Life insurance is one of those expenses that not everyone thinks about until they need it. These plans cover the unexpected and protect families in a time of need by providing financial compensation when a loss of life occurs. It is important for everyone, no matter what their age or health, to consider getting a life insurance policy to ensure their loved ones are taken care of after they’re gone.
No Exam Policies
Just because a company offers an option for no medical exam life insurance, doesn’t mean that potential customers can’t be denied due to their health. Often, these companies require customers to fill out a mandatory health questionnaire that will determine their eligibility and premiums. Though much less intrusive and far less comprehensive as a physical exam by a physician, these questionnaires and troublesome for people with existing health conditions that make obtaining coverage difficult. While not all conditions will exclude you from coverage, some of them may raise the premium depending on the requirements of the company.
Guaranteed Acceptance Life Insurance
Mostly offered for individuals above the age of 55, these programs have become increasingly popular in recent years. With higher premiums than other traditional life insurance plans, these options are starting to become more widely available to different age groups. While coverage rates will vary just like any other plan, these are still a great option for those looking for the protection that a quality life insurance plan offers.
No one has ever been able to predict the future, investing in a life insurance plan offers guaranteed protection and peace of mind some of life’s most difficult times. Be sure to do your research and shop around before committing to any insurer to make sure that you are getting the best coverage possible for you and your loved ones.