Do you have life insurance? Many people think they don’t need it, or don’t have time for it, but life insurance is crucial to protect you financially should you be injured and cannot work or pass away when you have people dependent on your income. No medical life insurance is becoming more popular among the millennial crowd, and there are many reasons to consider using it!
What is No Medical Life Insurance?
No medical life insurance policies are life insurance without the hassle. Rather than have medical exams or nurses intruding in the home, individuals often only need to fill out simple medical questionnaires. It works for the company, because the “incontestability clause” makes sure they don’t suffer if people lie on forms, and newer generations are now more health-conscious than the past, so they would have been approved under a traditional policy anyway. It works for you, because you won’t have to jump through tons of hoops to get a life insurance policy.
There are two kinds of no medical life insurance. Simplified issue life insurance means you will only have to answer a few medical questions. The coverage limit for these policies in often $150,000. Guaranteed issue life insurance has no health questions, but has a typical limit of $25,000 and has some payout restrictions in the first couple of years.
Who is No Medical Life Insurance For?
No medical life insurance is becoming more popular among the millennial crowd, as they seek more practical means of securing life insurance. People between the ages of 18 to 65 can easily apply for no medical life insurance, and often qualify for long terms and significant coverage. Even those with significant medical disabilities, such as diabetes or heart disease, can often find no medical affordable plans with the help of a broker.
No medical life insurance policies are non-invasive, which means that you will not have to undergo awkward physical examinations. A lot of people find medical exams like these uncomfortable and face anxiety over them, but with no medical life insurance you won’t have to worry about it.
No medical life insurance policies are also convenient. You can sign up from your own laptop, and won’t have to travel anywhere after a long day. As you’ll likely be researching different companies online anyway, you can get both done at once.
Today it’s more important than ever to have quick, effective service. Millennial groups in particular show trends of valuing quick and efficient services. Our lives are busier than ever, and this is one of the leading reasons people claim they don’t take out life insurance policies. With no medical life insurance, you can get a quote with just a few clicks on your computer. You can have a life insurance policy faster than ever before and enjoy the rest of your day.
No medical life insurance is much less expensive than it used to be, because with people taking better care of themselves and having longer life-spans, companies face less risk. Premiums for no medical life insurance vary per person, and depend on factors such as gender, whether one is a smoker, their weight, etc. The less health concerns you have, the cheaper your premium will likely be. Non-smokers typically pay less than smokers of the same demographics.
No medical life insurance policies are generally available in two ways. Term policies mean that your premium starts off low, and you pay more as you age. On the other hand, permanent policies start off higher, but stay at a fixed rate. Term lengths can vary between 10 years and a lifetime, depending on what you are approved for or choose.
A non-smoking female under forty might expect to pay under $50 a month for a 20-term life insurance policy, even with previous heart concerns. A non-smoking man under forty with diabetes might expect to pay just over $60 for the same policy.
Enjoy the Convenience and the Coverage
No medical life insurance is a hassle-free and inexpensive way of protecting yourself and your loved ones from financial issues if something were to happen to you. No medical life insurance is non-invasive, convenient, and fast for today’s busy generations, and its practicality is the reason it has become so popular amongst millennials.