Chicago, IL (PRWEB) September 07, 2013
Following a September 6th Wicked Local article, entitled “Denied Term Life Insurance”, PageHamster.com urged individuals and families unable to qualify for term and whole life insurance due to a preexisting medical condition or history to consider purchasing a no medical exam life insurance policy. No-exam policies do not require extensive medical exams to determine premium rates or policy efficacy. Instead, no-exam policies are designed to assist those struggling with securing traditional life insurance policies due to a medical condition, poor medical history, or other medical concern.
Dave Ramsey, author of the abovementioned article, composed a response to a family concerned with a man’s inability to secure a life insurance policy due to a criminal offense in his background. The man had a pre-existing life insurance policy that was still in effect, but had outstanding premiums and was a source of financial distress to the family. Ramsey encouraged the family to consider alternative methods of securing life insurance, including mortgage insurance and credit card insurance. Though neither of these options is the equivalent of a life insurance policy, they act as a suitable alternative until the man’s criminal record is no longer a factor in securing insurance coverage.
PageHamster.com urged individuals and families to consider alternative methods of insurance coverage in the event of being unable to secure a traditional term or whole life insurance policy. Though the man in Ramsey’s article was unable to qualify for an insurance policy because of a criminal record, a poor medical history is a common cause of being unable to qualify for a life insurance policy. In this case, life insurance no medical exam as described in this article, may provide an effective alternative to traditional term or whole life insurance, as life insurance benefits are available to those with a medical condition or unfortunate medical history.
Dave Ramsey is a self-made financial guru, offering numerous classes and published works regarding personal finance and money saving tips. He began his financial empire as a real estate worker, but shifted his attention to finances after the loss of the entirety of his financial wealth. He has since recouped his losses and continues to work as a financial advisor.
Following an article in which Dave Ramsey urged a family to pursue alternative methods of insurance after being rejected for his criminal history, PageHamster.com encouraged readers with unfortunate medical histories to consider the purchase of a no medical exam life insurance policy. Just as mortgage insurance and credit card insurance may be purchased by an individual with a criminal history and secure some income replacement, no medical exam life insurance offers an alternative income replacement source for those with poor medical histories or medical conditions.
PageHamster.com is a new addition to the online financial world, offering financial news and advice, including insurance advisement and money management tips.