No Medical Term Life Insurance Policy – Who Can Process for an Application
Life insurance companies these days have provided a lot of opportunities for people to claim benefits and secure their family in the future through life insurance policies. With the availability of term life insurance without medical exam people have become more confident of obtaining benefits. The majority of this type of life insurance policy provides the same benefits as those that require medical examination.
Who can apply for the Policy?
Any individual who will be granted with term life insurance with no medical exam may pay higher rate than those who have obtained a fully underwritten life insurance policy. Only a permanent resident in the U.S. or a US citizen can apply for this type of insurance. The amount of coverage and type of plan may vary from one company to another. The cost of this type of policy often depends on the applicant’s current health condition although there is no medical exam needed.
Applicants with Serious Health Problem
Individuals with serious health problems applying for term life insurance with no medical exam are provided with death benefits through the policy. Most of the plans may require them to answer a few questions and those with the lowest cost may obtain one. Most of the policies have about 1 – 2 years waiting period until the full benefits are granted. They offer a high payout and insurance companies pay the full amount of benefits if the death is caused by accident even within the last 2 years of payment period.
Life insurance companies have established the term life insurance with no medical exam in order to accommodate those who need to purchase a life insurance but do not want to undergo a medical exam. There are many good companies who are now very flexible and willing to offer inexpensive life insurance policy for those who want to secure death benefits in the future.
