The Pros And Cons of No Medical Exam Life Insurance

Pros of No medical exam life insurance:

  • Seniors can quickly have access to this policy. Unlike other types of insurance, age will not be used against you in order to contribute for a refusal. If you are not extremely old, you will surely be accepted. And even if you are old, being healthy will help you pay cheaper premiums.Insurance2
  • People with a pre-existing medical condition qualify for this type of insurance. Typically, a pre-existing medical problem nullifies all chances of being accepted. Now, you do not have to worry about this. Companies selling no exam life insurance understand the risks and will be able to provide adequate coverage.
  • Waiting time is greatly reduced. You no longer have to be stressed for weeks, waiting for medical results.
  • Applications are processed really fast. This policy has the shortest underwriting process. It only takes several hours until an application is analyzed. Most likely, the company will provide an answer in the same day.
  • There is a higher demand for this type of insurance. More and more people are willing to apply for no exam policies. Since the request is high, it is expected for companies to be more competitive with each other and try to offer the highest quality services and very attractive prices.

Disadvantages of No medical exam life insurance:

  • They are quite expensive. Now, this type of insurance is kind of expensive, with premiums costing as much as twice as the average standard premium for the same policy.
  • Not all people qualify. Even if this form of insurance is more tolerant towards all people, individuals with a terminal condition or very old do not qualify.
  • There are some strict limitations. Age and health are still influential and they determine the length of the policy and maximum amount of coverage.

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