People consider buying life insurance at different points in their lives. This decision is often preceded by some kind of event, like purchasing a new house. For some people, however, they quickly find out that pre-existing health conditions, or other factors, make it difficult for them to get the best life insurance with no medical exam.
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Let's take a closer look at no medical life insurance and the reasons it may work for you.
You want to avoid a medical exam
There are plenty of different reasons why some people avoid medical exams. A simplified issue no medical life insurance policy has a series of questions, and a guaranteed issue policy has no questions. Both do not require a medical exam.
Your physical or medical condition keeps you from purchasing traditional life insurance
Another reason for not purchasing traditional life insurance can simply lie in the state of your health. If you have a condition that can evoke some additional health complications, you will probably be denied coverage. Your weight and smoking status are also very important factors that you should take into account.
The coverage has an age limit that you are not able to meet
Almost every standard life insurance company will not give new policies to anyone older than 75. No medical life insurance, on the other hand, offers life insurance for seniors, and it does not have an age limit. Additionally, you can purchase funeral insurance to cover your final expenses.
You can't get coverage because of an existing pre-condition
Traditional life insurance companies can't provide you with coverage if you suffer from severe conditions like cancer, HIV, diabetes, multiple sclerosis, etc. No medical life insurance offers different quotes, depending on your medical condition.