No Exam Whole Life Insurance

The Difference In Rates For No Exam Whole Life Insurance and the Ones That Require Exams

Which is Better?

You might be wondering whether it is better to use a whole life insurance policy that requires health exams or one that does not require health exams. Of course, there is no real “yes” or “no” or “black” or “white” answer to this question. The truth is that it depends on the insurance company and policy that you plan on using, as every company treats everything differently, for the most part.

How “No Exams” Are Usually Treated?

Once again, every insurance company treats everything differently. Generally, the amount of money that you will be paying for a whole life insurance policy which does not require you to take a health exam will be higher. Why is this? Because majority of insurance companies will see you as a liability if you have a number of different health conditions. While they try to be fair and non discriminatory by not forcing you take a health exam, they will be viewing you and everyone else who gets a whole life insurance policy with them as a liability. By making everybody pay a higher price than they would have to if they took a health exam and came out healthy, they will be making the extra “liability” money that they want to take. Of course, this is not always the case with some companies.

How “Exams” Are Usually Treated?

If you decide to use an insurance company that will offer you a whole life insurance plan with the agreement that you need to take their health exam, you will be facing a number of different situations that you may need to deal with. For example, some insurance companies will charge you a higher price if they consider you to be a liability to them, assuming that you do not pass their health exam to the fullest extent. If they see you as a complete liability, some insurance companies will not even take you on. If you pass the health exam as somewhat or very healthy, you could end up paying much lower premiums than those who fail the health exam. Insurance companies who require you to take a health exam are generally not recommended when it comes to your life insurance policy.

What Other Guidelines Are There?

Some insurance companies tend to have “extra” guidelines that they want you to follow in order for you to be eligible with a life insurance account with them. Some of these guidelines include that you will not be allowed to smoke cigarettes, do drugs or drink excessively. If they catch you doing any of these things, you could end up getting dropped from your policy. It is important to first find out what guidelines there are before agreeing to a policy with one of these insurance companies.