My next-door neighbor was asking me about no exam life insurance and if it was available in Buffalo New York NY. How would I know?

Silvia

Buffalo, NY

Well, Silvia, your neighbor should have done what you yourself did, and that is go online and get some information from the internet, or are you just more tech savvy than your next-door neighbor? Since we are chatting now, I might as well tell you about this no exam life insurance that she was talking about so that you can explain to her if she still can’t access the internet, or is unwilling to.

No exam life insurance basically is your regular life insurance, except that the applicant is no longer required to take medical examinations and that is why it is called no exam life insurance. If this seems bizarre to you since you have only heard of the regular life insurance application process in Buffalo New York NY, I will explain some more and hopefully make you see its merit.

Medical exams are required because obviously, the health condition of the applicant is very important when evaluating an application since it is the basis of the risk level of the applicant and the consequent life insurance premiums. In no medical exam life insurance, the usual medical report resulting from medical examinations will be replaced by a lengthy application form to be filled up by the applicant, in which all questions related to her health is asked. She should be responsible enough to know all the relevant details because it is a risk to her when she has failed to declare some pre-existing conditions.

No exam life insurance has been around for quite some time and it is definitely available in Buffalo New York NY. Do your neighbor a favor by entering your zip code on the blank space and getting free quotes which she may want to read.

I’m a systems analyst working for a software company in Buffalo New York NY. I’ve read about whole life and term insurance. Which one should I get?

Alvin

Buffalo, NY

Here’s a bit of history. In the beginning there used to be just term insurance, Alvin. Convenient, isn’t it?

People then bought a life insurance policy in Buffalo New York NY and other states for a fixed term, say 10 years. So if Mr. X purchased his life insurance policy on February 14, 1960, the same expired on February 14, 1970. Now, the sad part: when Mr. X died on February 15, 1970 his family got nothing because his life insurance policy was no longer in force. The fact that Mr. X paid premiums on it every Valentine’s Day for the past ten years didn’t matter at all.

This situation caused dissatisfaction among the people everywhere, including Buffalo New York NY. To avoid losing business, life insurance companies told their actuaries (the people who compute life insurance premiums) to design a product that made sense to the public. The result was whole life insurance.

A whole life insurance policy that you shall get in Buffalo New York NY covers you for a lifetime. It gradually accumulates savings in the form of “cash value”. However, it costs much higher than a term life insurance policy. Fill in the form on this page for information on life insurance policy prices.

I suggest that you see a life insurance professional in Buffalo New York NY for more details.

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.