No Med Exam Life Insurance: Pros And Cons

Given the fact that recently insurance met a crease in popularity, the industry designed new policies meant to fit the budget and meet the needs of all audiences, from toddlers to seniors. A common misconception about life insurance for seniors is that elders might find it difficult, if not even impossible to qualify for coverage.

young-couple-talking-insurance plan financeEven though the grounds on which this assumption lies on are solid, given the common criteria on which insurance representatives base their selection of clients, a very important fact is omitted: seniors can buy no med exam life insurance and enjoy the same quality protection as any young and healthy individual does.

Here are the pros and cons of no exam insurance:

1.      Pros

Life insurance without a medical exam can count as a last resort for people who don’t have any other options. If you medical history or current health condition might obstruct your pursuit of the ideal insurance coverage, no medical exam can prove to be a life saver. Policies such as guaranteed acceptance or simplified issue insurance can grant you the needed protection.

They solely require the completion of a form with medical related content. No stress, no tests and no chaos. Also, no exam insurance is very fast. You can become protected within a few days, as the process is made easier because of the simplicity of the annuity.

2.      Cons

There is, however, a major downside to no exam insurance: its price. No exam policies are very expensive, because the companies undertake very high amounts of risk when they issue you a policy. You have to keep in mind that insurance is, essentially, a gamble between you and the insurance company: you either win or lose. And the tables should be set in balance.

For more information about how to purchase no medical exam life, all you have to do is click here! The ideal life annuity might be just one click away, waiting around the next virtual corner.