Life insurance, known as one of the most important investments that you’ll make for the future of your family. It’s one of the best ways to ensure that they will have the money that they need if anything tragic were to happen to you, but finding the perfect life insurance plan can be a long and painful process, especially if you’re in bad health or have several pre-existing conditions.
There are thousands of Americans every year that are denied life insurance protection because of their health or some severe complication. Those consumers assume that they aren’t able to get life insurance because they have been declined, but that couldn’t be further from the truth. Regardless of your health or any conditions that you may have, there are still plenty of options to get the insurance protection that your family deserves.
With a traditional life insurance plan, the insurance company is going to require that you take a medical exam before they accept your application and give you coverage. During the medical exam, the company will send a paramedic to check your weight, blood pressure, heart rate, and take a blood and urine sample. The results from the exam are going to be sent to the company, and they are going to run those results through the medical underwriting to see how much of a risk you are to insure.
If you’re in poor health and have several health conditions, like diabetes or cardiovascular conditions, you could be declined for your application. If you fall into this category, you could find yourself confused and lost without life insurance protection. Don’t worry, there are still several options to get a life insurance plan at an affordable rate.
This is where a no exam life insurance policy comes to the rescue. These plans are just like a traditional life insurance plan, but you won’t be required to take the medical exam. These plans are a great way for anyone to get coverage. With these plans, there are advantages and disadvantages to be aware of before you buy one of these plans.
The obvious advantage to a no exam plan is that anyone can get the insurance coverage that they need, regardless of health. Nobody should have to go without the life insurance protection that their family needs, and that’s where no exam plans come in.
Another advantage of these plans is that you can get accepted for coverage much quicker than with a traditional plan. With a typical term life insurance plan, you’ll have to wait to schedule the medical exam and then wait for the results to go back through the life insurance plan, which can take several weeks, or even up to a month depending on the company. With a no medical exam, you can get coverage in a matter of days, with some of the best no exam life insurance companies you can even be approved for a life insurance policy in a matter of hours. If you want to get life insurance protection as quickly as possible, this is going to be the best option.
Just like with any other type of insurance plan, there are going to be downsides to the coverage as well. The biggest disadvantage of the plan is that they will be much more expensive than the traditional policy. Before a life insurance company approves your application, they want to know how much risk you will be to insure. The bigger of a risk you are, the more they are going to charge you every month for the coverage. Without the medical exam, the company doesn’t know how much risk you are, and they will offset that by increasing your premiums for the no medical exam. If you want the most affordable policy, these aren’t going to be the best option for you.
Another disadvantage to a no medical life insurance policy is that there is a low limit on how much coverage you can buy. With most insurance companies, they will allow you to buy up to $250,000 in coverage with a plan that doesn’t require a medical exam. For most applicants, this isn’t going to be enough life insurance. If you want more life insurance protection, you’ll have to buy two no medical exam plans or apply for a traditional plan that requires you to go through the medical underwriting.
It’s vital that you get the amount of protection that your loved ones need. Getting the right amount of coverage is a delicate balance between ensuring that you get enough coverage, and not paying for more protection than you need. When you’re calculating your life insurance needs, there are several factors that you should account for.
The first thing is your debts and final expenses that you would leave behind to your family and loved ones. If you passed away, your family is stuck with your bills, which can make an already difficult situation a thousand times worse. The best way to protect your family is by having life insurance. Add up all of your debts like your mortgage, car payments, student loans, and much more. Ensure that your life insurance is large enough to pay off all of those bills.
The next factor to consider is your paycheck. If anything tragic were to happen to you and your loved ones would suffer financially after losing your annual income. The secondary goal of your life insurance is to replace your income if anything tragic were to happen. While there is no perfect number for life insurance, most insurance professionals suggest around seven to ten times your annual income.
It’s important that you pick the perfect policy to fit your life insurance needs. When you’re looking at the different types of no exam life insurance, there are several things that you should consider. If you’re in poor health or have several pre-existing conditions, then these plans are going to be the best choice for you.
Another group that could benefit from a no medical exam life insurance policy is anyone that needs to get life insurance quickly. If you need to get life insurance to satisfy loan requirements, or just want the peace of mind, these plans will get you that protection much quicker than a traditional plan.
Unlike traditional agents, independent agents work with many highly rated life insurance companies. Working with an independent agent can save you time and money on your policy. Each insurance company is different, which means they are all going to give you different rates on your no medical exam policy.
Instead of wasting your time calling agents yourself and answer the same questions over and over, let us do all of the work for you. We can bring all the best insurance rates directly to you for all the no exam plans available to you.
There are some other ways that you can secure lower insurance premiums for your coverage. The best thing that you can do is apply for coverage today, don’t wait any longer. One of the biggest factors the insurance company is going to use to determine your premiums is your age.
The longer you wait to get coverage, the more you will pay for your plan. If you want to get an affordable plan, you should apply today. The longer that you wait, the more that you’re going to pay.
Life insurance is one of the biggest investments that you’ll ever make for your family. It’s the best way that you can provide for your loved ones, regardless of what happens to you in the future.
We know that getting the best plan to fit your needs can be a long and painful process, but it doesn’t have to be. We are here to help make it as easy and as smooth as possible. Our independent agents have years of experience helping applicants connect with no exam plans to give the best life insurance policy available.