No Medical Life Insurance: Get Covered Fast And Easy

Life insurance, like many of our life decisions, is a deeply personal decision. Everyone out there who has made the decision to seek life insurance coverage does so because of a desire to protect something dear to them. Whether that be family, friends, or a business, life insurance remains one of the most effective ways to ensure that your loss won’t burden those around you.

Income Replacement - Without you around to pay the bills, how will your spouse or children continue to provide for themselves? Life insurance can provide a lump sum benefit that ensures that your family’s quality of life is not affected.

Debt Protection - Leaving your loved ones with burdensome debt can cause considerable financial hardship. Your coverage can help ensure that your debt does not outlive you.

Cover Final Expenses - Losing a loved one is hard enough without worrying how to cover funeral costs and legal fees. For seniors in particular, life insurance is an effective means of guaranteeing final expenses will be covered.

Covering Capital Gains Taxes - If you have something you wish to pass on to the next generation, it’s wise to make sure your life insurance can cover the taxes your beneficiaries may face when passing down property, investments, or cherished mementos.

Your life insurance coverage amount will depend on:

what you need your benefit for
for how long time you want it to be used
and how many savings and debts you already have.
Your family's circumstances should be your primary consideration. Start by assessing the number and ages of your children, as this directly impacts the financial support they'll need for daily expenses and education in your absence.

Next, evaluate your debt situation. Consider your mortgage and other outstanding debts, and determine how long it would take for your loved ones to settle them.

Additionally, remember to account for your final expenses and burial costs.

Typically, when applying for a life insurance policy, you would be required to submit to a medical exam. What that medical exam entails for you varies depending on the provider. However, you would be required to undergo blood tests, a doctor’s examination, and other physicals which determine what policies you are eligible for, and what your premiums would be.

No Medical Life Insurance is life insurance that can be bought without the need for a medical exam. Typically, these policies fall into one of two categories: Simplified Issue Life Insurance and Guaranteed Issue Life Insurance.

Simplified life insurance replaces that medical exam with a series of health questions that are included on your life insurance application. This may range from several dozen questions about your medical history to a simple declaration that you do not currently suffer from a serious illness.

Guaranteed life insurance is a type of policy that guarantees you will be accepted, as long as you meet the age requirements. You cannot be denied for this type of policy, making it an ideal solution if you would be denied coverage due to health or insurance history.