A Life Insurance No Exam Policy In Easily Explained Terms
Article by David Livingston
Taking a life insurance policy, considering the financial security of your family is a very good decision to make. It will help you keep your family in good stead financially even when you are gone and will equip them to face the huge tasks of paying the home loans, taxes, children education etc..Changes such as marriage, divorce, arrival of a new baby happen in every family and your life insurance policy has to be updated to include the new people you have added to your family. The money you are putting into the life insurance also has to be upgraded to be sufficient for the people of your family. It should be the financial blessing to your household when they do not have the support of your monthly income. The life insurance companies have a preferred and standard class category depending on several factors.
Your age, health status, family history of disease, manner of life and work will determine which category you will be considered for while applying for a life insurance policy. The life insurance policies have a process and the applicant should sit for a complete medical review to prove his health status and ensure that he would be quite healthy for a long time. Your hobbies and driving behavior can also influence which category you will fall into. If you are the rash driver type always getting yourself into trouble on the road you may have to opt for the preferred category as you have the risk of getting into an accident more often than a person who drives safely. If you are an immigrant without a permanent visa you may have to go for the preferred class of life insurance.
Life insurance no exam is one of the life insurance policies which one should prefer if he/she has no time to go under the medical scanner or does not desire to do so. You can avail this policy completely eliminating the need of having to go through the procedure of medical examination just based on the details you provide to the company orally. But it is certainly costly as it provides the benefit of avoiding the health examination and also places the insurance company at certain risk.
Term life insurance policy is one of the most accepted policies by many Americans. This is because it costs lesser and offers reasonable coverage. This policy can also be availed without having to undergo a medical examination. It is otherwise called as instant term life insurance because it can be got in an instant online itself and the processing time is very limited. All you have to do is to fill up an online application or communicate over phone with an insurance personnel. You will have to answer a questionnaire which will cover areas such as age, health conditions, habits and lifestyle. And, when your application is processed you can have your policy in no time.
One must think about the loved ones and how would they manage to make ends meet once you or the chief wage earner of the family passes away. A lot of young adults do not think about buying insurance. They only think about it once they reach the middle age. If life insurance is bought early in life, it can save you hundreds of dollars of premiums because the insurance companies offer lower insurance rates to people who are young and are expected to live longer. So purchasing insurance early in life while you are younger and in good health helps in saving a lot of money in insurance premiums which you would be spending on when you are older and not in very good health.
A life insurance policy is no doubt a pillar of support in case of any unfortunate event of accident or death of the chief bread winner of the family. Certainly no one desires or looks forward to experiencing such unfavorable incidents. But they cannot be totally avoided and may occur suddenly without prior notice. Having a life insurance policy means you are all geared up to face any such happening. Term life insurance policy is an uncomplicated one which allows the policy holder to pay off his home loans and taxes. It comes with cheaper premium thus making it accessible for many people.
To decide on the policy that best suits you with its time span and coverage, be clear on what you want for yourself and your family in the long run. Make plans for your children’s future education, home loans or other loans you wish to take and come up with an approximate money value that you will require to achieve this. Based on this decide your policy. Life insurance is certainly a very important part of planning and preparing for the financial security of your family before it is too late.
About the Author
Article by David Livingston of EQuote.com, a website with the best life insurance quotes and affordable life insurance information in the country.