Firstly, let us look at why people avoid taking an insurance policy. Most people think about only generating profits and seldom about safeguarding their assets. In fact, some even consider the thought of having an insurance policy is just a waste of money and then there are some who mix both insurance and investments and buy ULIPs. They invariably have a low insurance cover and only look at the returns generated the insurance scheme.
Do not want to undergo a medical exam
Those who are seriously considering buying a policy ditch the plan at the last moment to avoid the medical exam and do not want to waste time by fixing an appointment with the doctor. However, today you can buy a policy even at the age of 40 and you can instantly get yourself a life insurance policy. This is one of the reasons to buy a life insurance policy without a medical exam.
You could be lucky enough to get an insurance cover even with medical conditions
Once you attain the age of 50 it is tough to get an insurance policy. This is one of the main reason why experts suggest people to buy a life insurance policy when they are young. Still, some insurance companies without medical exam understand that it is up to the customer to choose his financial protection irrespective of the age and gender. So if you are one of those in the age of 50 you can try to an insurance plan with no medical exam. The premium might be a little costly, but you might get a life insurance policy issued.
Do not want to undergo a medical exam
Those who are seriously considering buying a policy ditch the plan at the last moment to avoid the medical exam and do not want to waste time by fixing an appointment with the doctor. However, today you can buy a policy even at the age of 40 and you can instantly get yourself a life insurance policy. This is one of the reasons to buy a life insurance policy without a medical exam.
You could be lucky enough to get an insurance cover even with medical conditions
In spite of the best intentions to have an insurance policy and all the valid proofs, insurance companies might still reject your application. You might even have a good financial status to pay the premiums but insurance companies might still not issue a life insurance policy to you. In some cases, the medical condition could not be threatening at all but no matter what you are suffering from, the risk is higher compared to a normal and healthy person. However, if you buy a life insurance without a medical exam, they might be a little more tolerant and you could just get a life insurance in your name.
You will get an insurance even if you are a senior citizenOnce you attain the age of 50 it is tough to get an insurance policy. This is one of the main reason why experts suggest people to buy a life insurance policy when they are young. Still, some insurance companies without medical exam understand that it is up to the customer to choose his financial protection irrespective of the age and gender. So if you are one of those in the age of 50 you can try to an insurance plan with no medical exam. The premium might be a little costly, but you might get a life insurance policy issued.
Easy to apply and fast processing
Life insurance without medical exams require very simple details and are easy to fill up. They require minimum documentation and you do not need to take up any exam. In fact, you could get an insurance policy as soon you fill in the application form.
Choose from plenty of options
You can also buy these life insurance policies online and you get a variety of insurance plans to choose from. The best part about these policies is that they are cost-effective because there is no agent’s commission involved and the premiums are cheap when compared to any other type of life insurance.
However, there is equal responsibility on the insured person as well to fill in the correct details and completely understand the terms and conditions of the policy.
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