How is No Exam Term Life Insurance Possible?
Nevertheless, no exam life insurance is a product that carries with it greater risk than the kind of life insurance that does require an exam as a blood and urine test reveals a great deal about the state of ones health. The increased risk represented by no exam life insurance to the life insurance carrier is offset, however, by several things: • Lower upfront costs–Regular life insurance almost always requires a paramed exam, and these exams are always paid for by the life insurance carrier even if the applicant decides not to accept the policy. This is very costly. • Fewer administrative expenses–Offering applicants the opportunity to apply online greatly reduces expenses • Higher premium–No exam life insurance is quite a bit more expensive than even regular term life insurance issued at standard. • Fewer bells and whistles–No exam life insurance policies may not have many popular riders that many carriers might include as standard in various product lines. Some things omitted ma
