There has been a significant increase in the number of insurance policyholders in the past few years. These numbers have tremendously risen to post the pandemic. Consumers are beginning to comprehend the fragility of their health and life after Corona. Most people are looking for various options to secure the future of their families. A fair percentage of people did struggle with the high medical bills. However, the present situation has revealed the extent of medical inflation and exorbitant prices. This awareness motivates them to invest in health and life insurance policies. The former would help them to manage sudden and unexpected medical emergencies. The latter would provide a sizable fund for the family in case of premature death. Most people tend to take various precautions to protect their loved ones even after their time. However, sourcing life insurance might not be a simple task.

The regulations levied by the individual company and the industry could be a confusing task. It is a general misconception that all policies need a medical exam. After all, the companies would assess the level of risk and the probability of claim during the assessment process. Nevertheless, some companies do offer the best no medical exam life insurance policies without a health check. Consumers should be aware of these options so they can choose the best policy.

Here are some of the factors that influence the company’s decision.

Age

This is a crucial factor when buying the best no medical exam life insurance. Consumers tend to be healthier when they are younger. This means that companies would provide policies at lower premiums. The age limit established by significant insurance firms is between 18 to 65 years.

Pre-Existing Conditions

Consumers should be forthcoming about pre-existing diseases. Unfortunately, some customers tend to hide this information because of the lack of a medical exam. However, the coverage would not be possible if there is a death due to that particular illness. In addition, customers have the option of updating their health condition even during the policy period.

Premium

The companies will calculate the premium value based on age, health condition, lifestyle and dependents. So, for example, if the person is in excellent health, then the premium will be less.

Policy Period

This is a crucial factor as the consumers might not avail the benefits after the period. However, all leading firms do offer a grace period. Therefore, it is essential to renew the policy accordingly.

Benefits

Always be aware of the policy benefits and inform them to a trusted person. There is always the possibility that the family is unaware of these details. Therefore, it is imperative to know about the exclusions as well.

Consumers should be cautious about the fine print while choosing the policy. Most insurance policies might look lucrative at first sight. However, the company would levy clauses and conditions that would prevent benefactors from availing the full benefit. It would be prudent to be extra careful with life insurance as the family might not be aware of it unless and until it’s too late.