Here is life insurance tip #10 of the series…
Tip #10 To Get Your First Life Insurance is: “The Process Doesn’t Have to Be Painful”
Look, you don’t have to be prodded and poked through the appeal process.
Let me tell you why
Plenty of insurers have been changing to options for no-exam life insurance.
Alternatively, they rely on third-party support to check data modeling and the information applicants present to arrange their risk class.
Thus, be fully aware, though, that there are various types of no-exam policies.
- Usually, the most costly way to buy a no-exam policy is a guaranteed issue life insurance policy that asks no health mysteries.
- A “simplified issue” policy that only expects applicants to fill a few questions and relies on few if any, third-party references will have more expensive premiums.
- An “accelerated underwriting” policy that includes a piece of lengthy information and application from third-party sources typically will have premiums that are competitive with a completely medically underwritten plan with an exam.