However, because a life insurance company is taking a larger gamble on insuring someone without the use of a medical exam, rates for no exam life insurance are typically higher than standard term life insurance.īut premiums for term life coverage tend to be on the low side already, so the amount of life insurance you need may still be affordable even without a medical exam.
TERM LIFE NO MEDICAL EXAM FOR FREE
They’re colloquially known as “no exam life insurance” and they have the potential to cover you if you either can’t qualify for a traditional life insurance policy with a medical exam or if you’d just prefer the convenience of not having to take an exam.Ĭlick here to compare life insurance plans for free using QuoteWizard by LendingTree.Ī traditional medical exam for life insurance usually requires measurements of your height and weight, your blood pressure, blood and urine samples and so on. As a result, life insurers usually ask customers to go through a basic medical exam before they can be approved.īut there are, in fact, certain types of life insurance policies that don’t require a medical exam.
Because if you’re already sick or have a life-threatening condition, the policy is more likely to end up costing the company money instead of turning a profit. So it’s not a surprise that most life insurance providers won’t enter into this agreement without more information on your overall health. Yet the life insurance company is betting the reverse - that you’ll pay more in premiums and fees than it’ll have to pay out at the end, or that your policy will expire before you die so no benefit ends up being paid at all. Your side of the bet is that the total you’ll pay in premiums during the life of the policy will be lower than the benefit your family receives if you die while your policy is in force. When it comes to life insurance, both you and your life insurance company are basically making a business wager.
0 kommentar(er)
