Certainly, term life insurance with no medical exam may seem appealing to you if you hate the time consuming underwriting process of a regular policy, with strange doctors poking and probing you, and an eager agent grilling you. You may also find this kind of life policy attractive if you know you are not very healthy, and a lab work may reveal certain conditions that will cause you to pay higher premiums or lead to a decline altogether. Nevertheless, this kind of policy, while lucrative may not be for everyone. Learn about these policies, and if they are right for you.
Qualifying for no medical exam life policy is not automatic
Just because there is no medical examination conducted by doctors, it does not mean you automatically qualify for this policy. You have to be at least in decent health for the company to approve your policy. Most insurance companies will not issue out a life policy without the applicant filling out a medical form first. This form enquires your basic medical history with very few questions. It will take you minutes to fill it out and be on your way to getting a policy.
While filling a medical form is simpler and easier than a full medical exam, it may actually contribute to higher premium rates that are uncalled for from the insurance company. For instance, your family may have a history of heart disease and high blood pressure, but you have been engaging in high-intensity cardiovascular exercises for many years. The medical form will only highlight the negative part, which will certainly raise your rates. Had you subjected to a medical exam, the fact that you have a history of these conditions in the family would have been mitigated by the results of the lab work.
Preparing for a medical exam
When you are purchasing a normal life policy, a full medical exam is mandatory. When buying a such a policy, you can volunteer for the medical exam even if it is part of it, to lower your premiums. If you truly do not have time for a medical exam, most insurance companies are willing to send their paramedics to meet you at your home or any other convenient place, to do the tests and take samples. You can do certain things to ensure you have the best results possible. One week to the test, eat healthy foods in general and avoid fatty and salty foods; avoid or limit intake of stimulants and nonessential meds.