Although many of us try to purchase life insurance, and even more really need life insurance, not everyone can buy coverage.
Why? Because life insurers are out to make money. So, they want to insure people who have the chance of living a long life, and paying premiums for a number of years.
How do life insurers decide who to insure? They consider several factors they use in underwriting the risk of someone dying within a certain time period.
Some of these underwriting factors for life insurance include:
Your age, gender, health, family health history, height-to-weight ratio, occupation, hobbies, medication you take, whether you smoke or not, etc.
How do life insurers determine your risk for life insurance? They require a medical exam, blood and urine tests, and have you answer several medical questions on your application. This information is used to determine if you are a good risk to insure for life insurance.
What if you don't want to take a medical exam to qualify? There are term life insurance no exam plans that offer up to $500,000 of coverage without any physical exam required.
What if you are denied coverage for life insurance? If other insurers deny offering you life insurance, there are plans which may offer you guaranteed acceptance life insurance.
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