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All of the posts under the "life insurance" tag.

Important Things to Know About a No Medical Life Exam Insurance

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As you plan to apply for a no medical life insurance, you can’t help but ask certain questions about it. Apart from the type of insurance available, you may also wonder how your application will be reviewed for approval when there are no blood works and laboratory exams done.

Well, you don’t need to answer any health questions; that is certain. But you will still go through an interview process. After your questionnaire is filled out, you will be receiving a phone interview with your insurance agent. This person can be your screener or underwriter who reviews the data you have provided. They will also investigate on your records by referring to your Motor Vehicle record, Medical Information Bureau and Pharmacy Database. By doing so, they will know if you maintain a medication, is suffering from an illness or has been involved on a car accident in the past. For this reason, you have to be honest in answering all questions on the questionnaire. In fact, you have to admit if you have been declined in your life insurance application in the past. Besides, they will know about it when they do an MIB check. So better be true in your answers rather than getting denied in your application for providing wrong data on the questionnaire.

Your next concern may be the length of waiting time before you finally get the approval that you want. Well, normally it takes 2-10 business days for the company to review your papers and approve or deny your application. This will vary depending on what type of policy you are applying for or the cost of death benefit you want to buy for the coverage. Your coverage may not be applicable right away after your first payment. Some insurance companies will still let you wait for a certain period of time like 2 years before you are fully covered. Again, this will depend on your personal health profile.

The good news is; even applicants with fatal illnesses like cancer, cardiac disorder or diabetes can apply for a life insurance with no medical exam. This is if you apply for a “Guaranteed Issue” type of insurance. However, this type can be more expensive and because of greater health risk, you can only avail for a smaller death benefit. So, when buying life insurance with no medical exam, make sure that you have all your queries answered. After all, you can only get the most of your life insurance if you know the extent of its coverage.

 

admin October 21, 2015 Leave A Comment Permalink

Life Insurance for Pilots

Life is full of surprises. To make yourself secure, you need to make a better plan for your future. Danger in

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life can come at any time at your doorstep, not necessarily when you are alone at home, work, on your way but also when you are among your loved ones. But all these can be dealt with if you are covered by your life insurance. It is a challenge for everyone to do with his life so that if any accident happens, at least one doesn’t have to worry in terms of money and can be treated in the best possible way.

Private pilot is a person who generally has his own aircraft or take it on rent so that he can fly it sometime for pleasure, personal use or for business purposes. Generally, a private pilot is a person who fly planes for private trips or they are professionals who fly to have fun. Their flying do not involve risk as they fly in a good weather condition with a well maintained aircraft. They also do not do lots of experiments and only fly at those locations which are familiar to them. So while insuring the private pilot there is not so risk involved, but still the standard insurance company rejects their application for the same.

There are several other companies who deal with aviation and provide very good life insurance for private pilots. They have agents which keep a close eye on the life of pilots, understanding the risk involved in their life. But in cases where pilots do their insurance from non-aviation related company their flying will not be covered in that and if they include that in insurance then they have to pay high premium value for that. Though there is minimum risk in the lives of these pilots, still they are forced to pay more. When these pilots fly, they have no exposure to the passenger and this makes it the safest kind of ride. As these pilots fly the aircraft just for pleasure, so they go out for a ride in good weather condition and when there is good visibility.

But for having proper insurance with no market risk covered, some points should be checked and should be taken care of while going for insurance. The underwriter should have experience of aviation and should have knowledge about aviation guidelines so that you get the insurance easily and then with your well maintained aircraft you can enjoy your hobby safely.

admin August 29, 2015 Leave A Comment Permalink

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