Life Insurance can seem a complicated process but surprisingly many people don’t realize that it is a simple process and you can even get life insurance with no health questions. The most important thing a person can do before they get life insurance is figure out what they want the life insurance to do for them. Assurance Life specializes in walking clients through the process of getting the right type of life insurance for their unique needs. Policies are based on age, health, and how much the death benefit will be so that means each policy is different. Sometimes people discover the best plan for them is a type of life insurance with no health questions asked prior to approval. Life insurance with no medical exam or waiting period is also call guaranteed issue life insurance. In order to find out if that is best for you, let’s take a look at the different life insurance options.
First you must decide if you prefer a term life or whole life insurance policy. These two types of policies serve different needs. Term life insurance is active for a set amount of time and then expires. Also, there are extensive health questionnaires and often some type of health exam. Term life tends to be less expensive than whole life because many people are turned down due to health issues so there is less risk for the insurance companies. Whole life is a type of insurance that lasts for the client’s whole life as long as monthly premiums are paid. The application process is simpler than with term life and there is no health exam needed. The monthly premium can be more expensive than with term but the thing to remember is that the rate stays the same until the insured passes away, regardless of how old they become during the time the policy is in effect! So you can sign up while you are younger and healthier and continue to have that policy in effect at the same rates even if you live to be 100 years old!
If you are hoping to get your life insurance policy with no health questions to answer, you will definitely need to look at a whole life insurance option. As much as the simplicity of not answering any health questions might sound less intimidating and easier, you might be able to save money by answering a short yes or no health questionnaire as part of your application. Sometimes people have the misunderstanding that all life insurance applications are complicated and lengthy, asking for a life history your health just to get a quote. With Assurance Life’s free quote process, we have a short application that takes less than 10 minutes with less than 15 yes or no health questions.
When comparing the option of answering the short list of yes or no questions to life insurance with no health questions, you are usually much better off seeing what kind of burial insurance plan you qualify for based on the health questions. Most insurance companies who use a no health questions application balance the risk of the unknown by charging higher monthly premiums. Assurance Life finds that most clients are willing to take the few extra minutes to answer yes or no questions in order to be sure they are finding the company that fits their needs and gets them the most insurance for the lowest monthly premium.
For those hoping to find life insurance with no health questions, it helps to have an explanation of how the application process and approval works to understand just how easy it is. First, you fill out a no obligation free quote request HERE. Then one of Assurance Life’s insurance brokers will contact you to start the free quote process. It takes less than 10 minutes to get a free quote based on age, health, and how much burial insurance you are looking for. You can even compare different death benefits to see how much life insurance you can afford. The great news is that EVERYONE is approved for some type of whole life insurance as long as you are 85 years old or younger.
There are 3 types of approvals with whole life insurance. The first one is for those in good health and the coverage is called preferred coverage. With preferred coverage, the funeral insurance begins immediately upon receipt of the first payment. This type of coverage also has the lowest monthly premium because the insured is in good health. The next level is graded coverage where the death benefit is paid out in percentages over the first two years and then after two years, the death benefit would be paid out in full. The last option is called guaranteed issue burial insurance. This is the type of coverage that is sometimes called no health questions life insurance because it is for people who have serious health conditions that require a 2-year waiting period for the death benefit and higher monthly rates. Even though these stipulations are more limiting, it is a great option for people who otherwise could not qualify for life insurance to protect their families.
Life Insurance with no health questions might sound like a great idea but hopefully you have discovered that for a few minutes of your time, you can get more coverage and pay less money. Let Assurance Life help you with your free quote today! Our goal always is to get you approved for preferred coverage which 90 percent of our clients do qualify for. But life insurance with no health questions is a great option after we have exhausted all other options.