Term Life Insurance With No Exams
Term life insurance with no exams is quite popular since limited year protection is relatively inexpensive up until age 50. Term life insurance with no medical exam can be attained easily through the mail or through the purchase of a policy via the Internet. Certain health and medical questions will be asked, but as long as the applicant answers honestly, when verified, the policy will remain in effect and for the same rate originally purchased for. A policy without a medical exam is for insurance purposes only, not investment or retirement planning.
The insured will purchase a term life insurance with no exams policy for a period of one to 30 years. Upon the death of the policyholder, the beneficiary will receive the face value of the plan if the policyholder passes away within the specified term period of coverage. The suggested face value policy amount is 20 times the annual income needed of the beneficiary. For example if a spouse works and makes $35,000 per year, then the suggested policy amount would be $700,000 for the beneficiary (assuming it is a spouse or dependent). Typically by having a policy with a high face value, the beneficiary will be able to invest the amount and live off of the interest at virtually the same type of lifestyle they were accustomed to.
This is demonstrated as follows: given an average 5% interest return on investment, the beneficiary can invest the policy funds and live off the interest ($35,000 per year), without touching the principle. Surprisingly, a term life insurance with no exams plan for up to $1 million is lower than expected. Term life insurance with no medical exam policies are inexpensive because the insured has to pass away while the policy is in effect (within a maximum of 30 years). There aren't any premium returns (except with similar term polices which cost more), and no investment abilities. Hopefully, the insured has other retirement investments in place, because a term life insurance with no medical exam policy does not offer a retirement investment component.
No matter what type of term life insurance with no exam is chosen, a Christian should use their God given wisdom and understanding to make any financial decisions. "Through wisdom a house is builded; and by understanding it is established." (Proverbs 24:3) Christians interested in purchasing term life insurance with no exams should carefully research the agency considered before purchasing a policy. Choosing an agency with an "AAA" rating for service and value is important. The insurance agency should also be insured in case of business closure.
Term life insurance without a medical exam allows consumers to receive a policy without visiting a doctor. This is one of the cheapest forms of coverage available because it is basically considered temporary. This is especially good for younger consumers wanting a plan of coverage, in the event of an untimely death. Establishing a good policy will allow the family to have peace of mind. Taking advantage of term life insurance with no medical exam will be easy for the individual to pursue, with no need to visit a doctor for approval. Researching this topic and gathering information will allow the consumer to determine if this is the best option for their situation. "And wisdom and knowledge shall be the stability of thy times, and strength of salvation: the fear of the LORD is his treasure" (Isaiah 33:6).
The Internet seems to be the best and fastest way to find help with this topic. With the ease of the Internet, and a few clicks, the consumer can discover numerous websites which offer term life insurance without a medical exam. Because of the vast amount of competition and the fact that life expectancies are now longer than they used to be, term life insurance, is at an all time low price. Still, premium amounts do vary. When checking out particular providers, the individual should also make sure their financial ratings are good. This information can be found through the Internet, as well.
Coverage of this kind is also known as guaranteed insurability. Taking out a policy of term life insurance with no medical exam saves money because the consumer will not have to pay a doctor for a medical exam. This type of policy affords a larger amount of people the opportunity to receive a reasonable policy. Term life insurance without a medical exam gives a person several different options as to what type of coverage they want and need. With such ease in obtaining insurance, there is really no reason why the individual should not pursue coverage immediately.
This coverage option is really no more difficult to obtain than any other type of insurance. The individual will simply need to make a few inquiries and fill out a few forms. Term life insurance with no medical exam can make life easier, by knowing that a family is protected when death occurs. Sometimes thinking about such things is difficult, but a family will be grateful for this decision in the event that the unthinkable occurs.
Term Life Insurance With No PhysicalTerm life insurance with no physical exam allows prospective term coverage buyers to purchase a policy with out worrying about their premiums being based on their health status. This coverage is a great option for elderly customers, customers with long-term illnesses, as well as individuals employed in high-risk jobs such as the military, police department, or fire department. It is easy to purchase and qualify for from many different insurance companies through the United States.
When purchasing coverage a person can choose a policy that will last for ten years, twenty years, or thirty years. Some policies will allow parents to purchase a term life insurance with no physical exam policy at the child's birth and it will last until the child is twenty-one. When they reach the age of twenty-one the child then has the option of purchasing additional coverage or enrolling in a whole life insurance plan. This may include adding a spouse or child if one or the other is a life factor. Of course when a child is born the parents are not going to purchase coverage for future spouses and children.
Purchasing for a child at birth a policy is a very wise decision. If the child were to become chronically ill, physical disabled, or mentally disabled they would be guaranteed coverage until they were of legal age. Some children's policy all the child when they are twenty-one to receive additional coverage regardless of their mental or physical condition. Purchasing term life insurance with no physical exam when the child is very young will ensure that the child will be able to have it for as long as he or she wants. At any time a child, when he or she turns 21 can add or eliminate coverage as he or she seems fit. However, this does not mean that the child can "cash in" on the policy when he or she is able to control the coverage amount.
Mothers and Fathers should carefully plan for their children especially financially and making sure the child has adequate health coverage as well. God instructs men to, "manage his own household competently, having his children under control with all dignity." God wants mothers and father to manage their home and their children as well as make wise decision as they raise the children. Buying term life insurance with no physical exam should be one of the many decision made on behalf of children and personal lives.
Term life insurance for elderly is designed to protect a family's needs in the event of the death of the insured. This is a flexible insurance policy for varying amounts that can help cover burial expenses or provide additional death benefits for dependents. Finding the right policy depends upon the current financial situation of the person who is seeking the coverage and what the long-term goals are.
While there are many different types of coverages, they generally fall into two categories, term and life. Term life insurance for elderly policies are just as the name implies, it is for a set period of time, generally from one to 30 years. They are sometimes the less expensive of the two types of policies, especially for young individuals, such as those who want coverage while they are raising children. However, term life insurance for seniors will carry much higher premiums than those for young adults, and the length of the time period for elderly individuals will be less than what is available for younger individuals.
When considering term life policies for seniors, be aware that they do not build equity as permanent policies do. With a policy for the elderly, what's being paid for is simply a death benefit that can be paid to beneficiaries if the insured dies during the policy period. With permanent (or life) polices, the premiums can fund the death expenses and/or accumulate cash value that can be withdraw if so chosen.
One of the key features to investigate when comparing term life insurance for seniors programs is whether they offer renewal options. When the insured period is up, and coverage is still desired, a whole new policy will need to be taken out. Some term life insurance for elderly policies have a renewal option where it can be automatically renewed. Generally, a medical exam, answers to a new lifestyle questionnaire, and a raise in the premium will also be needed in order to renew. Additionally, when comparing term life insurance for seniors policies, ask whether the premiums are fixed for the full term of whether they adjust. Many insurance policies for the elderly have premiums that adjust every few years, which can significantly affect the amount that will need to be paid.
Ask about these and other features when making comparisons and attempting to decide on a policy. Often, it may be more affordable to investigate permanent insurance policies, because personal equity can be built up on with these policies. Also, compare term life insurance for elderly plans regarding accelerated death benefits, disability waiver of premium, and accidental death benefits. When shopping around, price is not the only factor that needs to guide the decision process. Evaluate current and future needs and choose the best plan for the family's needs. "Teach me good judgment and knowledge: for I have believed thy commandments." (Proverbs 119:66)