A company offering such a policy will slightly lower the coverage of the holder as compared to what he or she would have been normally covered for, if a medical exam had been conducted. The amount that your family will finally receive after your death will be thus significantly less than the death benefits from a normal policy. Since no medical exam is required, the insurance company is also taking a greater risk, so the premiums of such policies might be higher as well. However, if you are suffering from any serious health problems such as cancer, AIDS, HIV, diabetes, heart disease, stroke, liver disease, mental or nervous disorders, this type of insurance is not recommended for you. In the event that you have withheld a medical condition or lied about any information in order to qualify for a no exam policy, any claim with be considered immediately invalid. The company is then fully within its rights to not payout and change the terms without your approval or knowledge. Be wary of this type of policy being offered by financial institutions whose primary business is not the provision of insurance services. Finally, always make sure that the insurance company has been accredited by the Better Business Bureau to ensure quality and reliability. For more information on term life insurance visit AccuQuote.com
Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.
