No Exam Life Insurance – 3 Important Benefits

No exam life insurance gains more and more popularity. It has multiple advantages and we would like to present you top 3 most important benefits:

Senior-Couple-Happy-in-their-Retirement1)     Seniors and sick individuals can qualify for it.  Normally, these categories of people are not accepted by companies that sell the traditional policies.  No exam life insurance will grant them coverage, but with some limitations.  The maximum amount of coverage is around $300.000.

Some companies offer more or less, but this is the average maximum price.  You will have almost all the benefits and riders that are usually included in standard policies.

Of course, each company can make several adjustments and follow its own guidelines. In some cases, death benefits will not be paid immediately to the beneficiaries or the insured must not die in the first 2 or 3 years since the policy is active, otherwise a claim cannot be filed.

2)     Application is processed immediately.  With standard policies, you would have to undergo several tests: urine tests, blood tests, EKG, x-ray scans and so on. Besides accumulating an immense stress, you will lose a lot of time with scheduling the exams and waiting the results. Plus, you will have to wait more for application processing.

Clearly, if you have a tight schedule, this fact can be quite discouraging.  With no exam life insurance, you will not have to worry about that.  Application is processed immediately, just after you complete a questionnaire and a form. You will get an answer in the same day.

3)     Multiple types of plans. No exam insurance plans provide permanent and term life protection, exactly like standard policies.  Depending on your medical condition and age, you will be included in general acceptance no medical exam life insurance plans, critical illness plans or simplified issue no exam life insurance plans.  Some companies offer more options and again, you will have to talk with an insurance representative or do some research on your own.

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