One of the most important decisions you will ever make is that of having life insurance. When you have a good cover, yo are able to rest assured that your loved ones are protected once you are gone.
When buying insurance, you can choose between a medical underwritten policy and the ones without any medical checkups required. The no exam policies are increasingly becoming popular because they contain very few restrictions, if any. The steps for getting a no exam life insurance include:
1.Determine your needs
It is very important to identify your needs when choosing a policy. If you want to take responsibility for the future of your loved ones and prevent the possibility of them having to bear the financial burden alone, you need to buy the right insurance coverage.
The things that you can consider when determining your needs include the daily upkeep of your household, including shopping, rent, babysitting services and more. In addition, you need to factor in the long-term needs including mortgage and college tuition. Therefore, if you have a 30-year mortgage you can consider buying a 30-year term policy.
2.Determine chances of getting insurance
It is very possible to be denied the medical underwritten policies if you pose a high risk to the insurance provider. The service provider could also recommend higher premiums, often beyond the reach of many people.
Therefore, if you have a pre-existing medical condition you can opt for the no exam insurance policy, which come with a guaranteed acceptance. Furthermore, if you have a phobia for needles, a blood draw and urine test or if you are unable to undergo a medical exam for social and religious reason, you can opt for the no medical exam policy.
3.Shop for insurance
Shopping for insurance can be time consuming particularly when you have to hop from one website to another, one company to another and/or from one agent to another. As a result, many of the insurance holders end up buying the first policies they come across, often at high prices.
In order to make the process easier, there are many one-stop shops available online that provide a list of products and prices offered by several leading insurance companies.
Such platforms offer an effective way of finding and comparing no exam life insurance quotes. Depending with how much you have budgeted for you can get an insurance coverage of up to $1 million.
· Apply online/by phone
To get the desired plan, you need to submit some basic information about your age, gender, weight, height, smoking habits, state of residence and career/profession. When you choose the no exam life insurance policy, no medical tests are required, although some providers may require you to give honest and accurate answers to certain medical questions. When you submit your application online you can expect to receive your approval within hours.