by Cindy Abbate

Created on: November 28, 2007

No-medical-exam life insurance means that a health exam is not required to be accepted. It generally applies to term life insurance. This type of coverage is for a set period of years.
Usually the periods are five, ten or twenty years. The other type of insurance is term which stays in place during your lifetime.

Many sources will tell you that you have to be young and healthy to qualify. This isn't quite true but you will have to pay more to compensate for the carrier's increased risk. The cost of the insurance goes up and the term goes down with the more negative answers you provide. If you're shopping online - which is he most convenient method - go to one of the sites which offers quotes from a variety of providers. You will be asked to fill out a short questionnaire before the quotes are listed. I'm not a spring chicken anymore (for the most part my health is fine - knock on wood) but was told I would be accepted for a twenty year policy. The catch is the cost was quite high $1420 to $1560 per year.

To go further into the process you would need to fill out forms which will question your general overall health status. You can do this online or on paper. If you chose online you can get an answer on approval in minutes, pay by credit card and print our your policy.

For the most part it's a simple process but you need to be honest when responding since false answers will only get you a canceled policy.

Term life insurance protects your family over a period of time when perhaps you feel particularly vulnerable. If you're a sole provider for your family a policy of this type can offer protection to your loved ones during a time when your spouse stays home to raise the children. Later in life you may have enough reserve built up not to need the added security.

The above is only one example of many. Term life insurance can (provided you're in decent health) be a hassle free way to have added piece of mind.

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