We dread undergoing medical exams. If we could do away with it, we probably would. One of the common challenges of getting insurance is undergoing medical exams. Not a lot of people are encouraged by this thought and sometimes opt not to get insurance instead. Sometimes, the result of a person’s medical exam can also be the reason for the denial of their coverage.
Thanks to the increasing number of insurance agents in the market, the requirement on medical exams can be eliminated through a different type of no exam life insurance policies.
Simplified issue is slowly gaining popularity. It forgoes with the requirement of taking a medical exam, and exam counterparts will be in replace. The procedure for this type of application is almost similar to other insurance policies. Instead of medical exams, however, they will check some of your medical records, medications you have taken, and vehicular records.
Getting this type of insurance allows you to choose different kinds of premiums. However, it takes several days or months to know if your application is approved. It can be as short as a few minutes or can take months. You may also be required to interview with them for additional requirements.
Like the name itself, everyone is approved. But unlike other insurance policies, their premiums are more expensive because of the risk they have to undertake since they know nothing about you. The payment of your premium depends on specific criteria except for your health information.
But wait, there’s a catch. There is a waiting period of two years before your plan can be guaranteed. Applicants who die within two years will not receive the benefit. This is fair considering how easy the application procedure is. Just make sure to remain healthy within the two year waiting period.
Graded Death Benefit
Similar to Guaranteed Issue, this insurance policy is easy to get. However, the applicant must answer a series of question which they should pass. This is a precondition before your application is approved, which is why you should choose an insurance policy is more suitable for you. Unlike Guaranteed Issue, the graded death benefit is less expensive because there were health questions asked by the applicant.
Life insurance policies are easy to get these days. Almost every concern of the consumers, such as taking a medical exam, is being addressed by the industry. With that, you can start choosing your policy. At Roper Insurance Services, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (828) 697-6709. Get your free quote today by CLICKING HERE.