No Physical Life Insurance Choices

Finding Life Insurance With No Medical Exam

It can be very tough to find life insurance with no physical exam, but as the life insurance business gets more competitive we do find more companies that are willing to issue polies with something they call simplified underwriting. Simplified underwriting life insurance means that an applicant will answer some basic health questions, but not be required to take the time and trouble to have a medical exam.

If you wish to protect your privacy or just do not have time to meet with a doctor or medical examiner, then you can often conduct the whole life insurance process online, or over a phone or fax machine!

How No Medical Exam Life Insurance can cost a little more for a very health person than a policy that requires more complete health insurance. At lower face values, the cost difference will probably be very little, but it may be worth it to go through the complete underwriting process for a large amount of life insurance, especially for those who are very healthy. So if you keep your weight and other health factors in very good shape, you should take the time. Otherwise, it probably won't make that much difference.

No Medical Exam Term Life Insurance Quotes are here!

Whole Life Insurance Is Still A Good Buy For Many!

Whole life insurance has fallen out of fashion these days, but it is still a good solution for many people who want life insurance that does not expire. Other people who may benefit from a lifelong insurance policy are children, older adults, and those with health conditions. Even younger adults may be wise to buy a smaller whole life insurance policy in conjunction with a larger term life insurance policy! The term will expire when the person's needs are lower, but they will still have the whole life policy at the rates they got when they were younger - and it could even be paid off by then!

Learn more about why you should buy whole life insurance here.

Get the scoop on term life insurance vs. whole life insurance vs universal life insurance on this informative page.

Whole Life vs Term Life vs Universal Life

I found a good post on a question that seems to confuse many people who are looking for life insurance: Term vs Whole Life vs Universal Life

I don't want to repeat the whole article, but it gives a basic outline of the three popular forms of life insurance, and which group of people might benefit the most from choosing one over the other.

Whole Life: Permanant - basically for people who want life insurance that does not expire, and that also builds a cash value. Costs more.

Term Life: Temporary from 1 to 30 years years generally. For people with a set limit of time that they need more coverage. I.e. a family to support or a mortgage.

Universal Life: Also an investment vehicle. Also Permanant Life insurance

Term Vs. Whole Life vs Universal Life Insurance

How To Buy Life Insurance

Life Insurance Buying Guide

Many people decide they need a life insurance policy, but really don't understand the different types of life insurance. Actually, I've talked to many people who already had life insurance, and they didn't even know what they had! It is important to understand what you are buying before you sign a contract, and also to understand what you need.

If you look at the Life Insurance Guide, you will find three basic types of life insurance. Term insurance is probably the most popular, especially with people who are in their earning and child raising years. Since you buy the insurance for a specific number of years (term), it is the cheapest type of insurance, and you can get a larger death benefit for your money. Simple term life insurance does not accrue any cash value though, so if you outlife your life insurance policy (and we hope you do), you will not have any value left in your policy.

A popular rider to life insurance is Return of Premium (ROP) Life Insurance. This rider will give you back the value of all of your premiums if you keep the policy until the term ends, and of course, if you survive the policy. This option costs a little more, but may be a valuable way to get a nice check back for outliving your life insurance policy.

On the other hand, whole life insurance is permanant insurance, so it will cover the insurance until they die, as long as premiums are paid. It will also grow a cash value, though rates are probably not competitive with other investments. Whole life insurance is more expensive than term.

A third type of insurance is called Universal Life Insurance. It is also a permanant life insurance policy, does have a cash value, and may pay a more competitive return rate than whole life. If you are considering Universal Life Insurance as an investment, however, be aware that a substantial portion of your monthly payment will go towards the cost of insurance.