If you are all set to apply for a life insurance policy and think that you will have to undergo a medical examination, rest assured! There are options for those who prefer to stay out of the same.
- Simplified Issue Term Life Insurance - This term insurance policy does not contain any cash value component. There is a set term length to coverage. Such insurance policies can be shorter in length, somewhere from ten, fifteen to twenty years. People belonging to the age category – 21 to 75 –, can apply for the simplified issue term life insurance.
- Simplified Issue Universal Life Insurance - It offers cost and death benefits fixed for life. One may not be able to modify such insurance plans at any point; he or she will have to reapply for a new policy. People between the ages of 21 and 65 can consider applying for the simplified issue universal life insurance plan. Death benefit coverage amounting from $25,000 to $500,000 can be paid.
- Level Death Benefit Whole Life Insurance - This permanent form of life insurance has pre-determined costs as well as death benefits. One may not be able to change any part of the same after he has purchased the plan. Moreover, he can save some money due to the cash value component. This plan could work best for people up to the age of 80 years.
- Rapid Decision Senior Whole Life Insurance - If you need quick and instant insurance plan, rapid decision senior whole life insurance is your option because such policies are typically issued in less than a week time. The brief waiting period has made it a preferable choice of many.
- Guaranteed Issue Life Insurance - Often, people opt for a policy or plan that does not involve “question sessions”. You may not be turned down for the coverage due to various reasons such as health, etc. Generally, such insurance plans are purchased by people with medical problems.
Getting the right life insurance policy is a big decision and hence it must be an informed one. Secure assistance now!