Term Life Insurance Q&A

Life Insurance No Medical – The Benefits

Life insurance is an extremely essential safety net that you provide for your family. Although very important, it comes with certain hassles, the biggest among them being medical examinations. In order to ensure that you are in good health and to convince them that you are not a “high risk” customer you need to undergo a battery of test. If you want to avoid these examinations, you can opt for life insurance no medical.

Why is a medical exam such a hassle?

Medical exams take time. This is only one of the criteria here. There is another other very important thing that needs consideration. When you undergo a medical examination, several minor health issues might be revealed. Life insurance companies pay a great deal of attention to these. Before you are found eligible you need to correct these health issues. This takes time and you cannot have life insurance in the meanwhile.

For instance: if you are found overweight you are required to shed those extra pounds. If problems such as high cholesterol levels are found, you need to change your lifestyle and food habits in order to reduce the cholesterol levels in your body. There are several other changes that you might have to undergo before you are found eligible. A good way to avoid these problems is to buy life insurance that is available with no examinations.

People with inherent diseases find it almost impossible to obtain a life insurance policy. For these people, medical tests are a major hindrance. The very purpose of offering life insurance no medical is to enable people with preexisting conditions to buy a life cover.

Ff you suffer from a phobia towards needles, doctors and hospitals, you don’t have to face your fear when you buy a no medical insurance.

The major advantage of a no medical insurance policy is that they become active very quickly. Conventional policies require around four to six weeks to become active. These policies are activated within a couple of weeks.

How to find life insurance no medical?

The good thing about these life insurance policies is that they are available in all forms such as term life and whole life. You have a good choice. However, there are certain aspects that you need to keep in mind.

  • Since medical tests are not required, the cost of the policy can be very high. It could be several times higher than policies that require medical examinations. If you are in good health and weight or cholesterol is your only concern, it is more economical to opt for policies that require medical tests.
  • The costs of policies vary from one insurer to another. Check out various options, request quotes and choose the policy that offers good coverage with affordable rates.
  • Online insurers usually offer life insurance no medical. Before you buy from such an insurer, check out the details, registration, license and other authentication documents of the company.
  • You need to understand that many of these “no medical” policies are not “guaranteed acceptance” policies. So, if you are a smoker, alcoholic or visibly obese, there is a good chance that your application maybe turned down. The policies might not be offered to the elderly.

Despite these limitations, a policy that does not require medical examination is very convenient, provided you are ready to bear the costs. For people with preexisting health conditions, this insurance is your best bet.

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BeyondQuotes has a dedicated team of experienced professionals to administer our search engines. Using our own rate calculation technology, we ensure that our quotes are accurate and current and delivered instantly, as you'd expect.

 

Our agents know how to manage insurance providers, eliminating the red tape that so often accompanies policy applications, saving our customers time, effort and money.

 

We don't pester our customers with updates and spam emails, nor do we pass your details to third parties or use them in any other way other than to provide you with the services that you require.

To see our comprehensive list of policy providers, submit the form at the top of each page. Availability is subject to state of residence, so be sure to enter your details correctly.

BeyondQuotes is licensed to sell our products in all 50 states. Your agent will be licensed to sell where you live, and will provide you with expert knowledge as to the rules and regulations that apply to your location.

Only BeyondQuotes has access to your personal information. Once you have selected your policy provider, your details will not be passed to any third parties or used in any way other than as you, the customer intended.

There is much more to Beyond Quotes then just providing accurate rates. We are instrumental in every step of the application process. We don't sell our customers' details to high-bidding agents, as we have our own dedicated sales office, and we are on hand to deal with your questions and doubts.

BeyondQuotes -much like some independent rating companies- constantly monitors the insurance market, comparing rates, quality of service, and the different products that Term Life Insurance companies offer. These companies compete according to certain factors, such as customer health, size of policy, age range, and lifestyle choices.

 

BeyondQuotes then establishes close professional relationships with the choicest policy providers to ensure rapid responses and excellent service. BeyondQuotes aims to deliver on several areas including pricing, claim paying, the stability of our products, customer service through experienced staff, efficiency and specialist underwriting.

Life insurance is intended to replace your income should you be unable to work. Your regular household expenses should be covered, and your family's upkeep needs to be taken into account. How well you wish to live in the event of unforeseen circumstances is a personal choice, but 5-10 times the value of your yearly income is usually recommended.

 

It is always worth discussing your requirements with a financial advisor to better understand financial planning, and of course you may call one of our agents who will be happy to discuss the issue.

Level (or 'guaranteed') policies are plans where the premium remains the same for the duration of the term. For example, a 30 year level, or guaranteed, term would remain the same for the entire 30 years, irrespective of inflation and other such factors, provided the premium payments are met.

 

The amount of coverage that you receive would also remain level, irrespective of wage increases and inflation, so this is something to take into account when purchasing a plan.

People decide on term length according to several factors, but it often comes down to their beneficiaries. Sometimes people wish their partners to be covered right up to their retirement. When it is children that are the main consideration, people may wish them to be covered to when they graduate from college.

 

Another consideration is the amount of time left on your home's mortgage. If you wish your home to be secured, your life insurance's term should be at least the same amount of years as the remainder of your mortgage repayments.

The necessity for Term Life Insurance is the same for spouses who earn income as it is for you. You manage your payments equally, and therefore they need to secure their income, should the unforeseen occur. If your spouse doesn't work, there are still often losses of income, should they pass away.

 

Childcare, missed working hours and final expenses are just some examples of how losing a partner can leave you in the red. It is often recommended that a non-working spouse should have half the amount of Term Life coverage as the main household earner.

Term Life Insurance is just that: Insurance that covers you for a pre-specified term, usually starting at ten years and rising in five-year increments to thirty years. This type of insurance is less expensive, as the insurer's coverage is limited.

 

Whole Life Insurance lasts for as long as premium payments are met, right up to the death of the insured. These policies have an investment product that can be borrowed against according to its cash value. This is far more expensive (and less popular) than its Term Life counterpart.

BeyondQuotes represents a number of companies that specialize in insurance for pre-existing conditions. No matter what your state of health, there will be a policy available for you. We have helped those with obesity, heart conditions, diabetes and cancer receive Term Life coverage. Ask our agents about our No Exam Term Life Insurance if you are concerned about the results of paramedical tests.

With BeyondQuotes, applying is as easy as 1-2-3:

 

1) Start the application process. Call us on our toll free number or fill our online form at the top of each of our website's pages. One of our friendly, licensed agents will be on hand to review your details and open your application.

2) An agent will call you to walk you through the verification process. You will then arrange a date for your free paramedical exam.

3) Once you have completed the short physical examination (this can take place either in your home or workplace), the medical professional will complete your application and forward it to your chosen insurance provider.

Our agents' main aim is to find you the best coverage for the best price. As long as you provide us with an honest and full application and complete your medical exam (where applicable), we will deal with the rest.

A policy application will usually take between 1-2 months from submission to completion. Should various factors intervene with your application, we will keep you informed of its progress.