Everyone, sick or not, would want to have some insurance protection. If you would give it a deeper thought, the sick people would like their families to be protected all the more as they know that death come into view. But since insurers are quite particular to the applicant’s health, it somehow keeps the latter from trying to strike a deal. Fortunately, the bigwigs in the insurance industry has paid attention to it and created the term life insurance no medical. In this plan, your health status would not affect the underwriting process.
As what the policy’s name implies, it will not make you undergo urinalysis, blood tests and other sort of medical examination. It will guarantee you that there will be no intimidating physicians and scary needles. Although you will be required to answer a series of question that would pertain to your medical history, it will solely for records purposes. Undoubtedly, this plan has a number of advantages. It has been getting famous as even those who are not terminally ill are buying it. They are the ones who cannot stand waiting for long period of time and who are afraid to know they are indeed sick.
Older people purchase insurance plans primarily because they simply do not want to be a burden to their family. They intend their death benefit to be allocated for their final expenses. The policy owners would most likely be unable to outlive the plan especially if they are old and/or terminally sick. More often than not, their children are able to stand on their own financially. There are some cases though wherein senior citizens still have dependents. Nevertheless, they would appoint a beneficiary even in term no medical life.
A policy holder who finishes the term of the coverage offers him the advantage of a life insurance policy renewal. He or she will be given a chance to choose a different one like a whole life, or stay with his previous policy. His beneficiary will never claim a cash benefit once a policy holder completes a whole term without dying. If, by chance, the policy holder dies after finishing the term, there will never be cash benefit for the beneficiary.
Below are a few benefits that senior citizens can gain with term life no medical.
* They would not have to wait for 6weeks at the most which is the usual waiting time before the underwriters can arrive into a decision whether or not to approve the application
* They can seal the deal at the comfort of their own home.
* There is no trouble getting no medical life insurance quote on line
* No need to give insurance agents and brokers commissions as you can transact by yourself
Undoubtedly, the globe is now in high tech age. This is evidenced by the number of people around the world who are already computer literate. It is no longer surprising to find elderly using tablets and laptops. This is why insurers have jumped into the bandwagon, reaching their clients through the new medium of communication. Now even the elderly buy online term life insurance. This is convenient for them as they wouldn’t have to exert extra effort making trips to the insurer’s office. All they need to do is get it online and wait for the contract to be delivered at home.
There are people who may not have incurable medical condition but have been keeping bad vices such as drinking and smoking. If you are among them, you should think twice about purchasing no medical term life. Even if life insurance for smokers rates are quite high, it is still lower in one way or another compared with no medical term. But your best option remains to be totally giving up smoking.
Term life no medical are primarily intended for sick people and those who are over 50. But it can also apply for others who are in specific situations; for instance, those who are fond of unleashing the daredevils in them by making hazardous activities as their hobbies and individuals who are into extreme sports. Drivers who have also stained their records with numerous serious offenses can qualify for the mentioned plan as well.
Of course, there are still other alternatives for people over 50 like critical illness coverage. Regardless of the type of plan that you will buy, you have to make certain that it will meet all your requirements or you would miss the purpose of procuring a policy.
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life no physical and no medical exam term life insurance, visit his site today.