Term Life Insurance Articles
Getting Term Life Quotes Without Taking A Physical
2011-05-02
Prospective insurance clients wishing to apply for term life quotes should understand that it's often possible to get this type of insurance without taking a life insurance physical exam. But they should also understand that they may pay more for this insurance.
There is also the risk that the insurance company receiving the application may still ask the applicant to take a life insurance physical if they were to find information in the application that their underwriters suspect may be cause for concern.
Certain factors may also exist that are more likely to result in the insurance company requesting the applicant to take a physical. For the insurance applicant who may have questionable health factors in their history, it will be to his advantage to check with insurance experts who can tell him if his conditions are likely to affect his qualifying for the insurance he wants. Some of the factors he should take special note of may include the following:
Older age of the applicant
History of certain medications taken by the applicant
History of illnesses that may be considered more serious
Heavy use by the applicant of alcohol or tobacco
In considering no-medical-exam term life quotes, the insurance applicant should take into account the possibility that the insurance policy offered by a prospective insurance company may be written specifically to appeal to the prospective client who prefers not to be required to take a physical. These policies often will provide less comprehensive coverage or carry higher premiums than a policy requiring a physical. The applicant for such insurance should realize that insurance policyholders who were not required to take a physical are likely to be a higher risk for the insurance company. It may be because of this risk that insurance premiums for this type of term life insurance will be higher.
There is also a risk for the prospective policyholder who attempts to buy no-physical term life insurance by making untrue statements on his application or omitting certain health problems. The risk is that the insurance company typically will have a right under such conditions to cancel this client's policy, even after it has been issued.
If a prospective life insurance client considers buying insurance without first taking a physical exam strictly because of an inconvenience to him, he should weigh this inconvenience against the likelihood of lower coverage or higher rates. For the buyer who still prefers to skip the physical exam, he should take precautions to be sure he has no health issues that may later result in his insurance being cancelled. In addition, he should compare coverage and rates from a variety of prospective insurance companies.
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Prospective insurance clients wishing to apply for term life quotes should understand that it's often possible to get this type of insurance without taking a life insurance physical exam. But they should also understand that they may pay more for this insurance.
There is also the risk that the insurance company receiving the application may still ask the applicant to take a life insurance physical if they were to find information in the application that their underwriters suspect may be cause for concern.
Certain factors may also exist that are more likely to result in the insurance company requesting the applicant to take a physical. For the insurance applicant who may have questionable health factors in their history, it will be to his advantage to check with insurance experts who can tell him if his conditions are likely to affect his qualifying for the insurance he wants. Some of the factors he should take special note of may include the following:
Older age of the applicant
History of certain medications taken by the applicant
History of illnesses that may be considered more serious
Heavy use by the applicant of alcohol or tobacco
In considering no-medical-exam term life quotes, the insurance applicant should take into account the possibility that the insurance policy offered by a prospective insurance company may be written specifically to appeal to the prospective client who prefers not to be required to take a physical. These policies often will provide less comprehensive coverage or carry higher premiums than a policy requiring a physical. The applicant for such insurance should realize that insurance policyholders who were not required to take a physical are likely to be a higher risk for the insurance company. It may be because of this risk that insurance premiums for this type of term life insurance will be higher.
There is also a risk for the prospective policyholder who attempts to buy no-physical term life insurance by making untrue statements on his application or omitting certain health problems. The risk is that the insurance company typically will have a right under such conditions to cancel this client's policy, even after it has been issued.
If a prospective life insurance client considers buying insurance without first taking a physical exam strictly because of an inconvenience to him, he should weigh this inconvenience against the likelihood of lower coverage or higher rates. For the buyer who still prefers to skip the physical exam, he should take precautions to be sure he has no health issues that may later result in his insurance being cancelled. In addition, he should compare coverage and rates from a variety of prospective insurance companies.
