For seniors who have reached the age of 80, finding the best, most affordable life insurance coverage may seemingly be difficult. Traditionally, life insurance companies charge more the older people get because they represent a higher risk. However, a no exam life insurance policy is easier to obtain and offers advantages that seniors over 80 can benefit.
A no exam policy is one that does not require a traditional physical examination. However, there are health questions which are asked, and the answers are verified through one form or another. For the senior, a no exam policy offers unique opportunities because it avoids the issues with having an examination that may lower the cost of the life insurance.
If you are a senior in good health, you might want to consider a traditional life insurance policy that includes a medical examination. However, if you are experiencing some medical issues such as high blood pressure or diabetes, for example, you may want to consider a no exam type of policy.
For seniors over 80 who are considering no exam life insurance, there are three solid reasons why you should make this consideration.
Because you do not undergo a physical examination, you will receive approval in just 48 hours or sometimes even less. Compare this to waiting for the results of a standard medical examination which can take far longer. Instead of having to wait for a week or longer, getting approval in under two days offers significant advantages. Plus, if the worst should happen and you are not approved, at least you get the answer relatively fast so you can look at other options.
Faster approval means faster coverage which means you get peace of mind sooner as a result. This may be the best reason why seniors over 80 should consider this policy.
Standard medical examinations can be a real bother, especially when it comes to scheduling the appointment and having to undergo a series of tests. By choosing a no exam policy, you can avoid the hassle and only have to answer a number of medical questions. This means less time spent in trying to qualify for the policy and less hassle going through the process.
Lower Insurance Rates
Perhaps the most important reason why you might choose this type of plan is that the rates may be lower than if you took the traditional route. The good news is that you can get free quotes from us that can help you decide which method may be best for you. Plus, a no exam policy occupies that happy medium between traditional life insurance with exams and guaranteed policies that do offer automatic acceptance, but at very high rates.
If you are a senior having reached the age of 80, there are affordable no exam life insurance policies that can help you cover the financial burden of your passing from your family. Be sure to get free quotes from different insurance agencies to see which policy is right for you.