No Medical Exam Life Insurance or Term Life Insurance? What Should Seniors Choose?

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News Image has released a blog comparing term life insurance and no medical exam life insurance plans for seniors.

Term and no medical exam life insurance are two popular policies. They have the same purpose: to provide financial stability for family members. Since many American household depend on two salaries, the death of a spouse can put the remaining family members through great financial difficulties. Life insurance pay a death benefit if and after the insured dies.

Term life insurance plans can be advantageous for seniors because they guarantee a high value coverage. Their underwriting process, though, is complicated and seniors who have pre-existing medical conditions may not qualify for a plan. There is also an age limit and seniors older than 65 years are not eligible for coverage. Even if it has a complicated underwriting process, term life insurance is one of the cheapest plans available.

No medical exam life insurance plans can be either permanent or temporary, and as the name suggests, they do not ask their applicants to go through medical tests. This makes the underwriting process a lot simpler and provides many insurance opportunities for seniors.There are two popular policies which do not require medical examinations: simplified issue and last expenses. The second type of coverage is permanent and it is designed for seniors who want to cover funeral taxes. It can also provide coverage for seniors older than 65 years.

“Life insurance, whether it is a term or no medical exam plans, it is still very important and seniors should consider purchasing a policy!” said Russell Rabichev, Marketing Director of Internet Marketing Company and is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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