| By :
Wendy Moyer
Did you ever wonder why life insurance companies ask you to complete a physical examination as part of the regimen you need to go through if you want to qualify for a term life insurance policy? When you look at it from the insurance company's perspective the answer is actually quite obvious. In order for the insurance company to rate you and charge premiums that are in line with your actual health status they will need some sort of verification and a medical exam will do exactly that. For this reason having a medical exam can often save you money for your life insurance policy. You can usually get this type of policy without ever having to leave your home except for going to the mailbox to send in your application. Often, just by answering a few health related questions with a simple "yes" or "no" you will be able to get up to $50,000 in insurance coverage. The entire process can be handled through the mail and will not involve willing out long forms medical history forms. Getting life insurance without having to take a medical exam is a hassle free way of getting coverage that could pay for your mortgage, your unpaid credit cards, your car loans, and much more should you pass away. Filling out simple form eliminates having to go through the drudgery taking hours to fill out a lot of complicated and unnecessary paperwork. Keep in mind, though, that this type of policy is usually more expensive because the insurance company assumes additional risk by relying on you to provide information rather than getting documented facts from a medical professional. It actually makes a lot of sense that they would charge higher premiums for no medical exam life insurance than they would charge if you underwent a complete physical exam. None-the-less, this should not discourage you. Online insurance coverage without the need for a medical is available for rather affordable premiums. Some companies offer a $1 trial, and then adjust their rates based on your age. They guarantee those adjusted rates for the life of the policy. Other online insurance companies offer rates for as little as $3.49 per month for this kind of insurance. The amount of coverage you purchase can vary from $5,000 to $50,000. The more coverage you have the more it will cost. Often people purchase this type of insurance policy to supplement their existing insurance policies. Senior citizens also often purchase guaranteed issue life insurance policies because they, too, don't require a medical exam. However, the premiums for this type of insurance is relatively high.
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