Reader’s Question:

I was told not to go with a no medical exam life insurance since I’m just in my mid-30s. Why should I buy (or not buy) life insurance without a health exam?

Lee

Albany, NY

Good question. A no health exam life insurance policy is a type of coverage that will either save you money or cost you more. This is because this kind of life insurance is not for everyone. No health exam policies cater to a market that either has a hard time getting live coverage (due to some medical or health condition) or does not want to undergo the rigors of a health test. This policy is more expensive than your average life insurance plan, since the insurer is taking a bigger risk for not knowing your state of health.

So a no health exam life policy the best type of life coverage for you? It would depend; unless you have a medical condition that makes you uninsurable then it will make more financial sense to go with regular life coverage instead (and take the medical test). This prevents you from paying unnecessarily higher life insurance premiums there in New York (or wherever you may be).

If you have had a hard time getting life insurance coverage due to health or medical reasons, then a no health exam life insurance plan is your best (and sometimes only) option. It would be more cost-effective for you to do so. Also, these days you can maximize your ability to get the best rates by using life insurance comparison websites. It allows you to access and compare the latest offers coming from a wide-variety of life insurers today.