Looking for life plans with no health questions can be a real challenge. Yes, there are a large number of insurance companies with different policies about seniors, but only a few of them offer policies with no medical exams. All of this is due to the fact that when elderly reach 70, they face different kinds of health problems. It was very hard for individuals over 70 to get insured. That was a big problem for the elderly and their families and most of them were trying to find a policy for their loved ones with no health questions asked.
Why do people seek for life plans with no health questions?
This type of policy is perfect for seniors who know that they are not in the best possible health condition and taking a medical exam or health questions will only bring negative results. It is also good for those who do not feel comfortable getting an exam by another doctor. No insurance company will accept the health exam provided by your doctor. If you are one of those people who prefer life plans with no health questions, there are a few things to consider before applying for such policy.
Buying an insurance with no medical questions
There are insurance companies that will give you the opportunity to buy an insurance without taking any medical exams or questions. Some of them may ask you to fill out a form with history illnesses in your family. If you are willing to do this, you must be prepared financially because you may be asked to pay higher premium rates compared to life insurance policies with health exam. There are all kinds of options available for older people even for those who have more than 70 years of age. Some of these individuals want to apply for life plans with no health questions only to cover their death expenses which can be huge. Sometimes this can be the only type of insurance they can buy.
Here are some of the types of life insurance for elderly parents:
- Term life insurance
- Whole life insurance
- Guaranteed life insurance
How to reduce the cost of cover?
There is only one way to avoid paying higher premium rates – change your lifestyle and live a healthy life. So, if you smoke cigarettes or drink alcohol stop doing that immediately. Try to maintain a normal body weight and eat healthy food. Avoid drinking sugary drinks and replace them with water. Your health condition will improve and there will be no reason not to take the medical exam.
What else can you do?
Before applying, have a conversation with a legal entity to become familiar with your rights as well as the laws you need to respect. Ask them how to minimise the risks of penalties and the steps you need to follow. Your attorney can assist you with the preparation for the application and choose the most suitable life insurance for you. This is the smartest way to apply for a life insurance and avoid having problems in the future.