Life insurance is one of the best safety nets that you could ever purchase for the future safety of your family. It’s the best way to guarantee that your loved ones have the money that they need, regardless of what happens to you. If something tragic were to happen to you, your loved ones would be left with a massive amount of debt and final expenses, but your life insurance plan will give them the money that they need.
If you’re a smoker, you probably know that your life insurance application as a smoker is going to be more expensive. As a smoker, you have an increased risk of being diagnosed with severe health complications, which means that you’re going to be a much great risk to the insurance company.
If you have several health complications and you’re a smoker, you could assume that your life insurance policy is going to be too expensive, or that you’ll be declined for coverage in the past. In most cases, this couldn’t be further from the truth. Regardless of your health or if you’re a smoker, there are several options for life insurance coverage that you should be aware of when you’re shopping for life insurance coverage.
No Medical Exam For Smokers
When you apply for life insurance coverage, they are going to require that you take a medical exam to determine what your overall health is, and they are going to calculate how much your premiums will be based on your health.
If you’re in poor health or have severe health complications like diabetes or cardiovascular complications, which is going to cause you to receive drastically higher rates or even be declined or coverage.
If you’ve ever been rejected for coverage, don’t’ assume that you can’t get quality life insurance coverage. One of the best options for life insurance protection is to purchase a no medical exam. These plans will allow you to get life insurance coverage without having to take the medical exam, which means that your health isn’t going to impact how much you pay for your life insurance coverage.
The insurance company will ask you several questions about your health, but won’t force you to undergo a medical exam, which is an excellent option for anyone that’s been declined for life insurance in the past. There are several advantages and disadvantages to these no exam plans that you should be aware of when you’re looking to get insurance protection for your family.
Advantages Of No Exam Life Insurance For Smokers
Life insurance is the best safety net that you’ll ever buy, and your health shouldn’t keep you from getting that protection. No medical exams are an excellent way to ensure that your loved ones will have the resources that they need if you were to pass away unexpectedly.
Another advantage to no medical exam policies is that you can get coverage a lot faster than you can with a traditional life insurance policy. With a no medical exam policy, you won’t have to wait for the insurance company to get the results of the exam and to review them. With these plans, you can get life insurance protection in a matter of days, versus the month that it can take with a traditional life insurance plan. If you’re looking to get life insurance as quickly as possible, this is going to be the best choice.
Another advantage is that these plans are a lot easier to obtain than a normal plan. You won’t have the long and drawn-out process that you have with a normal plan. All you have to do is answer a few simple questions from the insurance company, and they will handle the rest. With some insurance companies, you can handle the whole process online.
Disadvantages Of No Exam Life Insurance For Smokers
The most notable disadvantage to no medical exam policies is that they are going to be more expensive than a traditional plan that requires an exam. The purpose of the exam is to determine what your overall health is, and the risk that you have by insuring you.
Without that exam, the insurance company is taking a much greater risk to give you life insurance, and they are going to offset that risk by charging you higher monthly premiums. If you’re looking to get the most affordable life insurance policy, applying for a traditional plan is a better option, but you can’t put a price tag on the peace of mind that life insurance will bring.
Another significant disadvantage of these no medical exams is that there is going to be a limit on how much coverage you can purchase with a no exam policy.
Most insurance companies will only allow you to buy $250,000 worth of life insurance coverage. For most applicants, this isn’t going to be enough life insurance protection. It’s important that you give your family enough life insurance protection, which could leave them with a massive amount of leftover bills and expenses.
If the $250,000 of term life insurance isn’t enough, then you’ll have to buy two no medical exams or apply for a traditional life insurance plan.
No Medical Exam For Smokers
Because life insurance is one of the best purchases that you’ll ever make, it’s important that you get the perfect plan for your family’s needs. We know that finding the perfect life insurance policy can be a long and difficult process, but it doesn’t have to be. Our agents can help you find the perfect plan to meet your needs.
Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the life insurance protection that your family deserves. If you have any questions about life insurance or no medical exam for smokers, please contact one of our agents today. We would be happy to answer those questions and ensure that you’re getting the best policy.