Cheap Term Life Insurance
Are you in urgent need of life insurance, or do you have a pre-existing medical condition that disqualifies you from getting traditional life insurance? This article discusses how you can get a cheap term life insurance policy without a medical exam.
Most life insurance policies require you to take a medical exam to enable the insurer to assess your risk of… you know, dying. From your medical report, insurers can determine your life expectancy. This enables them to determine the premium and coverage to offer you for life insurance. However, if you’re high risk (you work in a very hazardous job or have multiple pre-existing medical conditions), some insurers may reject your application.
Everyone deserves life insurance, at least for the peace of mind it offers, knowing that your family would be okay should anything happen to you. That’s why some insurers have taken the risk of issuing life insurance policies that do not require a medical exam, one of which is no-exam term life insurance.
So, if you’re looking for a cheap term life insurance policy, read on to discover the possibility and how to get it.
Can You Get Term Life Insurance without a Medical Exam?
Yes, you can get a term life insurance policy without a medical exam. However, most policies that do not require a medical exam often have higher premiums and limited coverage amounts.
The reason isn’t farfetched. Insurers require you to take medical exams to enable them to assess their risk exposure when offering you coverage. Without a medical exam, insurers will not be aware of your risk profile, which could significantly affect them. This risk uncertainty prompts insurers to charge higher premiums and offer policy applicants lower coverage amounts.
However, term life insurance without a medical exam differs from other forms of life insurance that don’t require a medical examination. Term life insurance without a medical exam is easily accessible, making it the best policy for those who need instant coverage. It also comes with other essential benefits.
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