More and more people are buying term life insurance with no medical, no physical or no exam by a doctor, paramedic or nurse. The convenience of actually printing out your policy there and then seems to appeal to buyers a great deal. The surprising thing is how low the premiums are. When viewing the rates people, at the outset, assume that the premiums will be very high. They are definitely not high. In fact they are quite competitive. Go online and compare rates and you will see what I mean. Term life insurance with no medical exam is here to stay.
Types Of Coverage You Can Get
You can apply online for 10 year term, 15 year term, 20 year term and 30 year term policies. These are guaranteed level premium policies. The premiums don’t increase for the periods you contracted for. In some cases they will increase upon renewal. The death benefits of these policies also remain level for the duration. They are also guaranteed level.
How To Qualify For These policies
When you are ready to buy your policy go to your computer and type in the type of policy you want. There are several sites offering term life insurance with no medical exam. What you will find is that most of the sites that you would click are going to one of 3 or 4 sites. These carriers offer good products. All you need to qualify is to answer a few health questions and the carriers will take it from there. It usually takes about 15 minutes to get approved. If there is medical history that would be a problem, or if there is anything that may need to be clarified, it may take longer. A medical exam may be requested under such a circumstance by some carriers.
A doctor’s report may be requested in rare cases. The reason this is unusual is that while you type in your information the companies verify it at the same time.
If you are between ages 18 and 65 you can apply for coverage. You can renew your policy, if you choose to do so, up to age 95.
The Amount You Can Apply For
Some life insurance companies limit the no medical life insurance you can apply for to $250,000. There are others, however, that will issue between $25,000 and $500,000 coverage or even $1,000,000 depending on your age. It would be wise to look at a “life insurance calculator” before you go to the site as this would help you determine the amount you need to purchase.
One of the interesting things about term life insurance with no medical exam is that in some cases you can actually print out your policy online. You don’t have to wait on an agent to deliver your policy. You don’t need to wait for snail mail.
Buying term life insurance has come a long way. It is much easier to do than it used to be. If you are a busy person and just can’t find the time to take care of these things may be it would be best to buy your policy online. Getting term life insurance without having to do a medical is quite a convenience.