Buy No Medical Exam Life Insurance for Elderly Parents!

As we get older, our family changes more and more. We are getting married, we are adding new family members. Our parents are also getting older and at a point in life, the roles reverse. It is our time to take care and protect our parents.  It is a moral responsibility that must be taken seriously.

happy-familyIf you want to keep your parents safe, buy no medical exam life insurance for elderly parents. If you also have children, you probably realize that the last thing you want is to be a burden for your children.

Elderly persons are not that eligible for standard policies. If they have more than 60 years, the chances of being accepted under standard policies are pretty low. A great idea is to apply for no medical exam life insurance plans. Even more, guaranteed issue life insurance plans provide automatic acceptance for old people.

So, you will be able to take care of the final expense bill and other remaining debts of the parents without endangering your financial security.

Many companies provide automatic acceptance for persons between 50 and 80 years old.  The application is simple and parents will not have to undergo medical examination and wait for results.  In some cases, the applicants will not even have to answer any medical question.  The underwriting is typically very simple and it lasts less than half an hour.

Companies selling no exam life insurance provide both permanent policies and temporary protection. However, the amounts of coverage are not that great. Typically, they are limited to several tens of thousands of dollars. Also, companies pay only a limited death benefit if the person dies within the first 2 years of the policy.  Making smart choices now will financially help you later and means more peace of mind for everyone involved.

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