No exam life insurance

Life insurance comes in numerous forms and variations. Nowadays, more and more people have started to seriously take into consideration the possibility of investing into a live insurance policy.

No exam life insuranceWhether this is owed to the rapidly changing times, the economy or to simple care towards loved ones, one thing remains certain: the insurance marketplace is blooming, and in order to meet the expectations of all audiences, policies have been designed for all age groups and purposes. Among them you can find toddler insurance and life insurance for seniors.

There are three popular types of life insurance: whole life, term life and universal life annuities. Each has its own perks and downfalls: whole life and universal life are permanent policies. While the first guarantees a pay-out and is more expensive, as it offers unlimited protection, the second defies its permanent insurance status with the possibility of lapsing if not administrated properly.

Universal life insurance can become self-sufficient, meaning that you can basically pay the rates from your own insurance savings account. If, however, you stop paying the rates and you exhaust the adjacent funds, you risk your entire policy. Term insurance is designed to offer good protection at a small price, and is therefore ideal for people who find themselves in transitory financial difficulty or who decided to start a family.

In order to settle your insurance rates, you are required to undergo a medical exam which evaluates your current health condition and medical history. Some people might find such a procedure stressful and might want to avoid it.

For them, a good option is no-exam life insurance. Policies such as guaranteed acceptance life insurance, graded benefit insurance or simplified issue life insurance offer the same protection as classic term annuities, with the bonus that you are not required to undergo the medical exam when buying coverage. The downfall of no-exam insurance is it’s spicy price. For this reason, we suggest that you keep it as a last resort.

For more information about no-exam insurance and policies for seniors, visit our website! Get a free online insurance quote and remember: the ideal policy might be just one click away!