Reader’s Question:

I am planning to acquire a life insurance plan but I am getting anxious about taking the medical exam. Is there an available life insurance with no medical exam instead?

Adamson

Fullerton NE

Yes. There are available insurance companies that offer life insurance with no medical exam, especially online, to their potential clients. However, these kinds of life insurance policies may be more expensive than the regular ones.

The main reason why life insurance companies require their clients to undergo a medical exam is to determine how much premium to charge the client. If an insurance company has determined through the medical exam that you are more likely to live long, they would charge you with a lower premium since you will be around longer to make premium payments. On the other hand, if the company has assessed you to likely die at an early age, it will charge you with more premiums so that they could collect more from you at early stages of your policy year.

As for life insurance with no medical exam, the company offering it is getting a great risk to give you the insurance coverage by just relying on your disclosure about your health and medical conditions. All you have to do is to truthfully answer a few health questions that can be completed in just a few minutes. Your answers will help the life insurance company determine whether you will be eligible for the insurance coverage. Life insurance companies online offer varying amounts of coverage from $5,000 to $500,000. The monthly premium depends on your current age, among other things.

Some people prefer buying the life insurance with no medical exam because it is convenient and speedy. They will be fully covered within a few minutes after answering the health-related questionnaires as long as they are eligible for the insurance policy. It is that fast and easy. In addition, for those who keep on postponing their purchase of the life insurance because they don’t have time for the medical exam, the no exam plan is a good option.