Understanding No Medical Exam Life Insurance – 3 Key Issues!

Understanding no medical exam life insurance is simple and these are the 3 major key issues for this policy:

COLOURBOX12485741)     Even if you no longer have to undergo medical exams, your health will still be an influential factor. Although you do not have to present results of various medical exams, your health will also be evaluated. Insurers will give you a questionnaire with several medical questions.

The number and the content of the questions vary for each company. Some insurers are interested in knowing if you are currently hospitalized or living in a nursing home, while others are interested to know if you smoke or you have been declared terminally ill.

2)     No medical exam life insurance has some limitations. It is very true that it was specifically designed for protecting old persons and sick individuals, people that would otherwise will remain uninsured.  Even so, you cannot abuse of this privilege and wait too much until you decide to purchase this policy.

Its tolerance is not infinite.  Companies selling no exam life insurance refuse people that have more than 80 years old (some of them accept clients until the age of 85) or that have been declared terminally ill (they have less than one year to live). Also, people with HIV/AIDS and cancer are usually rejected.

3)     No exam life insurance is one of the most expensive policies on the market.  No medical exam life insurance is not purchased because it is a cheap, affordable policy, but because is the only available policy for the person seeking it. As you can expect, no exam life insurance clients present a high mortality risk and the price compensates the risk.  Furthermore, they cannot purchase high amounts of coverage. Cases of policies with cash value more than $300.000 are pretty rare.

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