Kidney disease, COPD, cancer, heart disease and even being overweight can all affect the ability to get life insurance or, if approved, can make it very expensive. But more and more companies are offering life insurance with no physical exam required and less questions on your application.
Some will ask if you smoke or a have a long-term illness. Others may want to know what your driving record is. But an exam in which not even a urine test is required means that many may be covered in one quick call. Some may call this a simplified plan and others guaranteed plan. This is why it is important to contact an agent to find the best company that fits your profile.
Although it sounds too good to be true, there are wonderful features for so many who have had few opportunities to be approved for life insurance in the past. However, the cost is higher because the company does not know what kind of risk they may be taking on you. Policy limits will be smaller and there is a two to three year conversion period. If something happens to you during that time, your death benefit may be less.
A simplified issue plan will want to know about your health history by asking questions and guaranteed means that no questions are asked to qualify for coverage. Generally, if neither policy works for you and you are working, group policies are available through your employer at no cost to you but with lower benefits.
This is why it is important to contact an agent to find the best company that fits your profile. Because of their knowledge, many questions can be addressed that can identify the best policy for you and your family.