Seniors life insurance without a medical exam
Since there are a lot of choices in term life insurance online we thought we would break down the options just for seniors. First you have to realize that this is going to cost more money than it would have back ten or twenty years ago. That being said you still have affordable senior life insurance choices but you are going to have to choose based on a higher premium or a much smaller payout or both. Why? Well simply put you don’t have as long to live and are at a higher risk of an accident or health failure than a younger person.
Remember that life insurance companies are in the business of making money, so they want to only take on the clients that are low risk in the statistics. Which leads us to seniors looking for a life insurance policy without having to take a medical exam. Right off the start the insurer is going to limit the premium based of the fact that there must be a health issue if you don’t want to take a health exam.
Life Insurance Quotes, the No Medical Exam Truth
Fear not though, seniors life insurance policy are still available to you, and most companies will accept an application based of a few basic health question. It’s become standard practice thanks to the online life insurance quote process. But you might be limited in the quotes you can get or the premiums offered by the number of insurers. Don’t be surprised if you do get a quote
or premium your happy with that the life insurance company will offer you a lower premium if you opt to take a medical exam.
Perhaps you don’t need a lot of coverage or payout, maybe just enough to cover funeral expenses, then this is more that affordable for a senior and you can do monthly instalments. If you are looking to leave money for a loved one or in your relationship you still have dependants they best option would be a whole life policy so that you and they are always covered. This will be
costly so read the fine print and compare online with a service like ours to help you get the best rate.
Senior Life insurance without the medical exam explained
This brings us to a medical exam; if you are very healthy go with a policy that requires a health exam; this can lower your rates significantly or get you a higher payout. Health questions are always a requirement but not a health exam, so if your health is questionable and you are a senior, it would be best to take a package that has a smaller payout but also will have a lower premium.
To conclude, you can start with our service and find great rates on life insurance specifically for a senior, once you do, don’t stop there, consider getting a lower cost rate by taking a medical exam, only if you are in good health with no chronic health conditions. That way you save more money if you are in good health and if not you still get the coverage you need to make sure your financial needs are met!