No Medical Exam Life Insurance

Life insurance is a product that comes in numerous forms and variations. Purchasing such a financial safety net is a very important action and ought to be treated as such, especially since recently more and more people have decided to take invest in an annuity. The insurance marketplace took notice of the increased demand of online life insurance quotes and designed new products meant to meet the needs of all audiences.

Over-50-Life-InsuranceLife insurance comes in two standard forms: permanent and term. Permanent insurance, commonly referred to as whole life insurance, is a form of unlimited protection which keeps you insured until the day you die. It accumulates cash value over time, thus guaranteeing a pay-out. As most insurance policies expire when the insured reaches 100 years, if you purchase whole life insurance you will receive the face amount of the policy if it expired.

Term insurance is ideal for people who are starting families or who find themselves in transitory financial difficulty, such as a house mortgage. Term insurance is significantly cheaper than whole life, while being equally efficient. The catch is that term insurance does not guarantee a pay-out. In other words, if you outlive your policy (which can stay in force for a maximum of 30 years), you won’t be entitled to receiving your money back. Unless you renew your annuity or buy return of premium insurance.

If you believe that your current health condition might obstruct your pursuit of the ideal life annuity, you can always choose to buy no exam insurance such as guaranteed acceptance or graded benefit life insurance. These policies are, however, very expensive and because of this reason we recommend that you keep them as a last resort.

For more information about no exam life insurance and for access to our free online quote engine, all you have to do is click here! Read our posts and remember – the ideal life annuity might be waiting just around the next virtual corner.