Life insurance with no medical exam
Purchasing a life insurance without a medical exam offers advantages and also disadvantages to the buyer. There are a few things that you will need to consider before applying for an insurance.
Usually the advantages are for healthy individuals that need coverage as fast as possible.
These insurances have reduced insurance coverages, but more and more insurers offer up to $500.000 in coverage.
This is a tempting offer because the ease of purchasing the insurance. You can even pay with a credit card.
The bad part is that these insurances are more expensive than normal ones. Individuals with health problems should consider buying an insurance with a medical test. Also old people should compare the costs of the two insurances.
Every policy has a two year period of contestability, meaning that any misrepresentation of your life style can invalidate your policy and leave the beneficiaries without a coverage. If you cannot answer the qualification questions appropriately, then you should think of another insurance.