No Medical Exam Life Insurance – The Future of The Insurance Industry?

Many insurers predict that no medical exam life insurance represents the future of the insurance industry. Some people will argue these bold claims, but there are reasons to think that no exam life insurance will have a special place in the future  This policy is well adapted for the needs of everyone and it is a hybrid, presenting features from multiple policies.

OLDER-COUPLE-LOOKING-AT-InsuranceIt is highly flexible and can be quickly modified by insurance companies to adapt to their rules and conditions. No exam life insurance is a novelty, but it must not be underestimated.

No exam life insurance covers a broad spectrum of people and accepts as clients many categories of people with high risk. Those categories are considered unsuitable for life insurance, from the standing point of traditional insurers. Having a serious disease or being too old is the most common problems that make a person ineligible for traditional life insurance.

By accepting these people, no exam life insurance is one step further than the rest of policies. It will have more clients and only in U.S. we are talking about several millions of people that can now benefit of coverage.

However, the main problem of no exam life insurance is the current price and makes it inaccessible for those with low income. But things are about to change. It is predicted that more companies will adopt this policy and these will lead to a fiercer competition. And we all know that competition determines companies to offer higher quality services and cheaper prices.

Even if medical exams are not compulsory, health status will still influence the price.  New medical discoveries will enable new treatments. A consequence of that will be that insurance companies will lower the prices for clients with diseases that become curable. And since companies selling traditional insurance do not accept clients with those diseases, it makes sense to apply for no exam life insurance.

Visit our webpage for more information and free online life insurance quotes. Visit our Homepage!