Life Insurance No Exam Policies - The Ins And Outs
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by: melsmithen@gmail.com
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When you decide to buy a life insurance policy, the first question that comes to your mind is "Can I get cheap life insurance rates? Life insurance rates are also called the life insurance premiums. These are fixed amounts that need to be paid to the insurance company at regular time intervals. The life insurance rates may be affected by the following factors:nn1. Smokingn2. Medical recordn3. OccupationnnSmokers pay much higher life insurance rates than their non-smoking counterparts. The life insurance rates have been fixed on the high side for the smokers because it is likely they will die earlier than non-smokers. Hence, a smoker must quit as soon as possible if he expects up to a 20-30% cut off in his life insurance rates.nnIf a person is a victim of a fatal disease, he is not likely to get a life insurance policy. Even patients of chronic heart disease find it difficult to buy insurance policies. Some companies do offer heart patients insurance policies. But they charge exorbitantly for these policies. nnOne's profession also plays an important role in fixing life insurance rates. For instance someone who is working on a ship and deals with harmful gases or chemicals, he will pay higher premiums. Perhaps a job change from a dangerous one to a more sedate one can bring down your life insurance rates. nnIf you want to go for life insurance no exam policies, then you will land up paying more premium than the regular. For life insurance no exam policies, you don't need to give a medical examination; so the rate of the life insurance is relatively higher than the life insurance policies that need medical examinations.nnMost of the life insurance no exam policies are hassle free policies and you get the policies within few days or weeks. First, you need to see if you qualify for such policies. There are many terms and conditions associated with these policies so remember to read the fine print, which is mostly neglected. The major advantage of a life insurance no exam policy is that you don't have to deal with pushy life insurance agents and there is zero paperwork. nnThe life insurance no exam policies may also be downloaded from the internet - but do get a hard copy of this policy. For this, you do not need to go to the life insurance company. Instead, just take a printout from your home or office. This, though, you may do only after you make the first payment.nnAlso, there are restrictions on insurance coverage with life insurance no exam policies. In order to increase the coverage period, it may become necessary after all to go for the medical examination. Some insurance companies have mentioned benchmarks for medical examinations. Like for example if you are less than 40 and your coverage amount is not more than $100,000 then you do not need a medical examination. nnIf the medical examination has been spared, that does not mean you will be spared health related queries. Answer them truthfully. Lies may be caught out later. nnThere is a variable called contestable period for most life insurance companies. The length of this is 1-2 years. Within in this period, your application must provide all your medical details failing which the company may change or altogether nullify your policy. Hence, if your requirement is low life insurance rates, do not opt for life insurance no exam policies and go for one that involves medical examination. nn
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