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The Best No Exam Life Insurance Policy For You

What exactly is a no exam life insurance policy? Actually, as the title implies, no physical health examination is required for acceptance as a policy holder. It’s as simple as that. With most life insurance policies an exam is required and a potential insured has to fear the discovery of some unanticipated health issue that might prevent their being accepted, or at the least, might raise their premiums to an unacceptable level.

Those who find the idea of a no exam life insurance policy appealing usually have had health issues in the past that they fear might impact the insurance company’s decision to insure them, or may raise the cost of premiums beyond their ability to pay. Avoiding a health exam, however, may have its downside in that a no exam policy is usually up to three times higher than those in which you do go through the exam process. On the other hand, if your insurance agent knows of any preexisting conditions, he or she may be able to shop around to find you an affordable alternative that offers quality life insurance.

One appealing advantage of a no exam policy is you will get your coverage faster. The interim period while waiting for coverage to kick in can be a major source of concern to a potential policy holder, as this is a period during which his family remains unprotected. This is where a no exam policy is advantageous. Even with a no exam policy, however,, you will be required to answer certain questions about your current state of health. Your answers will serve to determine the cost of your policy.

So, there are pros and cons to both routes to obtaining life insurance. Either way, honesty is the best policy when it comes to answering any health questions. To do otherwise could jeopardize your coverage and possibly make you vulnerable to charges of insurance fraud. So, whichever choice you make, work WITH the system rather than trying to “beat” it, and you will have the comfort of knowing your family is protected in the event of your death.