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Get A Life Insurance Even Without Medical Exam

There’s actually a big difference between term life insurance and whole life insurance wherein the former, it is a kind of policy that doesn’t require any medical exams and has a guaranteed acceptance while in the latter, it needs the person to answer some medical questions before securing an eligibility. Despite the fact that there might not be no paramedic or even physical examination needed to secure a term life policy, still there’ll be underwriting process that has to take place after applying coverage for most carriers.

Although numerous people assume that these polices aren’t requiring paramedic examinations are bought as in the same manner that you just buy an off-shelf product form retail stores, it is important to have a thorough understanding that insurance companies will run a series of double checks referred to as underwriting process before they issue a policy.

Say for example that you are planning to get term life insurance, following are some cases that will be reviewed:

Number 1. Driving record verification – with most of the insurance companies, the process of application will include a consent to review the driving record activity of the interested client. There will be requirements to be met in order to acquire eligibility depending on the selected company. Well more often than not, these are going to be no DUI cases within the past 7 years, no other major violations committed for the past 5 years, no driver’s license suspension in the last 5 years and no more than 2 standard moving violations.

Number 2. Prescription history check – when you are applying for a life insurance policy, the insurance carriers are going to review the applicant’s prescription history to be sure that there aren’t prescriptions that had been prescribed which are often reserved to those who have medical conditions that’ll make the applicant ineligible for coverage.

Number 3. M.I.B check – truth is, M.I.B stands for Medical Information Bureau that will review the history of the applicant. Actually, they check for any recently applied coverage or outstanding coverage. Even though some customers may see this review as being counterproductive and intrusive, it is essential that the life insurance provider perform their part in protecting the rates of those who’ve qualified for coverage and ensured that only the appropriate clients can get coverage from their policies.

These are only some of the basic steps that life insurance companies are going to perform on their applicants on the other hand, you may want to expect more tests to be carried out as well if you wish to get the best life insurance.

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