No Medical Exams Life Insurance vs Traditional Policies

 There is an intense debate between those that support traditional policies versus no medical exam life insurance supporters. Both sides have good arguments and we will try to present them. Nevertheless, you should not go unprotected and apply for a life insurance policy. Contracts like these have many benefits and in many cases are the only reason a family does not collapse under a financial burden.

Close up of Life Insurance PolicyTraditional life insurance policies are split in 2 main categories: term life insurance and permanent policies.  Both types are kept in force while the owner pays the premiums. However, there is a premiums waiver rider that can help you more if you are temporarily not able to pay. Traditional policies ask for extensive documents related to medical history and current medical status.

All the underwriting process is extremely slow because of this requirement. So, you will be wasting or even weeks while waiting for medical results to come. Traditional policies have the death benefit and it is presented as a source of income for your dependents. All traditional policies are easy to understand, but they are not available for certain categories of people.

The role of no exam life insurance policies is to make sure that everyone will be insured. No matter that you are old or sick, there are many chances you can get insurance and applying for no exam policies is one of them.

These policies provide the same advantages as any traditional policy. You can also add the riders you want attached to your contract. Although they do not ask for medical exams, some policies require medical records or to answer to a number of medical questions. The companies know little about you and it is normal to take measures of protection.

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