What Is No Exam Life Insurance?

No exam life insurance is a special type of life insurance and grants quick access to coverage for seniors and people with pre-existing medical condition. We have millions of seniors and sick people in the U.S.A. and standard policies cannot provide coverage to them.

091-300x205While the basics of no exam insurance are the same as any other policy, there are major differences regarding prices, selection criterions and death benefits. If this policy is suitable for your conditions and budget, you should buy it.  Check for online quotes and compare no exam life insurance quotes.

There are 3 basic types of no exam life insurance: simplified issues no exam life insurance, guaranteed issue no exam life and burial life insurance.  Simplified issue has a maximum length of 20 years and the maximum amount of coverage is around $300.000.  You are not allowed to purchase a higher value.  In order to determine your eligibility for simplified issue, you will have to answer to several medical questions. The answer must be “no” for all questions, otherwise you will not qualify.

Guaranteed no exam life insurance is a form of permanent protection, but the maximum face value is $30.000.  Death benefits will be paid gradually to the beneficiaries. Also, the insured must not die in the first 2 years of the policy.  In order to eligible, you must not be cancer sufferer, declared terminally ill or diagnosed with HIV/AIDS.

You can be a smoker, but the premiums will be higher. Final expense insurance is the easiest way you can help the family to pay for your funeral. However, again, you must not suffer of cancer, HIV/AIDS or other terminal disease.  Seniors over the age of 90 years are not allowed to purchase it.

Although the premiums are above the average and the amounts of coverage are limited, you must buy this policy. The financial benefits that will be reimbursed to your beneficiaries far outweigh the costs.

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