Let’s start with that long gone are the time when you have to get a full physical in order to be approved for a life insurance policy. The point is that a lot of companies are now offering an application process that does not require a medical exam. You will unquestionably agree that this is great news for all individuals who do not want to go through the hassle of a physical, no matter for what reasons – time constraints or fear of needles. Also it’s also great news for those individuals who are in good health and do not want to wait several weeks for their life insurance policy in order to complete the underwriting procedure.
You might also would like to know what are the benefits of this type of policy.
Primarily no medical exam is necessary (so there’s no blood drawn and no urinalysis)
Secondly, it is quicker than usual whole life insurance quotes (sometimes instantly, if you qualify)
It should be also said that it can be done from the comfort of your home
The other important question that is needed to be answered is whether there are any limitations.
Yes, you really can. In order to provide you with more information and so better awareness of the issue there is a need to point out that a large amount of companies have a maximum amount of $500,000 so you won’t be able to get as much coverage as you would with a traditional policy. But in the case your need is $500,000 or less then this will be ok for you. You need to understand that it is essential for you to be in general good health. You need also to take into consideration that in the case you have any serious pre-existing health conditions, it will be better for you to choose traditional life insurance policy with a physical exam. Some medications for blood pressure and cholesterol are ok, though you won’t get the highest health rating.
There is no need to mention that you should be wholly truthful concerning all of your health history as a life insurance company will check your medical background and, in some cases, your driving history through different databases. Remember that if you’ve had a DUI or recent speeding tickets, then you will not be approved for a life insurance policy without a medical exam.
The other important thing for you to take into account is how exactly to do it.
In fact, the application from for life insurance policies that need no medical exam are usually just a few steps:
1. It is necessary to fill out an application online and answer some simple health questions.
2. It is necessary to review the rate for your particular situation (health history, age, height, weight, etc.).
3. It is necessary to you submit your application and your policy can be approved in just a few short minutes.
4. It is necessary to print out your policy and you’re finished.
To conclude it all it should be mentioned that in the case you are in general good health, and you do not want to wait several weeks for a typical life insurance approval, then this category of policy may be ideal for you.
More info about whole life insurance rates on this whole life insurance site.
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