Reader’s Question

I have seen and read a lot of advertisement about no physical exam life insurance in New York. Are these legitimate before the law?

Cindy

New York, NY

How are you, Cindy?

I hope you find this reply in good health.
Certainly there are policies out there which are offered through newspaper or magazine ads or made available to members or subscribers, may it be a professional or fraternal organizations. With the vast media coverage these days, including internet revolution, it is natural for someone like you to be skeptic about the legitimacy of these paid advertisements.
For one, no exam life insurance policy is a legitimate policy. The question is, who is the carrier and will this carrier give you a fair amount of coverage based on your premiums?

In most no exam life insurance policies, the amount of coverage might be of a limited sum and most would have a contestable period of a year or 2. Within the contestable period, the insurer can either modify or cancel the policy if there are discrepancies found in your application (say, non-disclosure of medical condition, and the like).

No exam life insurance might be a faster and convenient way to get life insurance coverage. However, they are usually more expensive for a relatively low coverage. I would advise you use this as a supplement for your existing life insurance, if you have any.

It is always bright to do research before you buy from these companies in New York that invest so much on marketing and advertising. There are so many ways by which you can gather the needed information. For a start, you can start shopping online and compare quotes. Simply enter your zip code on the relevant space on this page for free quotes.

Enjoy your shopping for no exam life insurance!

Reader question:

I only smoke a cigar maybe two, three times a year. You know, for celebrations. My candidate one, somebody had a baby, somebody graduated, my birthday. But someone tells me that I need Rochester NY smoker life insurance. How does that even make sense?

Greg

Glad you asked, Greg.

No, it can seem pretty nonsensical if you pick up a cigar fewer times a year than you have fingers on one hand, but the truth is that almost every life insurance company out there will stamp you as a smoker for it and charge you for Rochester NY smoker life insurance. Really, though, you have to consider that smoking a cigar is in many ways a lot worse than smoking a cigarette. Even though there’s only one cigar, it’s got the same chemicals as about an entire package of cigarettes. While three packs in a year still isn’t much, it is also considered to place you in smoker status.

Even if you had only smoker one cigar in the past year, you would still have to pay for Rochester NY smoker life insurance. You have to have done no smoking for 12 months in order to get out of that. Even so, since you smoke so rarely, you might be able to get away with saying that you don’t at all. There is some risk in that if you’re found out, your policy will be canceled, even if the company finds out post mortem. But considering how hard it would be to verify that you smoker three times a year, it might be worth the savings, considering that they can only cancel or eny benefits within the first 2 years.

take care,

Fashun