Frequently Asked Questions

What is non-medical life insurance?

Non medical life insurance is life insurance that can be purchased without any medical testing and usually carries a waiting period and is always more expensive than an insurance policy that requires medical testing .

Are there any conditions that would make it difficult to get insurance?

Yes there are many health conditions that make it difficult to get insurance. If you have had a history or heart problems, cancer,stroke or diabetes you will probably receive a rating on your policy. In addition there are many other conditions which could cause your insurance to increase in price.

What medical testing will be required to get Insurance?

The medical requirements are based on age and Face amount of the insurance applied for.

The most common requirements are a paramedical (health history with a nurse) , urine test or blood test. Sometimes additional testing is required but is rare.

All testing is scheduled between you and a nurse and is regularly completed in your home.

How long does it take to get approved for Insurance?

You should expect the underwriting of your policy to take anywhere between 30- 90 days. If a Doctors report is ordered for clarification the process can take longer.

What is Term Life Insurance?

Term life insurance is bought for a short period of time, For example 10 or 20 years, when you may want a lot of insurance. Term life is often cheaper in the short term but over time becomes increasingly expensive upon renewals.

What is Term to 100, Universal Life or Whole Life Insurance?

The above terms refer to permanent insurance  where your coverage and premiums will never change. While each company and policy differ slightly  these terms refer to policies that are to be kept for long periods of time and over the long run are substantially cheaper than Term Life.

Can the Insurance company cancel my insurance on me?

No, with most policies once you purchase them they cannot be cancelled without your consent unless fraud is proven or premiums are not paid.

Is there a waiting period on my insurance?

Generally No. All fully underwritten insurance plans are in effect from the day you accept it and provide payment.

Some Non-Medical life insurance may contain a waiting period for health related deaths but would fully cover for an accidental death.

Why did I receive a rating on my insurance?

As stated previously there are many conditions which could cause a rating or extra premium for your life insurance policy. It is important to understand that the insurance company is not singling you out but makes decisions based on their experience with people with similar health history to yourself. This is referred to as a pool.

Why did my term insurance increase so much at renewal?

Term insurance automatically renews and always renews at a higher rate than you are currently paying. This is because you are older and if healthy you can buy a new policy for cheaper than your renewal rate. It is also to avoid the problem of being left with only the less healthy clients. If you have had a health problem since you purchased the policy and are still living you are more likely to keep the policy.

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