No Medical Exam Life Insurance Plans vs Traditional Policies

What is the best type of life coverage you can purchase? Traditional plans like term life insurance and whole life insurance are a landmark in the industry. However, a new type of policy is starting to emerge: no medical exam life insurance.

images4Which of these two types of coverage provides the most advantages and why? Read on to find out!

Traditional plans

If you need life insurance, you are probably thinking of going with a traditional plan. I am talking about all of the well known policies available at every agency: temporary, permanent and universal life coverage. Although they are completely different, all of these traditional plans have one thing in common: the application process.

If you want to get insurance, you will have to face a tedious application process. Many agencies will ask for medical documents, so you will have to take blood and urine tests. In some cases, a simple blood analysis is not enough, which means that you will have to undergo extensive medical examinations.

Apart from the long and tiring application process, you also have to wait for the slow underwriting process to complete. Underwriting for a traditional plan takes between three and six weeks, so if you need fast insurance, you would better look for an alternative.

No medical exam life insurance plans

Simplified issue, final expense and guaranteed acceptance issue are not household names in the insurance business. However, market analysts believe they will soon be a lot more popular than we expect. The reason? Simple, fast and convenient application process.

These plans do not require medical examinations. This means that you can qualify simply by completing an application form. More than this, the underwriting process is completed in less than 24 hours. You will be covered and your family will be financially protected as soon as possible.

If you want to find out more information about life insurance plans that do not require medical examinations, visit our website! We offer free quotes from top providers.