Life Insurance With No Medical Exam
Filed under: No exam life insurance, Tallahassee life insurance
Reader’s Question:
I know quite a few people that apply here in Florida for life insurance with no medical exam who are in fairly good health? Why do you think they do that and what do these kinds of policies involve?
Hayden
Tallahassee, FL
Some people, including those in Florida, who are fairly in good health, apply for life insurance with no medical exam simply because they don’t want or even hate to undergo a medical exam. Some of them also want a quicker process of getting their life insurance with less hassle. So long as a person doesn’t have major health conditions such as AIDS or cancer, he/she would be eligible for life insurance with no medical exam. What they have to do is fill out a medical questionnaire and their life insurance policy could be effective the very same day they apply for it.
There are a few things to remember about no medical exam life insurance such as these plans only give limited death benefits. But this amount could still be somewhat considerable and it depends on the age of the policyholder. The majority of this type of plan requires that the policyholder take the least amount of coverage, like $50,000 or less if the person is of pretty advanced age. Also, no medical exam life insurance plans would cost more than a life insurance plan that has medical exam for the same amount of death benefit.
Applicants of life insurance with no medical exam also have to bear in mind that the life insurance companies can alter or even terminate the policy within one or two years. They can do this if they find out that the person had been dishonest on the questionnaire that he/she had filled out. Life insurance companies can check national databases if you have had medical tests in the past.