This means that they are only in force for specific amounts of time. This insurance policy does not require that you have any physical exam whatsoever.
Most no exam life insurance policies are term insurance policies. The examination's purpose was to prove that the person who wanted to invest in the policy was in good enough health to be insured. And, with increased competition, a number of plans that were not available before, such as life insurance no exam policies, are now available. If you weren't in good health it would be more likely they would have to pay your insurance benefits before they could make a profit, so they wouldn't insure you. Up until recently anyone who wanted to get a life insurance policy had to go through a predetermined series of steps that included getting a physical examination.
But, since the Internet became an everyday fact of life, almost anyone can get almost any type of insurance policy on the World Wide Web. That was because, as smart business people, insurance providers didn't want to take any unnecessary risks. |