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When Should You Consider a Non-Medical Life Insurance Policy?
A Non-Medical life insurance policy, is a policy that does not require a medical examination as part of the underwriting process. They are typically issued very quickly, in some cased within 48 hours of the application. You will find these guidelines used with Term and Whole Life policies. The maximum policy values for Non-Medical underwritten policies range from $500,000 for Term, to $50,000 maximum issue for Whole Life.
Who should consider a Non-Medical life insurance policy:
- Individuals 40 and older
- Someone with a family history of heart attack, heart disease, or cancer
- Someone who does not want to have a Paramedical exam
- Had a physical within the last 24 months
- Individuals who may have minor medical conditions
- Individuals looking for a Final Expense or Burial
These policies can cost slightly more than a medically underwritten policy, especially for someone who is very healthy, with a family history of very good health. The key deciding factor should be can you get a discount (Preferred) rates based on your health, and that of your parents and siblings.
Our licensed professionals will give you guidiance in determining when a non-medical insurance policy is appropriate. Contact us for more information.
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Do I need Life Insurance?
The purpose of life insurance is to ensure the financial security of your family in the event of your premature death. We all hope to live a long and productive life, however that does not allows happen. An untimely death is a tramatic situation for your loved ones. It can alter the lives of your spouse and children if you are not properly protected.
What should I Protect?
As you are determining your life insurance needs, you should consider income replacement, your mortgage(s), debt, children's education, estate taxes, and final expenses. Help your family retain the standard of living that they had while you were alive.
When should I get Life Insurance?
The earlier that you purchase life insurance the less the investment you will have to pay for this coverage. The younger you are the less you will spend on an insurance policy. The cost increases with age .
How can JMF Insurance Agency assist?
We can assist you is determining your overall needs, and structuring an insurance plan that will protect you and your family. We can assist the young and healthy to the more mature adult with health challenges obtain life insurance. We have over fifteen life insurance carriers to shop our clients with to find the life insurance product that will meet their needs. We offer:
- Term policies
- Universal Life policies
- Whole Life policies
Contact us, we are available to assist you.
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Life Insurance
