No Exam Whole Life Insurance - What Are Your Options?
Life insurance is an important part of your life, and as you get
older, you will find its importance increasing. Life insurance
is a choice you need to make for you family and there are many
things to consider as make a decision that can affect everyone
you know and love. As you consider your insurance situation, there
are certain things that become clear and you might decide that
whole life, rather than term, insurance is the route for you. While
whole life insurance is an institution that has many benefits,
you may be a little bit leery of the higher premiums. In light
of saving costs, you may be surprised to find out that if you want
a no exam, whole life insurance policy, you actually have several
options at your disposal.
Like in any procedure where you will drop a large amount of money,
it is in your best interests to do as much research as you can
before you make a choice. When a life insurance company offers
a policy that does not have medical exam component, it is most
likely offering it online. Buying insurance online is becoming
a more and more attractive option, as the results are instantaneous
and the approval or refusal period is significantly shorter.
One of the benefits of having a no exam life insurance policy
is that you will be able to skip the cost and trouble of trip to
the doctor. This does not however, mean that you can choose to
avoid disclosing pertinent medical facts! Keep in mind that an
insurance company will take very poorly to any sign of being deceived,
and it is always best to be open and honest about anything that
might be a concern. If you believe that you are a candidate for
a no exam life insurance policy, your health impairments ought
to be pretty low; this is a type of insurance that is typically
offered to younger adults.
While typically no exam whole life insurance policies are more
geared toward term life insurance (thus giving the insurance companies
an escape hatch should events change) it is still possible to find
whole life policies which do not require a physical examination.
To find these companies, a more thorough search is necessary, and
while your hunt might begin on the internet, this is no guarantee
that it will end there. Don't be afraid to pull out a phone book
or consult with an insurance agency about what options would be
most available to you. Similarly, don't be afraid to contact the
insurance companies themselves and find out what might be available.
As you search for the policy that will suit you the best, stick
to what you need and understand what you are not willing to compromise
on. There are nearly as many different insurance policies as there
are people, and you will find the one that best suits you.