Friday, May 16, 2014

The Activity of the Life Insurance without Medical Exam

Can one Get Term life with no Health check?
When trying to get a phrase life insurance coverage, many applicants is going to be inspired to undergo a medical examination. Typically, the exam is conducted with a nurse or any other paraprofessional in the applicant's home or workplace. The purpose of test is to determine whether you will find any medical conditions that may negatively modify the applicant's life expectancy.
Life Insurance without Medical Exam     
Some term life insurance products require a medical exam for all applicants. Other products may require a clinical exam in a few instances. Finally, some products may offer a term life insurance coverage without any requirement for a medical exam or perhaps medical history information.
Do you know the Key Benefits of Owning a No Health check Life insurance coverage?
A no exam policy may not be what you want for everyone. However, there are several key benefits of such policies individuals. First, these policies are much simpler when it comes to application procedure, typically requiring the applicant to answer just a few health related questions.
This type of policy can be a real help to those who have a pre-existing health problem. It provides loved ones reassurance knowing that funeral expenses are going to be covered should the insured perishes in the near future.
Another advantage to those types of policies is that coverage could be issued quickly. Oftentimes, a life insurance policy that needs a medical examination can take as much as about six weeks to become approved. Yet a no medical exam policy may be approved within just a few days or less in some instances.
The ease and speed of applying for a no exam policy make it an obvious choice for many.
Exams Are Not Always required
As part of the application process, insurers would usually ask a number of questions about an applicant's lifestyle and medical history. Some companies will reserve the right to request a clinical exam only when the information gathered in the initial application raise concerns. For instance, a business might ask a job candidate to submit to a medical exam if the applicant:
• Is over a certain age
• Is or is a smoker or heavy drinker
• Has had a good reputation for a serious illness
• Is currently going for a prescription medication
• Is seeking a high level of insurance
Some companies will issue a phrase life insurance coverage with no requirement of a clinical exam. Typically, these businesses will still ask the life-style and health background questions as part of the application process. However, the businesses will then set premium rates in line with the applicant's responses to those questions, and no follow-up exams are going to be required.
In addition, some policies are made to be issued without asking any health background questions whatsoever. These plans are likely to be more costly and provide lower coverage limits to account for the elevated risk towards the insurer.

 A no exam term life insurance policy should ever be considered a way to get coverage by neglecting to disclose a known health condition. A life insurance policy might be voided if an insured provides false or incomplete health info on the applying.