Life insurance is a very practical way of safeguarding your loved ones in a financial manner after you pass away. It gets them a lump sum of money on the occasion of your death. Though not everyone is fortunate enough to get life insurance for themselves. Many face rejection on multiple grounds especially after medical examinations. Though times are now changing and companies are becoming lenient towards the scrutiny on medical grounds. Basically they are offering you life insurance where a medical examination is not needed and you also get tons of other benefits along with. Let’s have a look at these features.
Relief from Medical Complications
A number of listed diseases and health complications can make you unable to get regular life insurance. No-medical life insurances come to the rescue of the people who are suffering from diseases like high blood pressure, cancer, and so on. If you purchase non-medical life insurance then you won’t be asked to examine your blood, ECG, urine, blood pressure, etc.
Ignoring the Age Factor
Nonmedical life insurance also entitles old people above the age of 65 to get insurance. Elderly people of this age find it all cost impossible to get life insurance. This is because with age the probability of getting a fatal disease increases. Since it is important even for the elderly to leave behind something for their loved ones, no-medical insurance can be a lot of help.
There are some activities which are flagged as ‘dangerous’ by almost every life insurance company. Such activities include car racing, bike racing, skateboarding, skiing, scuba diving, etc. Experts at this website deduce that these activities increase the probability of a person having a fatal accident. Due to this reason the traditional insurances used to have a higher premium for the people participating in these activities. No-medical life insurance makes no discrimination on such grounds and offers a reasonable plan to such people
HIV? No problem
Auto-immune diseases such as HIV make it impossible for the affected to be able to get approval for a life insurance package. Though victims of such diseases can now breath a sigh of relief as they can get a fully underwritten plan for themselves at quite reasonable premium rates.
Having a history of drug abuse can totally disqualify you from a life insurance plan. You may not get approval if you have taken certain drugs in the past 12 months. The non-medical insurance again comes to the rescue by offering a much recent report of your substance abuse.
Mental instability or mental disorders used to be a clear basis for not approving a life insurance purchase. Bipolar disorders and extreme depression can also be covered under a no-medical life insurance plan.
No-medical life insurance has some extremely beneficial features, especially for people who were previously not eligible for traditional insurance. Every person deserves a chance to financially secure the lives of their loved ones when they are no more.