Term Life Insurance No Exam

i want to get a term life insurance no exam policy on my father. Is that possible? Also i want to get the no health exam policy but i’m not sure how this works. what is the average cost per month. i know mine would vary i just want to know if it’s hundreds or under a hundred. Also how does life insurance work. do you buy a policy and then when they person dies they just mail you a check or can the policy just lapse. is there a policy to cover his whole life and which is better term or permanent. i have no idea so can someone explain this to me as if i were 5.

Hi REM

It is possible to get life insurance on your father if he consents to it.

A no health exam policy should be available. But there will still be some basic medical questions (that could increase rates or lead to a decline in coverage). And if he is over 80 there will be less companies willing to offer coverage. I can’t comment on rates as there is too much I don’t know about the situation.

When you have a life insurance policy on someone and that person dies, the beneficiary has to send a death certificate along with a claim form to the insurance company. In most cases a cheque will be prepared within a couple of weeks. In some cases the insurer might investigate the situation to see if there was any fraud in the application (especially if the person dies weeks after buying the policy).

Permanent insurance generally covers his whole life. One version of permanent insurance is whole life insurance.

I would recommend that you call a local insurance broker who can sit down with you and explain it to you.

Technorati Tags: exam, insurance, life\, no, term

Do we need to deregulate the health insurance industry?

Insurance companies are one of the most regulated industries on the planet. Instead of putting in place a Universal Healthcare System, should we model health insurance around the life insurance model in place today?

If we deregulate the insurance industry and allowed competition across state lines, it would be affordable.

You can have whole health that grows in value until you need it like whole life. You buy it young to get the cheap rates. You have term health that can be bought in 1 year, 5 year, 10 year or 20 year increments like term life. Premiums would be based upon the policy you choose and a physical exam.

1 year term health would be the cheapest and would cover the basic healthcare and the cost adjusts every year we get older. Whole health would be the most expensive and if you didn’t use the entire policy when you die, the retained value passes onto your children or spouse.

To me this makes sense vs. UHC. Thoughts?

We need to deregulate all the markets. Government regulations are bad, period. That’s what pushing business out of the country. No business, no jobs, unemployment, social support, your taxes go high. The market can handle by itself.
We don’t need the protection of the government, we can buy by ourselves and if things go wrong, we learn and move on.

question about insurance agent licensing exam?

Hi,

I’m going to be taking my insurance agent license exam for life and health insurance. I’ve been studying using the PASS package from Able. Is the Pennsylvania test similar to the study package…in that, mostly, you are just memorizing the terms. If anyone has used the Able system, is the state exam a lot like the quizzes and test in the study package?

I haven’t used the ABLE product, but the exams are pretty much the same in all states. You need to know especially the subtle differences between similar terms.

Whole life and term insurance thing again:?

here is my original question

http://answers.yahoo.com/question/index;_ylt=AloaSJ00r.VoSPxXAt2Z2jbsy6IX?qid=20070807141947AAb1AOI

very good answers and i want to explain a bit more. i am 34, my husband is 40. we dont have any retirement investments (for the most part). My concern is with term life ins that what if i get a 10, 15, or 20 yr policy – will i be able to renew for another term without question or by that time will i be subject to questions and medical exams or outright denied ? I just want to make sure either one of us will be alright either way. no kids.

You REALLY need to meet with someone who can help you develop a financial game plan. And then EXECUTE ALL the steps in that plan.

The big question which is very difficult to answer is "What will your financial picture be in 20 (or 30) years?" That includes what will your future expenses (and debts) be at age 54/60 (20 years) or 64/70 (in 30 years). Will you have enough money to retire? Will your debts be paid so that IF one of you dies after age 50, will the other manage? What if that death was prolonged and expensive (as in expensive medical treatments and loss of income)? What if one of you need nursing home or extensive home health care when you are 80?

These are complicated questions but very real ones.

Many term policies are convertible to permanent policies WITHOUT proving you are healthy BUT they are also expensive to convert. Be sure to ask how much the premiums will be if you convert at age 50.

Keep in mind that you CAN own both term and permanent insurance and that there are other kinds of permanent insurance other than Whole Life.

Go meet with several agents and planners. Expect to pay a fee.

*

life insurance no physical exam?

if someone gets approved for a $250,000 30 year term policy with no exam but after 10 years died from cancer, should the policy still pay?

he wasnt diagnosed with cancer until 5 years after he had the policy but the Dr said he may have had the cancer for over 5 years

so would that be considered a pre existing condition? even if it wasnt in his medical records when he was approved for the life insurance policy???

