How To Get Term Life Insurance Without A Physical

Want to hear something pretty amazing? You can apply for six figures of affordable term life insurance coverage online, get approved, and not even have to have a physical. And, listen to this, some companies that offer offer cheap life insurance without a physical will issue you a policy for as little as ten dollars per month. And that could be for three hundred thousand dollars in coverage.

You can even get term life insurance (which is also called cheap life insurance) even if you're a bit past the springtime of your life. Although term life insurance has been the province of young people it recently has been made available to older people as well.

The good news is that online life insurance companies now offer term life insurance to people between eighteen and sixty years of age. The bad news is that the older you are the less coverage they'll offer you.

This trend started a few years ago when a US company first offered $150,000 worth of life insurance on the Internet. People jumped on it like white on rice. In no time at all, actuaries from competing companies started crunching numbers. They all asked themselves, "How much coverage can we offer at a really low price and still make a nice profit?" It soon turned into a race.

It turns out that if your health is good there's very little risk involved in offering you term life insurance. As a matter of fact, it's an extremely profitable business plan. And because your health is good, the insurance companies feel they can make even bigger profits if they don't have to pay a medical practitioner and make you go to a doctor, nurse, or paramedic for an examination.

Uh-oh, I hear some wheels turning. If your health is less than perfect, are you thinking you can get coverage that you'd not be able to get the more traditional way? You rascal! You're planning to forget to mention some medical problems that you had on your application, aren't you?

Forget about it. Won't work. You have to mention them because if you don't your policy can end up being worthless.

Read the fine print on these policies and you'll see that there's an incontestability clause in your contract. This says that if you didn't disclose pertinent information on your application that would normally cause them to reject your application the insurance carrier can withdraw your policy within a specific time frame. Although the amount of time varies, depending on the company, it's usually in the neighborhood of a year or two.

Having said that, when you are approved you can usually buy coverage for anywhere from 1 year to 35 years. So If you're looking for additional insurance, why not look at what term life insurance without a physical can offer you. I bet you'll be pleasantly surprised with what you find.