One of the biggest problems with no exam life insurance is the price. The price point for no exam coverage tends to be much higher than other options.
Here’s the thing though, there are some ways you can get cheaper life insurance without the exam. Just because you’re going to buy no exam life insurance doesn’t mean you have to empty your piggy bank every month.
Let’s look at some of the ways you can chop down your rates and save your bank account.
Cut the Smokes
Even without the medical exam, the insurance company will want to know all about your health. One of those factors is your tobacco usage. If you don’t know, smokers are high-risk applicants. High-risk equals high premiums.
Depending on the company you pick, you could end up paying more than three times as much. Not only are you paying for those cigarettes at the cash register, but you’re paying for them on your insurance rates as well.
Some companies offer cheaper rates for smokers than others, but they are still going to be much higher than the non-smoker’s category. Save money, toss the cigarettes out the window.
If you want to get the non-smoker’s bracket, then you need to be smoke-free for at least one year. Cut out the chewing tobacco, the cigars, and the cigarettes. It can easily save you thousands of dollars every year.
Just like with smokers, every company has different rates and coverage premiums. You need to find the golden company with the cheapest no exam rates. It’s as simple as that.
With no exam companies, the rates you see are going to be all across the board. Each person is different, but some companies tend to offer the cheapest plans.
Your best bet is to find a company who only sells no exam plans. Those companies have more experience with life insurance without the exam.
The difference between two companies could end up being hundreds of dollars every year. Just by simply taking the time to get several quotes, you could end up with thousands of dollars.
Get in Shape and Go to the Doctor
Just because they don’t require a medical exam doesn’t mean they aren’t going to be concerned with your health. The insurance companies need to know what kind of shape you’re in to know how much to charge you for their plan.
Even without the medical exam portion, there are still several ways they are going to get a picture of your overall health condition. They are going to look at your recent doctor’s notes and your prescription records.
Your health will still play a part, which means if you haven’t been to the doctor in several years, it’s time to make an appointment. The insurance company wants to see you’re in good health and committed to keeping it that way. You don’t have to take the exam, but you should show them your health in other ways.
On a similar note, improving your health may allow you to rid yourself of some of your prescriptions. Fewer pills can mean better health and better rates.
Affordable No Exam Life Insurance
Not have any life insurance is like walking a tightrope with no safety net, you’re just asking for problems. If the premiums are keeping you from buying a no exam policy, then don’t wait any longer. Life insurance can be cheaper than you might assume.
There are several ways you can keep the cheapest premiums out there. Life insurance shouldn’t stretch your budget.
If that tragic event were to ever happen to you, and you hadn’t done the planning by buying a life insurance policy, your family would experience the worst financial stress possible.
Sure, it’s not fun to think about dying, but not thinking about it is one of the most selfish things you could do.