Life Insurance Without Medical Exam
Of course it's possible to get life insurance without being subjected to a physical examination. Many life companies will offer this convenience to clients but here is the conundrum. Will the life insurance policy be what you want or what the insurance company wants you to have? It's like a waiter asking: "will that be whole life or term life with your coffee?"
If a life insurance company agent is truly going to write a examination-free life policy common sense should tell you there will some questions to answer. To any sane person no exam means no doctor or paramedic and no drawing of blood. Nothing, nada, zip, zero. The first thing a person seeking information about a life insurance policy should know the difference between whole life and term life. Some agents will try and hustle you into a whole life or universal life policy because it's a better investment. It also pays the agent a larger commission fee. Actually, it's against the law to tell a customer this type policy is a better investment. You would be better off financially if you invested in a Roth IRA.
Let's assume you have narrowed your insurance company choice down to one or two companies who have sold you on the idea that there will be no physical examination required for the issuance of your new life policy, but you will have to answer a few questions. "No problem. Shouldn't take much of your time," they say. But here is the trick on how they will know more about your health situation in 90 minutes than you do. Review these sample questions that will determine the price of your policy and whether you're a person who can be insured by the underwriters.
* Do you have a regular physician? Name and business address, please.
* Are you taking any prescription drugs? Please list them.
* Have you used any tobacco products in the past eight years? Please list them.
* Are you being treated for any disease?
* Are you currently pregnant?
* Any family history of mental illness, cancer, diabetes?
* Any major surgery in the past six years?
* Do you use any illegal drugs? Please list them.
These are just a few samples. There is a list of 30 more "have you been treated" questions, as well. Make an informed decision by doing your own homework. Review everything.
If a life insurance company agent is truly going to write a examination-free life policy common sense should tell you there will some questions to answer. To any sane person no exam means no doctor or paramedic and no drawing of blood. Nothing, nada, zip, zero. The first thing a person seeking information about a life insurance policy should know the difference between whole life and term life. Some agents will try and hustle you into a whole life or universal life policy because it's a better investment. It also pays the agent a larger commission fee. Actually, it's against the law to tell a customer this type policy is a better investment. You would be better off financially if you invested in a Roth IRA.
Let's assume you have narrowed your insurance company choice down to one or two companies who have sold you on the idea that there will be no physical examination required for the issuance of your new life policy, but you will have to answer a few questions. "No problem. Shouldn't take much of your time," they say. But here is the trick on how they will know more about your health situation in 90 minutes than you do. Review these sample questions that will determine the price of your policy and whether you're a person who can be insured by the underwriters.
* Do you have a regular physician? Name and business address, please.
* Are you taking any prescription drugs? Please list them.
* Have you used any tobacco products in the past eight years? Please list them.
* Are you being treated for any disease?
* Are you currently pregnant?
* Any family history of mental illness, cancer, diabetes?
* Any major surgery in the past six years?
* Do you use any illegal drugs? Please list them.
These are just a few samples. There is a list of 30 more "have you been treated" questions, as well. Make an informed decision by doing your own homework. Review everything.
