I am sure you have seen the TV commercials promising that you can get life insurance coverage from as little as a month with no medical exams. These same TV offers also usually claim that you can get relatively large policies for amounts of ,000 or more. Beware, these offers are not the deals they seem.
First off, you will never be able to get the maximum coverage for the minimum amount with these offers. The insurance company would go bankrupt if it offered these low rates for extremely low premiums. Especially, with no medical exam.
Offers
The fact is that the low premium amounts will only give you a low policy. And it comes down to basic economics. People who tend to buy life insurance without a medical exam are among the riskiest people to be insuring. So for large policies, rates have to be correspondingly high.
Now you may be wondering why people who buy no medical life insurance are among the riskiest customers around? The reason this tends to be true is that people who are already in good or OK health will usually go to the trouble of getting a medical exam when they life insurance because they know the rates will be lower.
This leaves only people with already bad health to buy no medical life insurance. So, if an insurance company wants to make money from this group it has to assume that all people buying these policies statistically stand a pretty good chance of cashing in their claim. This is bad news for the insurance company since they would obviously prefer not have to pay out the money.
However, it is also a bad deal for consumers because you end paying far more than you really have to. If you are considering buying no medical life insurance it is most likely because you don't feel your health is as good as it could be. That or you are too lazy to do a medical exam.
In either case you should get a medical exam done anyway. This is good from not only an insurance perspective but from a life one as well. Once you know where you stand in terms of your health you can take actions to improve it. Remember, it is never to late to do things that improve your health.
The easiest is to stop smoking immediately, if you smoke. This one action alone could save thousands on insurance and cigarettes. Moreover, it is really just good advice in general. Beyond not smoking you should try to keep your weight in check, eat well and exercise regularly.
By doing these things you will hopefully see your health improve and as a side benefit be able to qualify for lower insurance premiums. Also, you won't have to be afraid of what an insurance health check may say about your health condition.
Finally, one more way to save on life insurance is to compare insurance company rates from many different companies. Since, you are (presumably) reading this online you can easily find life insurance quotes online. Simply type you query into Google or have a look at the sites listed below. Both will be able to help you save on all you life insurance needs.
Beware Of 'No Medical Exam Required' Life Insurance Offers
Ian Wright has written extensively on insurance issues on his websites and knows how to save money on Life Insurance. For more information please see his pages about to get a Life Insurance Quote Online and/or an Instant Life Insurance Quote Online
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