No medical life insurance rates.
It would be fair for the consumer to
conclude that the rates for no medical life insurance would be
significantly higher than those for a regular term life insurance
policy.
Nothing is further from the truth.
In some cases the premiums
are a little higher than you would expect them to be but not so high
that you would be turn your back after examining no medical life
insurance rates.
If you think about it there really is no significant difference in premiums rates.
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In other cases the life insurance company keeps the
rates the same as they would charge had the applicant done a medical
examination or a para-medical examination for the policy.
May I be presumptuous and assume certain things? Because no
medical
is done the life insurance company can issue a policy at a lower cost
to them than had a medical examination been done.
The life insurance
company has to pay the doctor to check out the applicant. This is not
cheap.
It is therefore feasible to issue a policy on a non medical
basis as long as the life insurance company has reason to believe that
the applicant is in good health. They verify all answers to the questions asked.
I also assume that they do the
"inspection report" thereby opening to them the opportunity to uncover
any information that would void the policy.
Non medical life insurance
rates should be therefore, more often than not, the same as they would
be if a medical examination was done and the applicant was found in
excellent health.
Some rates are the same but some are slightly higher
but not sufficient to cause alarm in a healthy buyer.
These policies
are usually issued between age 25 and age 60 or 65. People are taking better
care of themselves today. The actuaries are very aware of the mortality
rate at any given age and the premiums are calculated taking this into
consideration.
These assumptions are very similar to those in their
thoughts as are there when calculating premiums for a policy issued on a
regular basis.
To conclude, I would recommend that you compare no medical life insurance rates but rest assured that more often than not you will get a fair deal from the life insurance company.
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