Is It Beneficial To Buy No Exam Life Insurance?

There is fierce competition among life insurance companies these days as there are lot of insurance policies made available for people with many types of needs. So it is of no surprise that life insurance no medical exam policies are also available on the insurance market. And because a medical examination can be annoying for many people, no exam policies have become popular. But how beneficial are they?

life insurance coverageMany life insurance companies issue coverage without a medical examination but more often than not they are only made available to younger people. This is because the life insurance providers know that the younger you are the more likely you are to be in good health. They also tend to issue larger amounts on a non medical basis. If you are in need of life insurance and just do not have the time or willingness to go through the process of doing a medical examination, and if the amount you want is limited then you should go ahead and look at quotes on the internet. The amount is usually limited to about $500,000. If you want larger amounts, or if the life insurance company uncovers information that would suggest that your health could possibly be impaired, you are likely to be asked to do a medical.

Being that there are limits on the amount of insurance you can get on a non medical basis, and that it is better suited for young people, you should evaluate your personal situation in order to determine if it is worth it. Either way, having proper life insurance is important, whether or not you have to take a medical examination in order to purchase a reliable policy.

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