SHOULD THE LIFE INSURANCE COMPANY PAY????!!!!!!!!!!!!

Since he wasn’t diagnosed with it until 5 years into the policy, the policy should pay out.

Only way it wouldn’t would be if there is an exclusion in the policy.

I’m trying to decide between 20 vs 30 year term life insurance policy?

I want to buy a Term Life Ins Policy for the purpose of leaving some money for my kids once I’m gone. I am a healthy 55 yr old fem. I’m considering a $250K policy. For a 20-year term it is $59.72/mo. For a 30-term it is $198.52/mo. Let’s assume that I will live beyond the 30 yrs. At that time I will have to buy another term or convert to whole life, and most likely have to get another med exam (at age 75 or 85). Which term policy would be cheaper in the long run? I am considering a smaller policy ($100K) for 30 years at $92/mo to save money. What should I do?

If you want to make sure that you have a certain gift amount to leave to your children you can take 1 of 2 approaches.

1) Buy a whole life insurance policy for the amount you want to give or the amount you can afford. No risk. That $100K or whatever will be there if you die tomorrow or at age 120.

2) Buy the term policy for 20 or 30 years, and take advantage of the lower premium to be sure that you save up for the gift amount you want to leave by the time the term runs out. This is a little more efficient because you can control where you save and can probably get a better return on your money, but you take on a little more risk because the burden is going to be on you to make sure you save that money.

Which is better, Colonial Penn or Garden State Life insurance?

I am looking for a life insurance policy for my father, he is 54 and a non-smoker. I am looking at term life insurance and would like a policy of at least $50,000 with no medical exam. Are both of these companies legit? Has anyone ever dealt with these companies and had a loved one pass? Please share your experiences.

As a disclaimer, I work for Garden State and write for their blog. You can be assured that both are quality life insurance companies that have been around for many years. I don’t know Colonial Penn’s financial rating off of the top of my head but Garden State is "A" rated by AM Best.

RBC and HSBC are also quality companies that offer term life insurance without a medical exam if you just want a some more options.

If your father dies less than 2 years after the policy is issued there may be a delay from any of these companies because they will have to investigate the claim since it would fall within the contestability period. It may take a couple of months for you to collect. If he dies outside of 2 years then you should be able to get your death benefit in only a few weeks.

Switching terms or conditions of life insurance?

Ok, so let’s say I take out a 20 year term life insurance policy then after 13 years I want to convert to whole life. If I’m currently at a 1a rating, do I have to go through medical exams again and risk having my rating changed? In other words, what happens if I have a heart attack between now and then and then want to change policies? Would they then rate me 4c or something and it end a relatively larger amount?

There are "guaranteed renewable and convertable" riders you can add to that term policy, when you first buy it. As long as you’re not increasing coverage, you could convert it to whole life whenever you wanted to, at the predetermined rate. Not the predetermined term rate, the "guaranteed convertable" rate. It will be a lot higher, as the whole rate is higher than the term rate.

They won’t rerate you, unless you want to increase your cvoerage amount.

Life insurance? 10pts?

I am looking for a quick no medical exam required term life insurance, where do I find that at, at a resonable price?

If you can answer "no" to five health questions, you can purchase up to 150,000 of term life insurance with United Home Life with no medical exam required and no restrictions. You can even purchase this on the phone or through the mail with one of their independent agents. A recorded phone interview is required on all applications that are not taken in person.

Where can I find affordable life insurance for sr citizen in-laws?

I read a previous thread suggesting MediCare, but I am not talking about HEALTH insurance. They only have term life insurance tied to current job, and they need to retire. They have no burial policy, and each is worried about leaving the other with burial expenses and debts. I have seen a few ads online, but when you get to the fine print, they seem mostly like scams. They probably wouldn’t get a very good rating if a health exam were required. Probably $15 -$25K max would be the amount needed. They live in Texas if that matters.

I just went through the same thing with my brother. He had recently been diagnosed with cancer. I posted here and got some great responses. The company that helped us was located at http://www.lvhealthins.com Because of my brother’s condition there is a two year waiting period before full benefit will be payable but it is with a great company and the people there at Insurance advisors were great to work with. They listened to our problem and were also able to help me with Health Insurance. It works out well that you are from Texas. They are based in Texas and Nevada. Good Luck

« Previous Page — Next Page »