For those who have pre-existing medical conditions, getting life insurance can prove challenging. One of the major factors often considered by insurance providers in determining the risk status and premiums payable is the health of an individual.
Therefore, insurance providers set certain terms and conditions for people with certain medical issues (such as cancer, diabetes and high blood pressure) and charge them higher premiums- alternatively, they can choose to deny them coverage.
Fortunately, there is an option for people with pre-existing condition or people who are unable or unwilling to undergo a medical exam to be qualified for insurance. No medical exam life insurance plans make a perfect choice. Some of the money saving tips of buying non-medical plans includes:
· Comparing plans
Non-medical plans are generally more expensive because the service provider has to bear more of the risk associated with providing coverage. Fortunately, with several simple tricks your plan does not have to be expensive.
By shopping online you will be able to find a plan that falls within your budget, while saving on money. Most of the non-medical plans can be purchased online. This grants you the ideal opportunity to access free quotes and to compare the quotes in order to get competitive rates.
Comparing quotes has been made simple with the internet and so you do not have to call the insurance company to ask for the prevailing rates. This traditional method was expensive and time consuming. Today, insurance shoppers only need to visit an insurance website, complete the fields to review the rates.
· Improved lifestyle
If you had earlier purchased insurance and your health has improved since then, you stand to benefit from reduced insurance rates. Many of the insurance providers will be willing to review the rates of your no medical exam life insurance downwards when you provide evidence of the fact that your health and/or lifestyle has improved.
Reduced weight and/or giving up health threatening habits like drinking alcohol and smoking can get you better rates.
Knowledge is power. Therefore, having all the relevant information pertaining to a particular insurance plan and the service provider is likely to save you a substantial amount of money.
Information will help you buy enough coverage at competitive rates. In addition, it will help you buy insurance from an “A” rated and financially stable company.
A company that is financially stable will stand the test of time, even during challenging economic times. As a result, you are guaranteed of getting your insurance claims.