Are you looking for a term life insurance plan that gives you swift and hassle-free coverage? You can consider buying a term plan without medical tests. Many insurance companies in the country offer these plans where you do not have to go through any medical screening at the time of buying the policy. The major convenience in this case is that these policies are issued in a shorter duration. Let us learn more about these policies below.
How Term Insurance Without Medical Tests Works
When it comes to term insurance without medical tests, here are some key aspects regarding how they work.
- Insurance companies evaluate the risk factors based on aspects like your lifestyle, age, family medical history, and the chosen sum assured amount.
- However, while filling up the policy form, it is important to be fully honest about your underlying medical conditions (if any), smoking habits, etc.
- In case you already have a pre-existing illness, then you will still have to take a medical test.
- Not disclosing your health and lifestyle information may lead to claims being rejected in the future, in case your demise occurs due to these reasons.
- Once you fill up the questionnaire and application form, the insurer will review the answers and verify the data via databases such as motor vehicle reports, pharmacy records, the medical information bureaus, etc.
- In case you meet the criteria of the insurer, then the policy may be issued swiftly, often instantly or within a few days.
- Premiums for these policies may be slightly higher than medically underwritten policies. This is because the insurer takes on higher risks due to the absence of physical tests. The sum assured amount may also be a little lower for plans without medical tests.
Who Benefits from Term Insurance Without Medical Tests
Choosing a term life insurance plan without any medical tests will benefit these categories of people:
- Healthy people looking for higher convenience without the hassles of scheduling medical examinations and taking tests.
- Older people/seniors who may have difficulties in passing stringent medical tests.
- People needing supplementary insurance coverage to add to their existing insurance plans or cover smaller liabilities.
Choose Term Plans Without Medical Tests for Quick & Simple Coverage
If you’re looking for quick and hassle-free coverage, term insurance without medical tests can be a good option. You don’t have to schedule or wait for medical tests or go through these procedures in this case. Get instant peace of mind with swiftly approved insurance coverage, which also benefits you in case you’re uncomfortable with needles, testing, or sharing medical data with third parties.
Of course, it is important to be completely honest about your medical history, status, and lifestyle habits in your application to avoid committing insurance fraud or have your family members’ claims rejected in the future. Once you abide by this, getting these term plans will ensure maximum convenience and time savings alike.