How to get insurance without medical examination

How to get insurance without medical examination

Many people choose to go without insurance for various reasons. However, the purchase of life insurance is a wise investment. This gives you the perfect opportunity to protect the lifestyle of your loved ones by providing them with financial support in case of premature death.

For some, purchasing insurance can be a challenge due to pre-existing medical conditions. Any insurance buyer who is unable to obtain coverage as a result of their poor health, they may consider the medical examination policy.

This type of policy allows you to buy insurance coverage without the need for a medical examination. The common ways of obtaining a medical examination life insurance includes:

1. Group coverage

If your insurability is compromised by pre-existing medical conditions or hereditary factors, you can consider group coverage. Most insurance carriers are willing to provide coverage for high-risk people who are part of a large group.

Indeed, the group will be able to resolve the risk at a reasonable level, which makes you insurable. As a result, employer group plans are recommended because they provide guaranteed coverage to anyone, without requiring responses to health issues.

Nevertheless, plans facilitated by the employer vary considerably, while death benefits are often limited. However, the cover is easily available and inexpensive.

2. Guaranteed plans

Life insurance schemes guaranteed assume a different approach when it comes to insurability. However, these plans offer individual policies without medical issues. In order to protect its interest, the insurance carriers protect themselves from excess claims by setting up a placing restriction and limiting the amount of insurance to buy.

As a result, most suppliers specify the minimum number of years that the policyholder should hold the plan to benefit from death benefits. Otherwise, premiums are often returned to beneficiaries in the event of death. Other service providers increase death benefits according to the duration during which the plan remained in effect.

3. Store for plans

Limited death benefits often paid by most guaranteed plans are only sufficient to cover funeral costs. In addition, premiums are generally much higher compared to other types of insurance. In fact, premiums can be added quickly to more than the profits of death.

As a result, it is advisable to shop from various major insurance providers. This will provide you with an ideal opportunity to find good coverage at competitive rates. The process of obtaining a plan has been simplified by most service providers, you can submit your application online and receive approval on the same day.