Life Insurance No Exam A Kind Of Life Insurance

It sounds so crazy when you hear Life insurance no exam. Most people are under the impression that in order to qualify for life insurance, medical exam is very essential, but this is not true always. Earlier in order to invest in a Life Insurance, undergoing a medical exam was very essential. But now with changing time the companies have come up with a new product which can provides the benefit of a Life insurance without an exam

It is more accurate to call it term life insurance no exam because it is a term life insurance type of policy, where you can choose the term. However, when we compare the benefit of a normal life insurance with medical exam and the term life insurance no exams the benefit amount is generally limited to a lower amount because the premiums are higher for this life insurance with no medical exam

This term life insurance no exam is generally known as guaranteed issue or simplified life insurance. It is known as a simplified life insurance because there are no hassles of undergoing a medical test. There are various benefits of term life insurance no exam. Firstly because it is life insurance with no medical exam, it is an excellent alternative for people who have some health problems or who may be older and wouldn't qualify for regular term life insurance.
Term life insurance no exam is the cheapest insurance you can buy. You must have term insurance particularly if you are the breadwinner of your family. The younger we are lower is the premium. So it makes more sense to buy a term cover early in life and get maximum coverage.

Life insurance has become a very important part of an individuals life. In today's modern life where everything is so dynamic, life has become the victim of time. Term Life Insurance no exam is a pure risk cover that takes care of risk to your life. These plans are available for a limited period for instance 10 or 20 years. Put in simple terms, should anything happen to you, your nominee would receive the sum assured. And if you outlive the term you receive nothing.
There are various companies which provide these Term life insurance no exam. These companies are Life Insurance Corporation, HDFC Standard, Kotak OM, Tata AIG, Birla Sun Life, Max New York, SBI, Aviva, and MetLife India. The age limit of Term life insurance no exam is between 18-60 years .The term for which the policy is available is 5 to 30 yrs. The only difference between Term life insurance no exam and a normal life insurance is that there is no maturity benefits when it comes to term insurance, Term life insurance no exam has only the death benefits. Generally the sum Assured or the face value is given to the nominee of the client. Answerfinancial