No Exam Term Life

Everyone wants a painless and easy approach when it comes to purchasing life insurance. That can actually be a reality if you know what to look for when shopping for life insurance. The painless part has every thing to do with the cost. Term life insurance is by far the least expensive of all forms of life insurance. Easy has everything to do with making a life insurance purchase that is simple and time saving. That points to purchasing insurance that requires no medical exam. These are called the non-medical limits by most insurance companies. That’s the good news. The bad news is that the non-medical limits get very restrictive as you get older. Life insurance companies need examinations to underwrite policies as we get older.

If painless and easy is your goal then it behooves you to shop for the largest face amount of life insurance that you can purchase without a physical exam. The medical insurance bureau is used by almost all life insurance companies to investigate the medical background of all of its applicants. The MIB may have medical information on an applicant that may eventually require a medical examination or a rejection of the application. Do not seek a non-medical insurance policy to hide a pre-existing condition. A future claim may be denied because of misrepresentation on the application.

Try the marketplace and research the non-medical limits. If you are in good health and have no pre-existing condition then a life insurance purchase without an exam is a definite time saver and will make life easy for you and the insurance company. Make sure that you divulge all of your medical history on the application as well as your primary care physician. Annual physical exams and regular medical check ups are viewed as a positive by life insurance underwriters. There you have it. You have enough information to implement a painless and easy strategy for your next term life insurance purchase.

Quotes

You see them everywhere: on buses, note cards, television shows, books, and even coffee cups. Quotes have infiltrated our very world and are excellent ways of showcasing a unique thought, idea, or inspiration. Many individuals are at a loss when it comes to actually using quotes in everyday aspects of their lives, but fear not! There are a million different uses for your favorite quote.

Quotes do not have to be stodgy, historic, or dated. Many individuals see historians with wire rimmed glasses spouting off famous quotes while teaching lessons to a class of under-eager students. Quite to the contrary, quotes can add a spark of fun in your life!

Use quotes for personalization reasons. Perhaps you have a specific quote that has become your motto over the years. Maybe you have a couple of quotes that best signify your style and your way of life. Embrace your favorite quotes and work to include them into your lifestyle.

Incorporate quotes into the design of your home. Paint words of inspiration above doorways or on blank walls. Frame treasured quotes for posterity or embroider quotes into fluffy robes so that you can remember them on brisk mornings.

Affordable Term Life Insurance

A common way that people search online when purchasing life insurance is "affordable" term life insurance. What exactly does that mean...the term affordable? We all have a sense of the word but let's see exactly how it applies to the decision of what term life plan is best for you. We'll also look at how to get the best rate and most importantly, not pay for coverage that you do not need. So let's look a little closer at securing affordable term life insurance.

Back to the term affordable. According to Merriam-Webster's dictionary, the definition of afford is:

1 a: to manage to bear without serious detriment b: to be able to bear the cost of

This doesn't really help us much. Affordable in terms of life insurance definitely points towards term life as oppose to whole life. Whole life can be considerably more expensive and as we discussed in our Term life versus whole life article, the benefits seem to be more for the carrier and whole life agent than you. In fact, term life is probably the only kind of life coverage that falls under the heading of "affordable".

Further more, you are looking at having this coverage for years if not decades. This means you need to be able to afford it...to manage to bear without serious detriment. A 40 year old can get 100's of thousands of life coverage for $30-40 monthly. That's affordable. More importantly, it's much more likely to be affordable 10 or 20 years from now if things change in your life financially. You don't want to be locked into $100-200 monthly if things change. The danger is that if your income decreases or worse yet, you suffer a layoff, one of the first things you'll look at cutting is that big life insurance premium. That defeats the purpose of buying life insurance in the first place. We want affordable term life insurance so that we can feel we can comfortably manage the premium over the long haul.

Health Insurance Quote

Whether you are seeking health insurance through your employer or on your own you will be offered a variety of plans. In order to make the proper decision about which plan is right for you it is important to know the basic characteristics of the most popular types of health insurance. After this it is wise to get many quotes on health insurance and compare them. This is a free way to compare plans and prices.

Fee for service

For many years the fee for service plan was very popular and widely used type of health insurance. The insured pays a monthly fee. A deductible is applied to the cost of the services. Some services related to healthy living or emergency services may be exempted from the deductible. Once the deductible has been met the insured and the insurance company share the cost of services. For most companies the split may be 80/20 or 70/30. The company pays eighty or seventy percent, the insured pays twenty or thirty percent. There will be a cap on the total amount of money the insurance company will pay in a lifetime.

