Top 3 Benefits to No Exam Life Insurance For Elderly Parents

Top 3 Benefits to No Exam Life Insurance For Elderly Parents

In today's world, where everybody, rich or poor can die at any place at any time, getting a life insurance policy can really save a lot of trouble for the family left behind. By getting a trustworthy life insurance policy, people can at least rest assured knowing that when they die there will be no problems with the burial expenses and may even have some more leftover for their family. However, getting life insurance is not that easy, as one must fulfill certain requirements in order to meet a certain level of life insurance, especially for the elderly who have existing medical conditions.

If you are a shopping for a life insurance policy for your elderly parents, then you will surely have a hard time looking for a decent deal except if you go for no medical exam life insurance. You see most insurance companies require their applicants to fulfill certain requirements before they can approve a life insurance deal. And one of the most important requirements is a medical certificate. 

A medical certificate proving that the client is physically fit and thus would be able to contribute to the premium for a long time will ensure the company that they will receive contributions for a long time. On the other hand, for no medical exam life insurance, this requirement is foregone and for a higher price and regular contribution, the company will shoulder all the risks and be able to approve the insurance. While it may be more expensive than normal insurance deals, no medical exam life insurances will be the best option for elderly people, below are 3 reasons on why we think it is.

1. Fast approval

Insurance companies mainly deal with risks, especially the risk of death. Once a member is dead, they are bound to cover all guaranteed expenses within the deal and won't be able to receive contributions in the future. Thus, they lose a lump sum of money plus regular contributions to their income. 

That is why medical exams are very important for insurance companies to assure that their members are healthy and can contribute to their premium for a long time. However, for no exam medical life insurance, no exams are needed. In fact, this kind of insurance can be approved as fast as 2 days or even within the day. By paying a premium, elderly people are able to get their insurance fast and rest assure that they will be buried without debt in the future.

2. No more doctors

As people grow old they become more stubborn. And in most cases, they refuse to visit doctors for examinations as they don't like to know their deteriorating conditions. With no medical exam life insurances, the senior citizen won't need to visit the doctor and secure a medical certificate. All he needs is to pay the premium and sign the documents - a simple and efficient way of dealing things especially for the elderly.

3. Serious medical conditions

If the senior citizen is not just old and has severe medical conditions like diabetes, high blood or even as deadly as cancer, chances are no matter where you look, no medical exam life insurance is the only way. This is the only type of life insurance that will offer affordable term life insurance quotes without medicalexam.