It depends on what type of permanent life insurance policy you buy. On the other hand, the death benefit and the premium may or may not be fixed if you have a permanent life insurance policy. With term life insurance, you will have coverage for a certain amount of time, such as 10, 15 20, 25, or possibly even for 30 years.Ī level term life insurance policy guarantees that the amount of the death benefit, as well as the amount of the premium, will remain fixed for the length of the level term period. This includes both term and permanent coverage. If you are over age 50, there are still many life insurance options that can be available to you. Types of Life Insurance Available to People Over Age 50 Then we will look specifically at the no exam life insurance options. Finally, we will also look at options that you have even if you don’t qualify for no exam life insurance.īefore we really dive in let’s take a moment and look at the basic types of life insurance that are available. We’ll look at the different types and options that are available to you. We’ll look at the factors you will want to consider in deciding whether to buy no exam life insurance. In this article we will look at what you need to know about no medical exam life insurance. Speed and convenience are a couple of the reasons why you may want to get life insurance after age 50 with no medical exam. One of the nice things about no exam life insurance policies is that there’s a possibility you could be approved for coverage in less than a week. Because it takes several weeks you really have to have a lot of patience. Many of us lead busy lives and having to take the exam becomes yet more thing you need to do.Īlso, if applying for coverage that requires a medical exam it will usually take anywhere from 4 to 6 weeks on average before your application is approved, and you have a policy in place.
Then during the exam which takes about 25 minutes, the examiner completes a blood draw, takes a urine sample and asks you health questions. Having to do the exam can be inconvenient.
The good news is that there are companies that offer life insurance coverage to people over 50 without having to complete an exam. However, oftentimes people don’t want to deal with having to complete the medical exam, that is often required when buying life insurance.
It’s coverage that most people know they need. These policies can also be issued on the lives of anyone over the age of 18 who wants to make sure there is coverage on them for whatever other debts or obligations they may have.Life insurance is an important piece of most people’s overall financial plan. Dealing with the loss of a loved one is hard enough, having to pay off the a student loan on top of that is just something no one should have to deal with. This is a real simple and easy way to insure that the student loan can be paid off in the event of the unthinkable.
Prices are very competitive for this age bracket and can be paid by the parent of the student, for coverage up to $350,000. There is no bloodwork, urinalysis, medical or physical exam required.
#TERM LIFE NO PHYSICAL EXAM SERIES#
Student loan protection is a no medical exam life insurance policy which can be issued the same day on an individual 18 or older, if they qualify after answering a series of health and avocation questions. **For Parents, Use No Physical Exam Life Insurance as Student Loan Protection
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