May 06, 2012
Considering Basic Facts about Life Insurance
These days, the possibility to get life insurance actually seems affordable and available for everyone. However, different companies still refuse to take into consideration individuals who are involved in high risk professions or have some serious health conditions, such as heart diseases, cancer and diabetes.
That’s because such categories represent a financial risk, and they are mainly rejected after a thorough medical examination, which is required in the application process. Luckily, there are other effective ways to qualify for a policy. Such persons can guarantee their financial security with the help of no exam life insurance.
Different Types
There is one kind of insurance that requires no medical checks and tests. At times, there are no questions about the health condition during the application process. Unlike other types, which usually require such a check, no exam life insurance is much faster to get. There are three main kinds of it, including the guaranteed issue life insurance, graded benefit life insurance and simplified issue life insurance. Whilst the latter still requires some important questions about your health, the first one doesn’t, which means that no customer can be turned down. In some cases, guaranteed life insurance can build the cash value with time.
Important Facts to Know
For sure, there are many advantages that no exam life insurance has to offer, but you should not forget about a higher price. Thus the cost of this kind of insurance definitely compensates a financial challenge for companies, because they embark on a potentially risky affair. In fact, the lack of medical tests and checks doesn’t allow assumptions, and that’s why the need for security usually imposes more expensive premiums. Moreover, the price of no exam life insurance depends on the life expectancy. But some experts say that no exam life insurance may be a trap for those individuals who have quite serious health conditions.
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These days, the possibility to get life insurance actually seems affordable and available for everyone. However, different companies still refuse to take into consideration individuals who are involved in high risk professions or have some serious health conditions, such as heart diseases, cancer and diabetes. That’s because such categories represent a financial risk, and they are mainly rejected after a thorough medical examination, which is required in the application process. Luckily, there are other effective ways to qualify for a policy. Such persons can guarantee their financial security with the help of no exam life insurance.
Different Types
There is one kind of insurance that requires no medical checks and tests. At times, there are no questions about the health condition during the application process. Unlike other types, which usually require such a check, no exam life insurance is much faster to get. There are three main kinds of it, including the guaranteed issue life insurance, graded benefit life insurance and simplified issue life insurance. Whilst the latter still requires some important questions about your health, the first one doesn’t, which means that no customer can be turned down. In some cases, guaranteed life insurance can build the cash value with time.
Important Facts to Know
For sure, there are many advantages that no exam life insurance has to offer, but you should not forget about a higher price. Thus the cost of this kind of insurance definitely compensates a financial challenge for companies, because they embark on a potentially risky affair. In fact, the lack of medical tests and checks doesn’t allow assumptions, and that’s why the need for security usually imposes more expensive premiums. Moreover, the price of no exam life insurance depends on the life expectancy. But some experts say that no exam life insurance may be a trap for those individuals who have quite serious health conditions.
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