Overview of No Medical Term Life Insurance

For those who lead a busy lifestyle, there may not be enough time to fit in the medical exam that many life insurance providers require. You can easily avail of no medical term life insurance whether or not you have a pre-existing medical condition you feel may cause you to be turned down for a policy. One thing you should realize if this fits your individual circumstances is that the rates, though affordable, are higher than those charged for life insurance policies that do require a medical exam.

No medical term life insurance allows you to purchase a policy mush faster and in many cases you can do this online without ever having to speak to an agent. All you have to do is complete a short online questionnaire that asks about your age, gender, weight and height and your smoking habits. Each of these factors helps to determine the premium costs of your policy. The length of the term and the amount of coverage you want to have are other factors that enter into the equation of determining the final cost.

If you do have a medical condition that is not mentioned on the questionnaire, then you have a greater chance of being accepted for no medical term life insurance. Some of the insurance providers do assume that because you are looking for this type of insurance policy you do have some kind of health problems and ask you to describe the nature of your medical condition.

Depending on what this is, you may be turned down for life insurance even if it doesn't require you to have a medical exam. For example, if you have a terminal illness and you have to disclose this in the questionnaire, you will likely be turned down. On the other hand, if you do have a medical condition, such as high blood pressure and are taking medication to keep this under control, there is a good chance you will be approved.

There are also facets of no medical term life insurance that of which many consumers are not aware. You do have to read the fine print on the quote for coverage that you receive because many providers do have a qualifying period, such as one or two years, during which they will not pay out the death benefit if you pass away due to medical conditions specified in the policy. If you do have a pre-existing medical condition that you didn't disclose at the time you took out the policy, some of these companies reserve the right to cancel the policy.

You may not be able to get as much coverage in terms of the amount of money you leave to your beneficiary with no medical term life insurance as you can with a standard policy, but having some life insurance is better than not having any at all. It will give you peace of mind in knowing that your family will have financial protection and be able to pay for your funeral expenses, which can place a huge burden on families.

The best option in finding no medical term life insurance that meets your needs in coverage and fits your budget is to shop online and compare the rates of the various companies. It costs nothing to request a free quote and you are not under any obligation to purchase a policy from any of the providers that provide you with a quote.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in finance, business, and different types of life insurance policies. For free, online life insurance quotes, please visit http://www.equote.com/.