No Medical Exam Life Insurance for Seniors
When it comes to protecting your family and ensuring they will not be left in a financial lurch when something happens to you, life insurance is one of the most important things that you could ever consider adding to your financial plan. The problem is, when you reach a certain age, it can be difficult to purchase life insurance at all. Even if you are capable of finding a life insurance policy that will allow you to have the protection you need, it can be tough finding a policy that is affordable. You simply have to know where to look.
Seniors still need life insurance
Having the right life insurance policy is an important part of your estate plan. Without it, you are exposing your loved ones to the possibility that they will be held responsible for any final expenses you leave behind like debts, taxes and burial costs. When you consider that even a simple funeral or celebration of life can easily cost thousands of dollars, it is easy to understand how your final limo ride can quickly become a financial burden.
Finding a life insurance policy that works
Many seniors struggle with wanting to purchase an affordable life insurance policy. Any coverage has to make sense for your plan and your budget.
The two key things when it comes to purchasing your no medical life policy are:
- Are the premiums affordable? A policy that is prohibitively expensive is not going to do anyone any good so it is important that the policy be competitive when it comes to pricing.
- Is there a medical exam? Most seniors want to purchase a policy without taking a medical exam or completing a long questionnaire.
While not every senior has medical issues that would prevent a successful life insurance application, some do and a no medical exam option can be a really good. Many brokers can offer a non face to face option so you can apply for your insurance over the phone and in some cases, with a screen share so you can easily see what the broker sees on the computer.
Bringing it all together
Fortunately, there are policies available that are both reasonably priced and available without a mandatory medical exam. Most of these policies are designed expressly for seniors.
The face of life insurance is changing and it is not always necessary to get a medical exam in order to obtain a policy anymore. The best way to make an educated decision is by calling a life insurance broker to get detailed information and pricing from all possible Canadian Insurance Companies – independent brokers can advise on the entire marketplace.
Finding the right life insurance policy is not always an easy task, but it is one that is well worth the effort. Purchasing a policy is easier now than it has ever been in the past, even for seniors that have significant health issues. Everyone has the opportunity to purchase a life insurance policy that can protect those they love.
The peace of mind is worth the time it takes to pick up the phone and find the right policy.