| Although there are insurance companies out there | | | | covered in the event of a natural death such as |
| that will issue a no exam whole life insurance | | | | heart attack, stroke, ect. you would be 100% |
| policy, there are exclusions written into most of | | | | covered in the event of an accident such as a car |
| these policies that you, the consumer, need to be | | | | wreck, fall, ect. I'm certain that, as with most |
| aware of. | | | | insurance policies, that there would be exclusions |
| I'm certain that you've seen the television | | | | in your policy for recreational activities such as |
| commercials that guarantee whole life insurance | | | | sky diving, scuba diving, race car driving, ect. |
| coverage for individuals from fifty to eighty years | | | | #3. This type of insurance is normally quite |
| old, guaranteed, no physical exam whole life | | | | expensive. No physical exam whole life insurance |
| insurance, also known as no test life insurance | | | | coverage doesn't mean that it's going to be |
| policies. It seems as if they show them ten times | | | | cheap, especially for most men. |
| during an evening of watching tv. | | | | Most insurance like this is sold in "blocks" of |
| Anyway, here are some of the things that you | | | | smaller amounts. Example, you may be able to |
| should be aware of before you buy one of these | | | | purchase "blocks" of $3,000.00 each. The average |
| policies. | | | | block will cost in the range of $20.00-$30.00 per |
| Many of these policies are known as "Modified | | | | month depending on your gender, male or female. |
| Whole Life Insurance". They are modified so that | | | | Men will pay more. |
| you must meet a specific set of terms in order | | | | Now this really isn't that unreasonable, however |
| to qualify for a full payment being issued at the | | | | the average funeral expenses will cost between |
| time of your death. Some of the modifications to | | | | $6,000-$10,000.00 these days. This means that |
| these policies are as follows: | | | | realistically you'd need to purchase at least three |
| #1. Your loved ones will be paid a reduced benefit, | | | | blocks ($9,000.00) in order to make certain that |
| or nothing at all, in the event that you pass away | | | | you were covered and didn't leave your family |
| within the first two years of the policy being | | | | with unexpected expenses. This can become |
| issued. Some of these "modified" whole life | | | | extremely expensive if there are two people to |
| insurance policies don't require an exam because | | | | be covered such as a husband and spouse. This is |
| they either pay a reduced benefit or nothing at all | | | | not affordable for many people that are retired |
| if you happen to die of natural causes within a | | | | or are approaching retirement. |
| specified time frame. | | | | The bottom line is this. Always get a second |
| #2. Most of these policies will cover you in full for | | | | opinion on life insurance coverage before you buy, |
| accidental death from the day that the policy is | | | | especially if it sounds too good to be true such as |
| issued. This means that although you won't be | | | | a no physical exam whole life insurance policy. |