No Exam Life Insurance – A Good Policy?
No-exam life insurance is not considered a really good policy, but rather a necessary one. People that apply for this policy are not that young or healthy. They are far from being the suitable candidate for traditional policies. So, instead of remaining unprotected, applying for no exam life insurance is the best option.
However, they do get substantial benefits, even if they will have to make a bit pricy payments. If you are interested to know more about this policy and its price, you should get no exam life insurance quotes.
There are many things to be said about no exam life insurance. We all know that is pricy and the reasons for that are quite obvious. It is harder and riskier to insure a person with diabetes, leukemia or being very old. Not so many companies share that enthusiasm when the applicant has a high mortality risk.
Even companies that sell no exam life insurance will set some limitations. Persons that are declared terminally ill do not quality for this type of insurance and neither the very old senior citizens. The life expectancy is very short and companies refuse to pay stated death benefits when the insured has paid almost nothing.
No exam life insurance provides both temporary and permanent protection. It all depends on several factors that will be analyzed during underwriting. The applicant has the right to choose the policy, but the company will decide if the application is accepted or not. Usually, individuals with minor health issues choose simplified issue plans.
They provide cheaper premiums and allow the person to purchase a significantly higher amount of coverage. General acceptance plans are designed for those with more complicated health problems or for very old persons. These plans are more expensive than the simplified issue ones.
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