There are many reasons why people put off seeking life insurance. They might feel that they are too young, think the money could be better directed elsewhere, or that it is just too much hassle because of needing to have a medical exam to be accepted. The latter, however, is no longer the case, because we now have medical exam life insurance.
Also, we should consider that the worst could happen at any age, particularly in a pandemic, and so give serious consideration to having a life insurance policy and so securing our family’s future.
Term Life Insurance
It is important to take right steps to ensure your family’s financial future and the first step toward is to get a term life insurance. The term life insurance policy quote typically increases with your age. So, for healthy young and middle-aged applicants, a term life insurance policy is a great option to secure your financial future. This is considered the cheapest option. It is, however, still possible for seniors to purchase “simple issue” or “guarantee issue” whole life as the best non-medical insurance policies on the market.
So, this affordability for younger families will help with household budgets that need it the most, without ignoring the fact that nobody is immune from something happening and death at any point in their life.
No Medical Exam to Set-up Policy
Companies are now offering life insurance policies that do not require applicants to have a full medical exam. Instead, they will merely be asked a set of questions. It will be pleasing for many to know that they do not have to go through the trauma, or perhaps the embarrassment, of having a physical examination to be accepted for a life insurance policy. This also, of course, makes it quicker to arrange the life insurance, when you have already put it off for long enough.
The effect of having to have a medical exam is also that many people will be rejected and then not be able to have the life insurance that provides financial security for the future. This is thankfully eliminated with no medical exam life insurance policies. With limited information, life insurance underwriters are prepared to work out premiums and offer life insurance policies.
Seniors will find it harder to obtain no medical life insurance, but it is still possible. People who are not in perfect health, will also qualify on a non-exam basis. Matt Schmidt with Diabetes Life Solutions states “certain life insurance providers will offer coverage to diabetics without going through examinations. In some situations, life insurance for type 2 diabetics will be the same prices compared to plans that require medical testing.”
By Reducing Anxiety
Life insurance policies offer peace of mind to families. By the main wage earner taking one out,it is protection for a family financially should the worst happen. It would be distressing enough, but more so if financial worries were to come into play too.
Financial peace of mind is possible in many ways. Life insurance is the main way. Others include putting a sum of money aside each month that will grow into a reserve fund. A fund for a “rainy day” as they used to say. Well, the idiom can be traced to an Italian play of the mid-1500s that was written by A. F. Grazzini and called La Spiritata. The idea today is symbolic of difficult cloudy skies damaging one’s prospects. If you were a farmer relying on a good crop yield and good weather to make it possible, then this makes much sense. Anyway, not to digress, it is about not spending everything we earn and putting something aside to make sure that the future is as financially covered as the present.
To conclude, we can make life less anxious and easier with life insurance because companies are offering no medical exams. Cheaper options for younger families are making life insurance affordable. Also, life is made easier when anxiety is taken away for more people because they can more easily obtain life insurance. They can have the peace of mind that previously was not so easy to obtain. Those taking out life insurance policies can enjoy financial security for the future because they have everything covered should the worst happen to immediate family life.
So, there we have it – more reasons than ever to take out a life insurance policy. We can do it more easily and quickly without the need for a physical medical exam to prove our eligibility. It makes financial sense to take a policy out as soon as possible because nobody can predict what life will throw at us. Nobody, for instance, predicted the pandemic.