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What is a No Physical Life Insurance Policy?
No physical life insurance policy is for elderly individuals who have an ailment and most likely won’t qualify for any other form of life insurance which might make it hard to pay for final expenses and funeral costs. No physical life insurance provides you with a way to secure the financial future of your family. It is a huge relief that the premium you pay will not be based on your health status. Even if you aren’t an elderly person with an illness, a no physical life insurance can also be a good option for those who work in high-risk jobs (military, police, and fire department). A no physical life insurance can be easily obtained from many companies in the U.S.
There is also the option of a policy that allows a parent to purchase one for their children at the time of birth and which will last up to the time they are 21. The policy the has the option of enrolling in a whole life insurance plan or purchasing additional coverage under the same plan. Choosing no physical life insurance for a child at birth is thought to be a wise decision by many because they believe if the child were to contract some serious or terminal disease, then they will be protected until they are of legal age.
Purchasing no physical life insurance for the child at time of birth is a wise decision because then he or she can enjoy the benefits of it for life, if that is what is decided upon. To seek life insurance with no physical exam, you don’t need to look far. You can easily find it on the Internet, which has a host of insurers who want your business. Although a bit expensive, a no physical life insurance has plenty of options in the market these days because of economical insurance rates. Even so, it is best to first analyze your needs and then judge the policy that you are being offered. If you choose no physical life insurance, you should understand to what extent the policy actually offers you security as the death benefit in some policies is extremely small. Life insurance is absolutely necessary for people who have dependents and need to think about securing their futures in their own absence.