report, motor report and medical information bureau. Most people soon find out that obtaining this kind of policy involves much more hassle than they imagined. Nevertheless, here are some instances when it makes sense to buy such a life policy:
If you have not seen a physician for at least 2 years
If you have not seen your physician for several years simply because you have not been seriously ill, you may need to take a no medical exam life policy at least until your traditional life policy is approved. At this point, you have no idea what will be the outcome of lab work will be based on the blood and other samples they will take. Many have walked into the room thinking they are normal, only for lab work to come back showing elevated blood pressure and high cholesterol, or some other condition that can significantly increase rates or lead to a decline. If you secure a non-medical life policy, you can relax knowing your family is safe regardless of the outcome of the traditional policy.
If you require a life coverage urgently
There are many instances, where you may require a life insurance policy fast. For instance, you could be embarking on a long trip by sea or air overseas, you may be required to have a life cover before beginning employment in certain companies, you might need to coverage fast to secure an urgent loan, or you simply want to get the matter off your chest as soon as possible. The underwriting of a traditional life policy takes a minimum of four weeks and can go up to eight weeks. With a non-medical life insurance, you can obtain cover within 24 hours.
We provide the best info about no exam life insurance on http://www.lifeinsuranceover65.us. For further details please visit the provided links.
Article Source: https://EzineArticles.com/expert/Mkamba_M_Juke/1476626
No comments:
Post a Comment