One of the greatest inconveniences associated with getting insurance is the medical checkup. Many insurance providers have realized this and thus, they have started offering plans for those who are unable or unwilling to undergo a thorough medical examination prior to getting coverage. Therefore, no medical exam life insurance plans are gaining popularity in the market place. However, many insurance shoppers are not aware these plans exist, while others are very skeptical about them often terming them as "scams" or "fake". Insurance plans that do not demand medical exams are very real, in addition to being very useful. These plans offer a convenient and fast process of getting insurance coverage.
· No medical exam
As the name suggests, the no medical exam life insurance plans do not require prior medical exams. Medical examinations are a standard requirement for traditional plans. By skipping medical exams, insurance applicants save many hours because they do not have to spend time driving and waiting at the doctors room. Therefore, people with pre-existing medical conditions and seniors can be qualified for this type of plan a lot easier. These types of plans have a downside in the sense that they are more expensive than regular plans. They are normally seen as a last resort for insurance shoppers who cannot access any medically underwritten policy. However, the plan is beneficial for anyone looking for coverage immediately and without a fuss.
· Have pre-existing condition
A pre-existing medical condition often refers to a health problem that was diagnosed, treated or investigated; or any signs and symptoms that were relied upon to lead to a diagnosis; or an event that caused a claim to occur. If you have any pre-existing medical condition, you stand to benefit from a good plan. By purchasing such a plan, most of your insurance needs will be covered. Furthermore, getting this type of a policy is easy and convenient. This type of polices benefits both the insurance provider and the insurance applicant. Therefore, those who have any pre-existing condition, such as cancer, high blood pressure, diabetes and more, can get an appropriate coverage at competitive rates.
· Health questions
Holders of no medical exam life insurance may end up paying greater premiums because of the related insurance risks associated with these kinds of plans. However, in some instances, applicants may be required to fill out a health questionnaire, which helps a great deal in reducing their premiums. The questionnaire can be filled at the point of making the initial application or 2-3 years down the lane, upon receiving coverage. This allows the insurance provider to access the risks they will be carrying once an applicant receives coverage or to review the terms.
Author: Mkamba M Juke | Article Source
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