Do Not Buy Life Insurance No Exam Even If You Are Moderately Healthy
Written by admin on March 21st, 2010
Do you want a life insurance without giving a medical test or examination? If the answer is yes, you will get many life insurance policies that will not take a medical test and not ask you a single medical question. Surprised? Yes, to confirm this, try searching the Internet and you will see it for yourself. There is cutthroat competition in the life insurance market these days and every company is trying to increase its market share. This is the right time to buy the life insurance policies such as the life insurance no exam policies.
Then, why it is not as popular as it should have been? It has one big flaw. Life insurance no exam is exceedingly expensive. If you shop around a little, you will find that ordinarily a 35-year-old man has to pay an annual premium of $400 for 30 years’ plan with $500,000 as coverage amount. If he opts for life insurance no exam, he will have to pay an annual premium of $1595 for the same coverage. Why is it so? Try to understand the whole procedure and you will know why life insurance no exam is so expensive.
As time goes by, when they enter their late forties, they realize the need for the life insurance and then they run to get the life insurance policies. By this time, their health is not at the best and they mostly fail the medical examinations that are conducted by the life insurance companies. Now with no where to go, these people have to opt for the life insurance no exam policies. So, do you think that these people will get the same benefits as the other life insurance policies? Maybe yes or may be not.
You do not need to take my word for it. Receive life insurance quotes from as many sources as possible. You will soon realize the truth behind my words. Life insurance no exam rates may be exorbitantly high, but not without reason. Try to understand why it is so.
Normally, you have to fill up a quote form, which contains queries like:
• If you have ever used tobacco in any form
• If you have quit, how long ago
• If you have any chronic or hereditary disease
• If your parents or siblings have had such diseases
• Personal informational like name, sex, age, height and weight etc
• Basic quote information like coverage period or coverage amount
While you are shopping around for life insurance quotes, beware of giving your personal data too freely. They may just sell them as leads. It is better to use those online brokerage houses that allow you to search anonymously. In fact, when you decide to buy a life insurance plan, get in touch with one such life insurance brokers. Fill in the quote from that you find on the page accurately.
The questions asked in the basic quote information section will help you give the best life insurance quotes. Make sure that when you get the life insurance quotes, you have a good look at them and then decide on what you want. If you have any trouble in understanding the life insurance quotes, pick up the phone and talk to a phone agent immediately. In the basic quote information, you will have to give your state details, date of birth, gender, height weight, and coverage amount.
As soon as you have submitted the relevant details, you will start receiving quotations from different carriers with whom they are attached. Most big brokers are attached with reliable and financially strong carriers only. Choose the one that suits you most. If you have any doubt, call the broker or send a mail. An efficient broker will have some contact information on the website and customer care executives to operate them. If you are not sure, you can consult them in details on topics like face value or the coverage period. These two factors have the potential to make the policy either affordable or unviable. You can also ask them about the life insurance no exam and learn everything from the horse’s mouth.