Does Life Insurance for Seniors Require Medical Examinations?

Life insurance is very important in your estate planning and it alone can provide the necessary financial safety.  Despite its obvious advantages, many people do not think about purchasing it or keep deferring the application date. This last situation can lead to certain difficulties in getting approval, since companies do not offer the best ratings to senior citizens.

life insurance3Furthermore, you will have to undergo numerous medical tests, since almost all companies that sell life insurance for seniors require medical examinations as a part of their underwriting process. However, you can find companies that sell no medical exam life insurance.

You can easily understand why almost all insurers ask for medical examinations.  Health has a direct influence over the price of premiums. Being also old increases the risk of having a disease, since the immune system is deteriorated in time. So, the insurers will ask you to undergo several tests that include: urine tests, blood tests, EKG, EEG, x-ray scans.

These tests will show if you are infected with something and can tell the company more about you and your habits. Some tests detect the presence or absence of certain proteins in urine, while others detect markers of alcoholism or drug usage.  So, there are few things you can hide.  And if you combine poor health with your age, the chances of getting insurance are really low.

No medical exam life insurance is a good alternative for persons that are both seniors and not-so-healthy.  You will not have to undergo any medical exam, but in many cases, you will have to answer to several health questions.

No medical exam life insurance provides limited financial support, with the maximum amounts of coverage smaller than the ones of standard policies. But this policy is your only chance of being insured and its benefits far outweigh all the costs. We advise you to look for life insurance quotes.

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