5 Great Tips Before You Pick A No Medical Exam Life Insurance

The many terms and terminologies used by life insurance companies and agents can be confusing for most of the people. People looking to get information about insurance policies for the first time need to spend some time before they start understanding the many details involved in them. Among the many different types of insurance policies that are done against the risk of your health is the no medical exam life insurance. This is the type of insurance policy where your beneficiaries will get the insured amount if you pass away when the insurance policy is still in place and its duration hasn't expired.

This is a termed life insurance policy where you are covered only for a specific duration. If you are able to live through that duration without facing any serious medical conditions and using the money of your policy, the policy will expire. People choose this type of insurance policy when they don't have time to go through medical exams that can delay the approval process for months. The premiums are definitely higher for this policy since the insurance company is on the unsafe side after approving the client without a medical exam but there are many other benefits to this policy.

If you are looking for a no medical exam life insurance, here are the top 5 tips for you to choose the best one:

1. Stay Healthy And Adopt Healthy Habits

It's true that the biggest advantage of no medical life insurance policy is that you will not be asked to go under strict medical exams, however, your fitness still matters. The company will give you a questionnaire and ask you to fill it out with information related to your health sincerely. If you smoke, drink alcohol and have other habits that put your life and health in danger, your premiums will be high. The more unhealthy habits you have the higher your premiums will be. Furthermore, your obesity or extreme skinniness can also be the deciding factors in taking your premiums higher or lower.

2. Be Honest When Providing Health Related Information

Even the best no medical exam life insurance can turn into an unexpectedly bad insurance policy if you don't provide the information about your health honestly. The questionnaire you are asked to fill out must be filled with accurate information. If you pass away and the company notices inaccuracies in the information you provided on the form, for instance, you said you didn't smoke but the company found out that you did, your insured amount will be in trouble. Eventually, your beneficiaries might have to fight to get the insured money or lose everything just because you didn't provide accurate information.

3. Online Resources Are Your Friends

When it comes to choosing an insurance policy, especially no medical exam life insurance, online resources are your best friends. You can find expert reviews on the internet and customer feedbacks that will tell you the best insurance policies and insurance companies out there. Furthermore, if you need to know the details of the policy and how its rules and regulations work, you will find a lot of helping material on the internet. Don't forget to spend some time researching on the internet before you pick a policy.

4. Decide The Factors Most Important For You

Don't fall for the big claims made by insurance companies. Almost all the companies will present themselves as the best in the industry but that's not the case. You have to know your requirements and only then you can choose the best policy. You must decide the factors that are most important for you. Are you looking for a longer duration of the policy? Are you looking for a policy with the easiest and fastest approval process? Are you looking for a bigger insurance amount? Ask yourself these questions, consult with experts and talk with your friends to know your best needs.

5. Always Compare The Quotes But Don’t Lose Focus

First, it is extremely important that you compare the life insurance quotes given by various insurance companies. Remember that you can know the status of your online application within a day and you can fill out half a dozen application forms in a couple of hours. You can compare the quotes given by the companies you have filled out the forms for. However, you must not lose focus here. The company with the lowest quote might not be offering the options that you need. What if you are looking for a policy with insurance amount of up to $400,000 but the company is offering only half of it? Keep your needs in mind and make sure you ask all the necessary questions from all the companies instead of falling for the insurance company with the lowest quote.