No-Medical Life Insurance

July 30th, 2007 by Jeannine C

With so many demands on your time, have you gotten around to getting life insurance yet?  You are not alone.  According to a recent life insurance ownership study, 60% of the population that wants or needs to have life insurance hasn’t done it yet either!  One way to get the life insurance coverage you need could be no-medical life insurance.

It is much easier to apply for a no-medical exam policy; usually you just complete a health-status questionnaire which asks about your health, medical history and conditions.  Frequently it can be approved within just a few weeks, which is much shorter than policies which require time for review by a medical insurance underwriter.

There are a few important things to remember if you choose to pursue this type of policy.

- Generally the amount of coverage is limited to $100,000 maximum, which is a much smaller amount than what is available through policies that require a physical.

- If you have withheld medical information, the life insurance company has the right to cancel your policy or refuse to pay if you try to file a claim too quickly after purchase.

- Folks in special circumstances, such as over 50 or with high risk hobbies may not be offered coverage.

Make sure to fully understand all of the rules governing any policy before buying something as vitally important as life insurance.

Listen to No-Medical Life Insurance
Listen to No-Medical Life Insurance

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