What exactly is no questions asked term life insurance? How can one go about getting an instant life insurance policy with no questions asked? Is this type of policy even a reality?
People all over the United States are starting to demand more and more from the life insurance industry. One of the main types of plans that work for just about anyone is that of Term Life Insurance. However, it is important to understand that some people might not qualify in this type of life insurance policy because they have a health related condition or simply because they are perceived as too old. For those people we have good news! Some life insurance companies have developed a type of life insurance called No Questions Asked Term Life, which gives everyone the same opportunity to be qualified for the same coverage.
What Is Term Life Insurance In A No Questions Asked Policy?
Before even entering in the talk about a No Questions Asked policy, it is important to mention the most important part of the plan and that which the entire life insurance policy is made of. Term Life insurance simply refers as a contract for a specified amount of time between an insurance company and an insured. The contract simply states that the person will be covered for a specific period of time and with a set death benefit.
This simply means that a person that wants to purchase a term life insurance policy will need to know the complete amount of money that they want to purchase the policy for (this vary and some common ones are $ 200,000 and $ 250,000), and the specific period of time that they want to be covered (most companies offer anything from 15 to 30 years). It is important to highlight that in this type of policy the death benefit to a beneficiary is not a guaranteed one because the insured might still be living after the certain period specified in the policy.
What Does No Questions Asked Mean In A Term Life Insurance Policy?
A No Questions Asked Term Life Insurance may differ from company to company. Most of the companies simply refer to their policies as No Questions Asked when they only require the customer to give out only a few information about their past medical history and nothing very detailed. This can be very useful to the people that are of age and are trying to look for the a type of insurance that will still benefit their families and not make them go through financial burden after the death of the insured.
It is important to understand that even with this type of insurance the person will still be asked a few questions about their health in most life insurance companies. It is simply called No Questions Asked Term Life Insurance because the process of getting a quote and actually getting a policy takes much less than others.
There are a variety of life insurance companies offering this service because they know that although there is risk associated with insuring people of age, they will still be getting money from them in the long run. It is important to understand that because the "risk" of insuring a person of age is higher than insuring someone younger, most insurance companies charge a higher premium every month so that those people are covered. Whatever your situation is, just make sure that you have researched all your possible choices before actually picking one that is best for you.
Shopping For No Questions Asked Term Life Insurance
This might be perhaps one of the hardest things to do simply because not every company in the market offers this kind of term life insurance. There are two ways however, in which you will be able to shop and actually be successful at finding the No Questions Asked Term Life Insurance Policy that best fits your needs.
One of the options you have is to get your local yellow pages and call companies in your local area to see if they offer the service. After finding a few that will give you the possibility of getting a No Questions Asked Term Life Insurance Policy then simply go visit them in person. Once you find yourself in front of the agent just ask things that you need clarification with about the pertaining subject. While in the process of retrieving the quote take a look at everything around you and how the company works. Are the customers satisfied? Are the agents knowledgeable? After finally getting the quotes from the different companies you can compare the companies and choose the one that best fits your needs.
The other option available to you when searching for a No Questions Asked Term Life Insurance Policy is to do it online through the comfort of your own home. When online you can use websites called insurance comparison websites that will allow you to simply fill out your information once. After doing this that information will be matched with a variety of companies and you will be able to get quotes from dozens of companies.
One thing to make sure is that the site is independent for more accurate quotes. When using the Internet you could also visit some of the official life insurance company websites and check out to see if they offer a No Questions Asked Plan. The bad thing about this process is that you will be having to fill out your information in every single company websites; however, if you have time then this might be something you want to explore.
No Questions Asked Life Insurance Policies Are Out There!
It is important to understand that since there is a increasing demand for life insurance; companies have started to create products to attract more customers. The No Questions Asked Term Life Insurance Policies were created mainly for those people that want to be covered in case of an unexpected death, but for some reason can not get a normal life insurance policy. Although these kinds of policies tend to be a little bit more expensive than other ones, it is important to understand that it is better to be safe than sorry. So go out and get your No Questions Asked Term Life Insurance Policy now while you can!