There are a number of reasons why many people do not want to go through a medical examination when purchasing life insurance. Many people can find the examination too invasive and others may not be able to find the time to go to a doctor’s office due to a very busy schedule. As well, a lot of people get anxious about needles for blood collection. If you are one of the many Canadians who do not want to get a medical exam for life insurance, there is a great life insurance option available – no medical life insurance, or life insurance without a medical exam.
No Medical Life Insurance Definition
Insurance without a medical exam is the simplest life insurance on the insurance market to cover final expenses and other needs. No medical life insurance is life insurance that you buy which does not require a medical exam or blood test. This type of insurance is designed for people who have a hard time obtaining life insurance due to such factors as age and health condition, as well as for people who, for whatever reason, do not want to get a medical exam.
Health History
Although no medical life insurance policies do not require a medical exam, your health history will still be relevant to your insurance application process There will often be some questions to answer such as: age, location, history, past health, occupation, gender, etc. Applying online involves a filling out a simple and brief form.
While there are insurance providers that price males and females and smokers and non-smokers at the same rate, there are insurance providers that distinguish between male and female rates and between smoker and non-smoker rates. If you are a non-smoker, it is important to inform the insurance company to make sure you do not pay higher premiums.
No Exam Life Insurance Benefits
One important benefit of getting no exam life insurance is how fast you can get approved for a policy. This is because you avoid the delays resulting from scheduling medical exam and for the medical documents to be submitted. Sometimes, it can be as little as 10 minutes for approval or just a couple of days. As well, you can pay your premiums electronically. And in case of accidental death, benefits can often increase in a range of 2 times to 5 times.
What Type Of Policy Is Best For You?
With no medical life insurance, you will receive continuous coverage for life. You just have to maintain your premium payments. You can chose from various types of no exam policies with different levels of coverage. Guaranteed acceptance life insurance is designed for people up to the age of 80 years. Coverage amounts can vary from – $3,500, $5,000, $10,000, $15,000, $20,000 and $25,000.
No Medical Whole Life Insurance plans provide coverage for your entire life. Whole life insurance does not expire or change at various points in your life. No Medical Term Life Insurance policies are the least expensive of the no medical coverage’s and lasts for a specified period of time. When comparing no medical exam life insurance policies, you should compare features, premiums, and the required medical questions.
No Medical Life Insurance – Peace Of Mind
If you have been’ turned down before, you are hard to insure, you are overweight, you smoke, or you don’t want to get a medical exam, life insurance without a medical exam may be right for you. At Nomedicallifeinsurance.ca It is a great way to protect your family members and pay for funeral expenses. It does not matter what your current state of health is, or if you have a medical condition, you will not be turned down.
