Simplified Issue – Get Life Insurance Without any Medical Exam
Simplified issue life insurance coverage may be the ideal choice for you if you’re relatively healthy and wish to get insurance quickly. No medical exam is required for coverage, so you can often remove an insurance policy and start your coverage exactly the same day.
Since you don’t undergo a medical exam, the policy is a higher risk for insurers so typically, your premiums will be a little greater than you would pay if you underwent a test and passed with flying colors.
If you have pre-existing health conditions, simplified issue is not usually advised. You will be asked a series of health questions when you remove your policy and when you have a terminal illness or another serious medical condition, your coverage may be declined.
Simplified issue is different then guaranteed acceptance so it’s not appropriate for those with medical problems, although it continues to be often agreed to seniors.
They are considered non-medical policies and are called simplified issue since they’re issued quickly and don’t undergo an extended review by the underwriting department from the insurance company. Insurance can be offered as term or whole life. Term simplified issue may range in amounts up to 0,000 while whole life might be around 0,000.
If you want insurance in the high six figure area or higher one million dollars, then simplified issue wouldn’t be the best option. One of the disadvantages of simplified issue is that the payout amounts are lower as the premiums are higher. Another disadvantage would be that the payout benefit is often graded. It might take a few years for the beneficiaries to be entitled to the entire quantity of your policy. Should you die soon after getting a simplified issue policy, your heirs will probably not receive the full value, but a graded amount, based mostly on the number of premiums you’ve paid.
Still, a simplified issue policy is actually a convenient and quick choice if you wish to take out a small policy to pay for your final expenses. This is especially true if you are pre-planning one last services you to ultimately spare your loved ones the stress of planning your funeral and be worried about how to pay it off.
You can purchase a simplified issue life insurance policy online. Your present insurance provider may also be in a position to offer you a policy. Whenever you search online though, it is possible to check premiums and stipulations so you can make sure to obtain the best policy for your finances at a price you really can afford.
Remember, simplified issue does not mean guaranteed acceptance as your answers towards the medical questions about the application will be assessed. For those who have medical problems you might want to locate a different kind of policy. When the price of premiums is a concern of yours, you may want to take out an insurance policy that subjects you to a test so you can get the lowest price. A simplified issue life insurance policy isn’t for everyone, but when it’s a good match for you, it may give you and your family peace of mind concerning the future.
About the Author
Danilo has been writing articles. Not only does this author specializes in Simplified Issue, you can also learn and get more information at Emergency Medical Alert which reviews and lists the best medical alerts available today.