Most life insurance companies have policies and terms that you should follow in order to qualify for the program. One major prerequisite is to undergo a series of medical exams and getting checked out by paramedics. The medical exam ensures that you, as a member, do not have any pre-existing medical condition. This is usually a time-consuming process that may take up to 8 weeks and might hinder you from being an exclusive member once you are found having a disease or serious illness. Nowadays, alternative term life insurance quotes are available without going through a medical exam. These are offered safely to you, no matter what age you belong.
The specifications on the term policies would depend on the company that you applied in. But mostly, the term policies are similar with others. The beneficiaries are issued with funds in case the member dies within the chosen term. You can choose to have a 10-year term, 15-year term, or 20-year term and the usual 30-year term life insurance policy. This is to make sure that your beneficiaries, including your children, can get the right amount of funds. The only key difference with the conventional life insurance and with no medical exam required is the price. With regards to specific ages, people belonging to the age group between 18 and 60 can usually avail of the insurance. It is renewable and you can personally discuss your concerns with your chosen company.
Advantages And Disadvantages
If you want to pursue the policy, you need to have an educated decision to arm you and prepare you. To have a clear picture of what you can get from the term life insurance quotes with no medical exam, here are the lists of benefits you can get from having the program.
- Shorter time required for the coverage obtainment
- No agent visit required
- Gets rid of time-consuming and hassle medical exams
- Eliminates medical fees from physicians and paramedics
- Protected by incontestability clause to allow withdrawal of the policy
- Much easier underwriting process for the insurance provider
- Final cost will be issued within a one to two day period
- Perfect option for those denied applicants due to pre-existing medical conditions
- If you qualify, the approval will only take minutes
- Much higher cost for the term policies
- Not all policies on the term policy with no medical exam required can fit and complement the individual’s requirements.
- Not recommended for those that are too budget conscious
How to Qualify
In order to qualify for this term life insurance, you basically need to buy the product or services offered by the company. The insurance company will then allow you to skip the medical exam and no further questioning of your medical or health conditions. Some companies offer $250,000 up to $300,000 of life insurance coverage while others require $500,000. Though higher priced than the traditional life insurance program, you can easily avail of the insurance without any hassle. Provided that you are honest with your answers, there will be no problem at all.
Where to Purchase
If you do not want to manually go to the insurance company, you can choose to go through the online buying process. You can visit online sites for quotes and try to compare which best suits your budget capabilities. You need to choose the best companies that represent legitimate and reputable carriers with the insurance industry. This way you can have a conducive and lasting relationship with the company and you can get the policy you need. After selecting the perfect site for you, you can choose the quotes you need and fill out the actual application for the company’s reference.
The sole reason why you and others are attracted to get a life insurance program, regardless of the terms, is that you want to prepare ahead. You may never know when accidents and death will come and you do not want to leave your family with the burden of paying for the expenses. However, the decision of choosing for the best insurance company to entrust your investment in is the main issue. You need to be extra careful so as not to be victimized by fraudsters and scam companies that are operating online. Though it would consume time, it would be best to establish a good business relationship with the company and have a well-informed service to make sure that your rights are protected.