No Medical Term Life Insurance Is A Useful Option

Author:

David Livingston
Getting some kind of life insurance is always a good idea. And with the competitive rates available in the market today, it would not be too difficult to find a plan we can afford. All that is needed is some commitment to a little bit of research and confirmation of rates before we make that purchase.

Insurance has been classified into two types, basically they are as follows.
- Universal or whole life insurance. This requires premiums to be paid throughout the policy.
- Term life insurance. This requires premium payments to be made for a specific term.

Getting insurance term life is a nice way to prepare us for the term in our life where we are most susceptible. This could be the period in which our children are going to their school or during our early days of a business venture where we need a protection to avoid the loss.

Insurance by all means is not a protection you obtain. It is objective is to provide a sense of security and safety and a piece of mind in case if you happen to meet a tragedy. Tragedy can hit an individual any time a car accident, a mugging, on the street, a plane crash or burglary. Even if we are hit by a tragedy like this, we want to provide the family the cushion and an assurance to them.

Term life insurance amongst the two types is preferred by financial analysts as a safer option for your money. This is due to the fact that they are offered at a fixed rate and most often cheaper compared to other types. Thus, the rates offered are also competitive and the balance in amount can be used in other investment options such as mutual funds etc.

No medical term life insurance is a safe option for those who dont have time to analyze and decide. This provides a better buying option for the insured as he no longer needs to sit thru various presentations of the insurance representatives before signing them up. Most often, this will provide the rates online and with time you can get to know about it totally.

Cheap term life insurance quotes is not a tough combination to obtain. They are often sold with the simplest policy framework, hence easy to understand. The conditions will be straightforward and procedures are easy to follow. They require very little documentation and paperwork and hence they are made cheap. Lesser the documentation work, lesser the administrative work involved and lesser costs in turn.

One more reason why term life insurance quotes are preferred due to the fact that they can have very low payout rate. Term policy is only for a specific timeframe, and claims are made within that timeframe only. People who are optimistic in life will feel that nothing will happen to them and those who always say something bad will happen and it will be a waste of investment. Payouts are very low and hence it has very low administrative costs.

Simple no medical term life insurance plans can change our lives, which include:
- The arrival of a new entrant into our family
- Career move that could change our lifestyle
- Relocation to another country for work reasons which has very little safety for crimes or inadequate medical care
- Family businesses gets merged
- Employment terms being changed.


Many people prefer life insurance plan that has no medical check-ups, doctors letter confirming you are healthy or a signature from a medical practitioner. This is one of the reasons why people prefer this type totally. Further, we are protected immediately. Much quicker than a conventional life insurance plan. Traditionally, it takes about 3 months to take effect, this plan only takes about 14 days to process and complete coverage can be given in a month. Some competitive insurers try to sell the policy by providing complete coverage within 14 days itself.

This makes this plan very attractive. A life insurance that is cheap, adequate, convenient and quick to activate what more could we ask for?
Article Source: http://www.articlesbase.com/insurance-articles/no-medical-term-life-insurance-is-a-useful-option-5460831.html
About the Author
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on life insurance term and term life insurance no medical exam, visit his site today.