No Medical Life Insurance- What is it?

Buying an insurance policy used to be quite difficult at one point in time. Potential buyers had to contact numerous insurance companies, go through a series of tests and medical check-ups and fill out numerous applications before the company would give them a quote. However, since 2010, the insurance industry has undergone a sort of miniature revolution. These positive changes have helped insurance shoppers, making it easy for a person to explore their options and purchase a decent insurance policy that best suits their requirements. Many companies have also begun to offer “no medical life insurance policies”, which basically mean that you won’t have to undergo a medical assessment before the company can offer the coverage.

Non-Med Policies

Currently, there are more than 20 different companies that have begun to offer “non-med policies.” The best thing is that new options continue to be added, especially as more and more insurance providers begin to explore this option. According to a private study, one of the main reasons as to why so many people kept putting off buying a life insurance policy was because they didn’t want to undergo a medical assessment. However, thanks to these new non-med policies, you can fill out the paperwork and sign the agreement within just a few hours. You can check out simplelifeinsure.com for more information.

Why Buy This Policy?

Previously, it was virtually impossible for people to purchase a non-med policy that offered coverage for more than $200,000. That isn’t an issue anymore. There are numerous options available that go as high as $500,000, whereas some policies also provide insurance coverage as high as $1 million. In the event of an untimely death, having decent insurance coverage could help stabilize a rocking boat and give your family the financial cushion that they need in order to persevere their lifestyle.

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