No Medical Exam Life Insurance - Is It Good For You?

There are many special types of life insurance products out there that guarantee that everyone will be accepted. That is, they do not require any medical exam. They are usually quick and easy to buy and are quite a great option for people who have certain health conditions. Nevertheless, they are usually a lot more expensive than other life policies.

Giving everyone life insurance without a medical exam makes such policies very high risks to insurers. And like for everything in insurance, high risk means high premiums. Those medical exams enable insurers to properly classify prospects according to the risk to present to them. This invariably leads to better rates for those who are classified as insurable.

Therefore, if you're healthy you'll do well to avoid these "no medical exam" policies. They cost quite a lot. You'll save by going for a policy that conducts a medical exam first. Yes, it's less convenient but will save you thousands in just a few years.

Apart from this, you may want to know that most of those who buy "no medical exam" or guaranteed policies end up paying a lot more in premiums than their beneficiaries will ever get as benefits when they pass on. So even if you're not so healthy it will be a wise move to discuss with a financial advisor or weigh your choices seriously and intelligently before you buy into it.

If you've made up your mind then save as much as possible by getting and comparing quotes from five or more sites. Don't just visit two sites and assume you've don't extensive comparison shopping.

Here are great pages for life insurance quotes...

Life Insurance Quotes

InsureMe Life Insurance Quotes

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Chimezirim Odimba writes on insurance.