Should You Buy No Medical Exam Term Life Insurance?

Buy Life Insurance with No Physical?

The thought of getting a cheap term life insurance policy without having to submit to a life insurance physical is attractive to some folks. These days, a lot of people would rather protect their privacy. Others are attracted to the thought of getting covered without jumping through a lot of hoops. Finally, some people hope to cover up a medical condition, but that is the WRONG reason to apply for no medical exam term life insurance.

For one thing, insurers that offer policies without requiring an exam will check several sources to verify answers on a health application. These may include the Medical Information Bureau, credit bureaus, state DPS offices, etc. Many of these companies will request a doctor's statement if something on the application does not match up with answers on the application. Also, lying on a life insurance application is illegal and a bad idea.

Who Should Consider Term Life with No Medical Exam? 

People who are average might find that the convenience of getting a quick application done online or over the phone is worth it. These companies do tend to charge a bit more for skipping the physical, so very healthy people might find that rates are cheaper if they just take the quick physical. A few dollars can add up over the years that an average person might pay premiums.  People who have some type of pre-existing medical condition might find that they have a better chance to get a policy issued if they can make their case to an underwriter.

Places Where Average Auto Insurance Premiums Are Cheaper

Where can you find cheaper auto insurance premiums? 

There is not one cheaper car insurance company in the United States, but there are states where average auto insurance rates are cheaper. Each individual vehicle owner's premiums depend upon dozens of unique factors. However, ,if you live in one of these economical states, you are likely to get the benefit of lower prices because average claims are lower. This might be because the roads are fairly sparsely populated, few natural disasters plague vehicles, crimes rates are moderate, or competition for business between insurers gets intense.

Which States Offer Cheaper Auto Insurance Rates? 

Maine came in 50, and in this case a low ranking is a good thing. Louisiana came in #1 with the highest average premiums. Both of these states have rates that are either much cheaper or more expensive than the United States natural average.

• Maine average car insurance premiums for 2013: $934
• Louisiana average car insurance premiums for 2013: $2,699
• United States average car insurance premiums for 2013: $1,510

If you are interested in viewing more states, you can find high and low car insurance prices by states here.  Lots of vehicle owners would love to lower their premiums, but most are not going to go so far as to move to a different state. For example, most Louisiana residents are not going to move to Maine just to get cheaper car insurance prices!

Are uninsured drivers keeping you from getting cheaper car insurance?

If your state has a lot of drivers who violate financial responsibility laws, you might be suffering because your premiums have to compensate for drivers who do not pay. On the other hand, some states have very low limits on required minimum coverage, and this might make premiums lower, but it might also mean that the majority of drivers do not really have adequate coverage if they do have an accident. In this case, it might be prudent to consider raising your limits or even purchasing umbrella liability insurance.

In any case, driving without insurance will not save you money!