How no-test life insurance policies can benefit you | Rare Techy

If you have loved ones who want to provide after you pass, life insurance can help you do that. With life insurance policies, your Beneficiaries Get a cash payment when you leave – something they can Use it for funeral expenses, unpaid bills or other expenses they are dealing with.

Before you buy coverage, note: Many life insurance policies require a Medical examination. If this isn’t something you feel comfortable with — or want — there are some exceptions you can explore.

If you are in the market for life insurance – or simply want to Extend the coverage you already have – A life insurance agent can help you get started with a free quote now.

How no-test life insurance policies can benefit you

Here are the benefits of these no-medical-exam life insurance policies – and when you should get them.

Fast underwriting process

Because there’s no waiting for an appointment, physical exam, or blood test, you can get a no-exam policy faster than you normally would. Other types of life insurance options (often within a few days). This can be helpful if you need coverage quickly (perhaps you’re getting divorced or need collateral loan) or you’re tight on time.

It covers all kinds of people (even those considered dangerous).

No-exam policies can be better if you have a pre-existing health condition, are a smoker, or have a risky job (like construction or firefighting, for example). With traditional life insurance policies, these factors can make it difficult to qualify or at least make your coverage more expensive.

Talk to a life insurance expert now who can help you build a plan that works for you.

It offers guaranteed coverage

If you don’t qualify for life insurance or don’t seek it (for fear of doctors, needles, or other personal reasons), no-exam insurance is a great way to provide life insurance coverage for your loved ones. In some cases, you might be able to Withdraw money from your policy Later if you need to.

It is more convenient

Life insurance policies that require exams can be a hassle. You must schedule an appointment (usually through the insurer), attend an exam, submit a questionnaire, have blood drawn, and more. When you have dependents to take care of, a busy job and other obligations, it can be challenging to say the least. No-exam policies offer a more hassle-free strategy for obtaining life insurance coverage.

No-exam life insurance also has disadvantages

Despite the benefits, no-exam life insurance also has some notable drawbacks. First, the Death benefit (which is the payouts to your beneficiaries) may be limited. It can come with high Monthly Payments/Premiums than some other types of life insurance. This is because the insurer does not have a pulse on your medical history or health status and thus takes more risk while insuring you.

Finally, some no-exam policies have age limits, so if you’re older, you may not qualify for this type of coverage.

At the end of the day, there are many types of life insurance, including no-medical-exam insurance, Whole life insurance, Term life insurance, Universal Life Insurance And Variable life insurance. If you need help choosing the right type of life insurance coverage or need help comparing insurance companies, talk to an independent insurance agent. Getting the right policy is very important to protect your loved ones in the event of your death.