3 Types of No-Medical-Exam Life Insurance

What is no-medical-exam life insurance?

No medical exam Life insurance refers to policies that don't require a physical exam to qualify for coverage. Consumers have three primary choices for acquiring life insurance without having to have a medical exam. With that being said, these are the three types of no-medical-exam life insurance.

1. Simplified issue life insurance. Simplified issue insurance is a type of life insurance policy that may be approved with only a few health questions. It primarily aimed this sort of insurance towards customers who needed life insurance immediately and or did not want to submit to a medical exam. Simplified issue life insurance should offer a limited amount of life insurance rapidly without the 4 to 8-week delay often associated with traditionally underwritten plans that need a medical exam. With simple issue insurance, there is no need for a comprehensive medical exam, so you may get coverage in a matter of days.

2. Guaranteed acceptance life insurance. Guaranteed acceptance life insurance is a sort of life insurance policy that is generally oriented towards those who have health issues that make it difficult for them to obtain other types of life insurance. Guaranteed acceptance life insurance, often known as "guaranteed issue insurance," is permanent life insurance. With permanent life insurance, your coverage lasts for your entire lifetime as long as you keep up with your premiums. If you’re older or have health problems, Guaranteed acceptance life insurance can provide a guaranteed means for your family to cover funeral costs, hospital bills, or other expenditures following your death. Since life insurance is intended for older people with potential health concerns, guaranteed acceptance life insurance does not require a medical exam to worry about.

3. Group life insurance. Group life insurance is a kind of life insurance in which a single contract covers an entire group of people is known as group life insurance. The insurance is often owned by an employer or another body, such as a labor union, and it protects the employees or members of the group. Group life insurance is frequently included as part of a comprehensive employee benefits package. In most circumstances, the cost of group coverage is far less than what workers or members would pay for comparable individual insurance. Group life insurance rarely requires a physical, and the premium is discounted.

3 Types of No-Medical-Exam Life Insurance
CHAPTERS:

0:00 - Why you may opt to choose no-medical-exam life insurance?
0:18 - What is no-medical-exam life insurance?
0:43 - 1. Simplified issue life insurance
1:27 - 2. Guaranteed acceptance life insurance
2:25 - 3. Group life insurance

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