Term Life Insurance Quotes no Medical Exam

term life insurance quotes with no medical exam

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Getting Term Life Insurance Without a Medical Exam

One of the most affordable options in life insurance is known as term life but what is it and is it right for you? Most people assume a life insurance policy is good for your whole life but thatís just not the case. Sometime people donít know what they are buying and end up with a term policy thinking it is good for their entire life and itís just not.

Term life insurance is a coverage plan based on a predetermined amount of payout available for a set time period or Ďtermí. You can choose how long you need the coverage for, from 5 to 30 years. The shorter the term the lower the premium costs. This is an alternative for most people that have health issues or are getting old, and donít need a lot of coverage. The coverage amount can range from $25,000 to over 1 million.

Itís important to know what you are buying and what is covered, make sure your quotes are customizable so you can add or deduct things you want.

 

How a Term Life insurance medical exam is no longer necessary

Back in the beginning of life insurance policies you needed a medical or health exam and for some you still do of course. But now things have changed, a medical exam can be optional for you, if you donít want this you can get a term life insurance plan without it. But is there a catch?

Yes, you arenít going to get the same coverage you would with one, you arenít going to get as much of a payout as you would with a medical exam and itís going to cost you more to be insured. Even though you are not required to get a medical exam you are going to have to answer some health questions, for an example; are you a smoker, overweight, diabetes, any other health issues. Life insurance companies use these questions to determine their risk in you or your risk in life and in the end that determines the rate.

One thing that is great, if you donít have any health issues getting a medical exam will significantly lower your life insurance premium, this is something to consider.

 

 

 

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