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How To Get Term Insurance Policy With No Medical ExamBy Expert Author: Rahul Sharma
People will often go for term life insurance as it looks cheaper in the beginning when comparing the premium to that of a whole life insurance policy. It is imperative to understand that when comparing term life premiums to permanent insurance premiums, the time period of the policy should be taken into consideration. When buying life insurance based only on the price, people generally ignore the renewal premiums on a term life policy, and not able to see that a term insurance policy is basically more costly to maintain for a lifetime period as compared to having a permanent or whole life policy in place.
While deciding on whether to buy term insurance policy or whole insurance policy, it is advised to go through a requirements analysis with your insurance representative.
These days there are numerous leading life insurance companies providing a variety of policies to cater for various customer needs. So, you have the opportunity to opt between term insurance and whole life policy. Besides, you can opt between a medical exam policy and a policy that does not have need of a medical exam.
Some of the companies provide the term insurance with no medical exam, but they set limits on the policy. Due to varied requirements and numerous policies, it is suggested to get the best option.
Below are mentioned some of the ways to get no-medical exam policy:
Understand the Need of Insurance.
Getting an insurance policy is extremely vital nowadays. Earlier, many of the insurance companies required the insurance holder to undergo an exam. To get your medical exam done, you need to visit your doctor. Nevertheless, nowadays the insurance company sends their chosen doctor to do exam on you. The doctor will conduct some tests which include blood and urine tests.
He/she will send your sample for testing in a pathology lab. The doctor will check your blood pressure, heart rate and lungs and measure your height and body weight. He/she can also ask you some questions about your past medical record afterwards he/she enters the results on a policy form and send the completed form to the insurance company. Generally, the results of the exam take some days to come, which mean you will have to wait for some days before you are capable for insurance.
Follow other options
In case you do not have the time to go for a medical exam or you are reluctant to undergo an exam for different reasons, including family, social and religious reasons then there are other options available in the market. Moreover, if you want to get insurance as early as possible or you have a fear that an outcome of a medical exam will reject your insurance, then it is suggested to opt the no-medical exam insurance. With the intention of getting a competitively priced policy, it is essential to search around.
Compare policy quotes
If you are looking forward to get a term insurance policy that does not require a medical exam, then you can find it easily on the internet. You can use the online quote tool which is easily available in many leading insurance websites. Many of these websites provide a one-stop shop that assists you to compare insurance policies and prices provided by various insurance companies. This is the best way of finding the best coverage and provider for you. By entering your detail and the plan you are engrossed in, you will be able to get instantly numerous quotes from varied carriers to facilitate you to compare and find the best coverage.
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