Features Of the No-Medical Exam Life Insurance
Insurance companies are witnessing a sharp increase in insurance shoppers requesting for the no-medical exam life insurance products.
This is in light of the fact that insurance agents are presenting the traditionally underwritten alternatives at lower costs.
Shoppers are opting for the "non-med" coverage.
This is not a surprise because the traditionally, underwritten alternatives present many inconveniences.
Indeed, insurance companies are coming to terms with the facts that the no-medical exam polices help people who would otherwise not consider purchasing insurance.
The no-medical exam policies get rid of the excuse of not having time.
Features of the no-medical exam polices include: · No medical exam requirements If you do not enjoy getting pocked with needles, the no-med exam policy is right for you.
Therefore, the medical exam should not be an excuse that keeps you from buying insurance.
· Affordable Insurance companies are seeing rising trends.
Every year, new insurance products with no-medical examination are entering the market.
Furthermore, new companies that specialize in these types of products are entering the market.
As a result, the industry is becoming increasingly competitive.
This is in turn driving the premiums down.
Nevertheless, when compared with the traditional insurance policies you will end up paying a little more for this product.
The service provider is taking on a greater risk by failing to evaluate your health fully and thus the need to charge a little more.
· Limited guarantee There is the misconception that since there is no medical examination, anyone can qualify.
This is wrong.
In fact, most companies will be willing to qualify you as long as you have decent health.
You will need to answer several health questions.
Furthermore, some of the companies will consider checking your Medical Information Bureau (MIB) and pharmacy, as well as your motor vehicle report.
You stand to be approved for the policy as long as you satisfy the insurance company.
· Fast approval process The average insurance underwriting requires 4 to 8 weeks.
If you are unwilling to wait that long you can consider the no-medical exam policy.
Once you are qualified for the policy, the coverage can come in force in a matter of days as opposed to weeks.
Many people purchase this insurance cover when they need insurance quickly in order to get a loan or before leaving for a trip.
Others choose this type of policy to give them the desired peace of mind as they wait to qualify for the traditional policy.
This is in light of the fact that insurance agents are presenting the traditionally underwritten alternatives at lower costs.
Shoppers are opting for the "non-med" coverage.
This is not a surprise because the traditionally, underwritten alternatives present many inconveniences.
Indeed, insurance companies are coming to terms with the facts that the no-medical exam polices help people who would otherwise not consider purchasing insurance.
The no-medical exam policies get rid of the excuse of not having time.
Features of the no-medical exam polices include: · No medical exam requirements If you do not enjoy getting pocked with needles, the no-med exam policy is right for you.
Therefore, the medical exam should not be an excuse that keeps you from buying insurance.
· Affordable Insurance companies are seeing rising trends.
Every year, new insurance products with no-medical examination are entering the market.
Furthermore, new companies that specialize in these types of products are entering the market.
As a result, the industry is becoming increasingly competitive.
This is in turn driving the premiums down.
Nevertheless, when compared with the traditional insurance policies you will end up paying a little more for this product.
The service provider is taking on a greater risk by failing to evaluate your health fully and thus the need to charge a little more.
· Limited guarantee There is the misconception that since there is no medical examination, anyone can qualify.
This is wrong.
In fact, most companies will be willing to qualify you as long as you have decent health.
You will need to answer several health questions.
Furthermore, some of the companies will consider checking your Medical Information Bureau (MIB) and pharmacy, as well as your motor vehicle report.
You stand to be approved for the policy as long as you satisfy the insurance company.
· Fast approval process The average insurance underwriting requires 4 to 8 weeks.
If you are unwilling to wait that long you can consider the no-medical exam policy.
Once you are qualified for the policy, the coverage can come in force in a matter of days as opposed to weeks.
Many people purchase this insurance cover when they need insurance quickly in order to get a loan or before leaving for a trip.
Others choose this type of policy to give them the desired peace of mind as they wait to qualify for the traditional policy.
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