Health Maintenance Organization (HMO)

HMOs have become increasingly more common in the last decade. Again, the insured pays a premium which makes him/her a member of the HMO. As a member of the group the member is entitled to visit any of the doctors who are part of the group. These doctors may all work together in an HMO facility or may work in individual clinics as part of a group of doctors under contract to the HMO. Members may have to pay what is called co-pay when they visit the doctor. No paperwork is necessary to validate the claims of an HMO member; however, members may wait longer for non-emergency appointments than they would with a fee for service insurance program. An HMO generally requires its members to have a primary care physician who then refers the member to a specialist if needed.

Preferred Provide Organizations (PPO)

The PPO, a blend of the fee for service model and the HMO model, is a fast growing sector of health insurance. As with an HMO there is a network of doctors from which the insured chooses his/her physician. This physician is responsible for designating the need for specialized care. A co-payment will be required when an office or hospital visit is made. There will also be a deductible and medical expenses will be divided at an agreed upon scale between the insured and the insurance company operating the PPO. A person may choose to use a doctor who is outside of the network. Expenses incurred for medical care outside the network will make the patient’s share higher.

Life Insurance Rates

Life insurance at the present time is very affordable. Competition in the life insurance market together with the cost savings that life companies are making by operating on the Internet has depressed insurance rates, bringing them down to historic low levels. For a healthy non-smoker in their 20s, life insurance rates can in fact be as cheap as £5 per month!

However, there are many factors that influence the final outcome of the life insurance rates for any one individual. Everything from hereditary diseases to diet will figure and, depending upon the answers that we give to the insurance company, will see our life insurance rates climb higher or drop lower than the average rates for our age.

So, just what factors will affect the insurance rates that a life company will quote for life insurance? Here is a summary of the most important elements to consider: -

Age - The younger you are the lower your life insurance rates; the older you are the higher your insurance rates. Young people are seen overall as less of a risk to the life insurance company than older people. This is because the life company simply anticipates that young people with live longer than older people over a finite time from the current date forward. As a result, young people will contribute a higher number of monthly insurance payments before they die than will older people over the same timescale.

Term Life Insurance Online

Term life is a form of life insurance where you’re covered for a number of years - the number of years is called the term. Term life insurance policies can be for as long as 30 years or for 20 years, 15, 10 or 5. After those years the policy can either be over or it can be renewed at a higher price based on your age at that time.

What’s the best way to utilize term life insurance?

Term life is very good to have a lot of insurance – for now. It makes sense if you have kids at home who are dependent on your income coming in for years to come for their living expenses. Also, a spouse, even if working, would have a financial hardship in case of your death. If you can’t develop the funds for permanent life insurance like whole life insurance then get the most term that you can.

Are there “stores” for term life insurance on the web?

Yes, but they are not all the same:

a. There’s the sort that asks for information about you which is marketed to agents as a sales lead.

b. Then there are ones that sell life insurance but want you to give your information before giving you insurance quotes.

c. The websites of life insurance companies themselves which are usually informational in nature and if you email them, you’re referred to one of their insurance agents.

d. An internet site that gives you direct and anonymous access to term life insurance rates. Then if you get a quote that works for you, you can make contact. One that does this is www.lifeinsure.com .

Suggestion/Action Plan

If something happened to you and you have people financially dependent on you, it's crucial that you have ample life insurance whether term life insurance or if finances allow it – permanent life such as whole life or universal life. Go to a website that allows you to learn on your own and get various quotes from a lot of life insurance companies. The web can be of immense help to you in this research.

Term Insurance Rates

When you decide to invest in life insurance you need to compare rates for your individual needs from various companies.

Premiums on permanent life insurance policies are guaranteed never to increase beyond the rates outlined in the policy, even though the cost to the insurance company for providing the coverage will not be known for many years. Due to this uncertainty, premiums must be set at a conservative or higher level which ensures the company's ability to pay the benefits, regardless of the future considerations.

Term Life Insurance Is Different

However for term life insurance, this is not the case as usually the periods of coverage are for a fixed period of years, for example 10 years. If you take such a policy, you would then need to renew it at a higher premium. And you need to remember you may have to undergo a medical exam at that time as the company regards this as a new term life policy.

But the good news is that in Canada, you can buy a "Term 100 year" policy which takes you up to that age at a fixed premium. It's more expensive than a "Term life 10 year" or a "Term life 20 year" policy but except for older ages, it it still less expensive than whole life insurance.

The Cost Of A Term Life Insurance Or Whole Life Policy Is Determined By Three Basic Factors:

Mortality. The life insurance company initially assumes a certain projected rate of mortality for the lives of those insured. This rate varies with age, product, sex, health and number of years from the issue.

Expenses. The insurance company projects future operating expenses, such as policy acquisition costs, company operating expenses, and other costs of doing business.