Find Out More About Getting Life Insurance Covers Without Taking Exams

Many people do not like speaking about life insurance. This is especially the case for the elderly. Most people shy away from these policies since they meet a long list of requirements usually provided by insurers. However, it is now possible to get these policies through certain ‘no-exam’ schemes. Wholesale insurance makes it possible for a person to get one of the various options of insurance policies that do not need an exam. Speaking to an expert in the trade or a broker is the fastest and best way to decide the most appropriate insurance policy for one’s specific situation.

In normal circumstances, an applicant goes through a thorough medical checkup to get prove of his or her insurability before the broker can approve his or her universal, whole or term-life insurance. Even so, it is possible for one to get policies like the “term life insurance with no medical exam” policies and several other forms of similar covers including:

1. ‘Graded benefit’ life insurance- This does not involve any questions about one’s health nor does it need anyone to go for a medical checkup. People who are in their mid-ages and beyond are the main users of this scheme. However, buying and making payments of this policy is more complicated than others are.

2. ‘Guaranteed issue’ life insurance- This is also known as ‘guaranteed acceptance’ life insurance. It does not need one to go through a medical exam nor ask any health questions. This kind of insurance rarely turns people down.

3. ‘Simplified issue’ life insurance- This form of insurance policy does not entail a medical checkup. Nevertheless, the insurers often ask the buyers to give some medical information verbally, during the process of application.

There are many reasons why people buy policies like ‘term life insurance without medical exam’. One reason is that the application process is quick and simple. Normally, it takes weeks or months before regular insurers can issue a policy to their clients. However, with a shortened process, no-exam insurances can be working within a matter of days. Most people find this to be very practical, since you never know what will happen in the future.

Another benefit of buying insurance policies that don’t need exam results is that they enable people who would otherwise be insurable to get cover. Most ordinary insurances deny people life cover because of advanced age or health complications. These people can get their cover from these types of insurances. These are great policies for those who are aware that their end is near. They can use benefits from these policies to cover funeral charges and other expenses. These policies are also great options for people who are uneasy around needles and doctors. Usually, insurers issuing these kinds of policies charge more than regular insurers to cover any risks.