You can think about getting a term life insurance policy if you are in search of insurance. You will have to choose between a non-medical and a medical term policy. A medical examination will be required for a plan that is medically underwritten. The presence of antibodies that indicate hepatitis, antigens indicating HIV, antigens specific to prostate cancer, lipids related to cholesterol, disorders of the immune system, liver or kidney disorders, or diabetes are tested for during a typical examination involving blood samples. Lifestyle is determined through tests on urine samples for presence of narcotics or other drugs.
The important aspects of a term life insurance policy include:
Insurance with temporary coverage is what a term policy is generally referred as. The policy is meant to cover a prearranged period that may range from a year to 30 years. After the lapse of the fixed period, the policy expires. Throughout the term of the policy, the payable plans are steady and that accounts for the popularity of this kind of a policy. Premiums are not raised and coverage is not altered during the validity of the policy even if the medical condition of the policy holder declines and this, in itself, provides a big advantage.
As against other insurance plans, the premiums that have to be paid under a term life policy are much lower. You should get a number of quotes from the leaders among insurance service providers as you look to buy insurance. In order to get the best deal available, you can thus compare the rates provided for term life insurance by different companies. As against permanent plans, buying a term life policy is less expensive as you are less likely to die during the plan period. If you get a good night’s rest before getting yourself examined, you are likely to fare better in your medical examination and get lower rates and more coverage. Additionally, you should not consume alcohol for at least 8 hours prior to the examination. At least an hour earlier than the examination, you should stop consuming caffeine, including tea, coffee and chocolate. You can improve your results even further by staying away from high cholesterol foods, high salt intake and strenuous activities at least a day earlier than the test.
Whether or not coverage can be provided to you is decided by an insurance underwriter on the basis of the results of your medical examination and the data you provide through your application form. The likelihood of your application to be qualified is greater if you go in for a non-medical term policy. The status of the health of the applicant is not considered while offering coverage under a non-medical plan. If the applicant agrees to pay a higher premium, the insurance provider is typically prepared to bear the risk.