Whole vs Term

One of the most appealing offers insurance companies can give their clients is the easy process of availing it. The convenience of buying term life insurance with no medical exam is what buyers are after for. Not only that, premiums attached in this type of life insurance are surprisingly low but the coverage, should we say, is quite competitive. Continue reading to learn more about this type of plan.

Types of Coverage You Can Get

You can apply online for 10 year term, 15 year term, 20 year term and 30 year term policies. These are guaranteed level premium policies. The premiums don’t increase for the periods you contracted for. In some cases they will increase upon renewal. The death benefits of these policies also remain level for the duration. They are also guaranteed level.

How to Qualify For These policies

When you are ready to buy your policy, go to your computer and type in the type of policy you want. There are several sites offering term life insurance with no medical exam. What you will find is that most of the sites that you would click are going to one of 3 or 4 sites. These carriers offer good products. All you need to qualify is to answer a few health questions and the carriers will take it from there. It usually takes about 15 minutes to get approved. If there is medical history that would be a problem, or if there is anything that may need to be clarified, it may take longer. A medical exam may be requested under such a circumstance by some carriers.

If you are between ages 18 and 65 you can apply for coverage. You can renew your policy, if you choose to do so, up to age 95.

The Amount You Can Apply For

Some life insurance companies limit the medical life insurance you can apply for to $250,000. There are others, however, that will issue between $25,000 and $500,000 coverage or even $1,000,000 depending on your age. It would be wise to look at a “life insurance calculator” before you go to the site as this would help you determine the amount you need to purchase.

Another interesting fact about term life insurance with no medical exam is that in some cases, you can actually print out your policy online. There’s no need to wait for an agent to deliver your policy.