Features of the Term Life Insurance Policy

If you are looking for insurance, you can consider a term life policy. A choice will have to be made between a medical and non-medical term policy. With a medically underwritten plan, you will need to undergo a medical exam.
Typically, a medical examination seeks to take a blood sample that tests the presence of antigens (indicating HIV/Aids), cholesterol & related lipids, diabetes, a kidney or liver disorder, immune disorders, prostate specific antigens (indicating prostate cancer), antibodies indicating hepatitis and more. The urine tests on the other hand seek to screen for medications and other drugs such as cocaine, to determine your lifestyle. The main features of the term policy include:

· Pre-determined period

The term policy is popularly referred to as a temporary insurance coverage. As the name suggests, it is intended to cover a pre-determined period, often ranging from 1 to 30 years. The policy expires once this fixed period lapses. The term life policy is a popular type of insurance plan because the plans payable remain steady through the term of the policy. This offers huge benefits to the policyholder while the plan is in force because in case their medical condition begins to fail, the insurance provider will by no means alter the coverage or raise the premiums.

· Cheaper

The premiums payable under the term life policy are lower compared to other plans. As you shop for insurance, make sure to get several quotes from leading insurance providers. This will help you compare term life insurance rates from different companies, for purposes of getting the best deal. Considering you are unlikely to die during the plan's period, purchasing term life policy is a less costly affair in comparison with the permanent plans. Furthermore, to get more coverage for much lower rates, you can better your medical exam results by getting a good night rest, the night before the exam. In addition, do away with alcohol at least 8 hours before the examination. Avoiding caffeine, including chocolate, soda and coffee, at least 1 hour before the examination can also help. Furthermore, you can improve your medical exam results by avoiding any strenuous activities, limiting your salt consumption and minimizing high cholesterol foods, 24 hours before.

· Easily accessible

Based on the information you have provided on your application form and the results of a medical exam, the insurance underwriter will determine whether or not he is able to provide coverage. However, if you opt for the non-medical term policy your application is more likely to be qualified. Non-medical plans mean the insurance company offers coverage without determining the applicant's health status. Typically, the insurance provider will be ready to bear the risk, as long as the applicant is willing to pay higher premiums.

Author: Mkamba M Juke | Article Source