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No Medical Exam life insurance seems to be a strange term for anyone. While some tend to think Life Insurance with no medical exam is some kind of a marketing trick, others give it a thought when they are in two minds about getting insurance. Having no life insurance policy is no excuse for any adult. It would sound ridiculous for those who do, but there are people who have ‘no time’ for taking out a policy. Starting out, you do not seem to afford it, after marriage there seem to be a lot of expenses that taking out a policy would encumber your already tight budgets, after you have kids, the thought passes your mind again but you seem to think there is always more time for you to go get one and before you know it, you’re about to retire in a few years with no life insurance to take care of your family in the unfortunate case of your death. Whatever your reasons might be, you need to be aware of your options.

Life insurance with no medical exam is a realistic option if indeed you feel weighed down by your schedules to fix up an appointment with the medical examiner. Plus of course, the added timing factor is not appealing for many or there could be many reasons why you prefer to have no medical but still get coverage. Largely there are three kinds of insurances. First, there are the conventional underwritten policies with several questions about you, your family and medical history along with a compulsory medical test. There are also simplified issue life insurances that do not require a medical test but some questions need to be answered about the family medical history and personal medical history. And then there is the no medical exam life insurance policy where you do not need to answer any questions nor do you have to take a test. It’s just an application away and it is made available to you within days! And the best part is you can even apply online without once showing your face to your insurers.

Convenience is a major plus in a no medical exam life insurance. You might have to answer a few questions related to your age, gender, height and weight but that is hardly a comparison to the lengthy questionnaires you might have to fill elsewhere.  There is no flip side to no medical exam life insurance except may be the fact that it is a bit pricey. And you will not be able acquire more than maximum $500,000 coverage. Also, in most of the cases, a policy can be obtained regardless of the age. That is why they are often times referred to as guaranteed issue life insurance policies as well.

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Life Insurance Quotes | Term Life Rates : BeamaLife.com

Term life insurance does not have all the benefits of a whole life insurance policy. But on the positive side, term life insurance requires you to pay a lot less in premiums. A term life policy runs for a certain length of time during which benefits will be paid out in the case of your death and after the completion of the term, you will have no insurance coverage for life. Many financial experts back up the concept of term life insurance as a very good option when the difference in the premiums between term life and whole life are measured. If the difference is invested elsewhere, you could have a much better return by the end of the term, they say.

But investment opportunities are not why most people choose term life policies. Cheap term life insurance is sought by those families that are just starting out or people who might have outstanding debts in the event of their death. Cheap term life insurance is available for almost any budget. The first factor that determines the cost of term life premiums is the type of policy taken out. Term life policies generally come in five types. The cheaper term life policies are the decreasing term insurance and level premium term insurance. Decreasing term insurance policy has low fixed premiums while the benefit amount your survivors receive in the event of your death decreases every year. Every year, there is less mortgage to pay and every year, the kids grow towards self-caring. Though, this is not a pleasing option for everyone, people choose it because it offers the lowest premiums. There is always the chance that you grow richer by the year, so there is no reason why your kids or spouse should depend on your insurance when there are savings and other funds that would be available to them. Another type of cheap term insurance is the annual renewable term insurance policy through where you renew your term policy every year depending on your need, till you reach the age of 65.

While they do not fall into the category of ‘cheap’ per se, the renewable term insurance and convertible term insurance are also affordable with the best interest of your survivors in mind. Renewable term insurance gives you the option to extend your term when the original term finishes. This is most important in the untoward case that you develop a health condition during the term that would render you ineligible for insurance.  Convertible term insurance gives you the option of converting into whole life or any other kind of policy you wish to choose.

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Life Insurance Quotes | Whole life Quote : BeamaLife.com

You know you have a hard choice to make in front of you when you are deciding whether to save for your child’s college education or your own retirement. Only the best for my children—isn’t it the motto of every parent, after all? Especially, the parents who had a hard time funding their own education would never imagine putting their kids through such turmoil. But, let’s face it, there are loans, scholarships and financial aids that can get your child through college, but name one bank that would give out a loan for retirement! In a more generic sense, parents are supposed to have seen their kids through college before they start saving up for retirement. But, very few people start families early enough to meet that goal. In addition to this, college education costs are only rocketing every year. It is estimated by the College Board that an average private education would cost like $287,000 for four years and the same in a public entity would cost up to $133,000 by the year 2020. If you are one of those who are saving up for your kid’s college, didn’t that jolt you out of your senses? Increasing educational costs are rendering several couples without any retirement money or with mortgage payments to be made, forcing them to work throughout their life! There is an urgent need to solve the dilemma and working out both retirement and college into your balance sheet.

There are options, of course. Postponing retirement is first and obvious one. The next one would be to accept some lifestyle changes reducing the general cost of living. If it is a hard for you to do that now, you can always choose to do so after retirement. You wouldn’t need such a big house after your kids move out, would you? And what is the point of living in the hustle-bustle of the city when you are no longer working? You can work part-time during retirement—you can keep yourself from getting bored while earning a little to keep the general expenses flowing. You will have to increase your earnings. While killing someone to get that promotion is not necessary, you can always ask your spouse to return to work. We all invest in one bond or the other and while we’re at it, why not make our investments a bit more aggressive to get a higher return? Just a little bit, mind you.

You must accept the fact that even after doing all this, you might not be able to retire comfortably. It is not bad to put a little of the responsibility on your children’s shoulders. They are young and vulnerable now, but they’ll grow up. Besides funding all or a part of his education is bound to improve your child’s performance. Instead of mortgaging your own house, you can always help out in education loan payments! Be generous to your kids. But remember the fact that one day they will have to take care of themselves no matter how much you try to help them out.

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Life Insurance | Long Term Care Insurance : BeamaLife.com

Vegetarians are rare, vegetarians have fewer options in food, vegetarians are healthy, vegetarians get cheaper insurance. You heard that right. Insurance companies are now coming to terms with the fact that vegetarians have more life expectancy and are less prone to chronic diseases, heart problems and are also more resistant to cancer.

Life insurance premiums are calculated based on several factors. Basically, they use mortality tables to deduce the premium as well as tax free death benefit. The factors are mainly your family medical history and some lifestyle habits. Most companies consider your driving records, addiction levels to smoking and alcohol, the place of living, etc. Even the traffic levels and crime rate of the place you live and work are considered sometimes. But it is quite recently that eating habits are added to the long list and rightly so. Overeating and obesity shows in your medical records, but the fact that you could be a vegetarian doesn’t.

You might be wondering, what’s the big deal about being a vegetarian anyway? It is a huge deal because the life expectancy of vegetarians is much higher than meat eaters. And the reason is quite simple. Vegetarian food doesn’t have some of the harmful ingredients and fatty acids that meat does. The digestion of vegetarian food is also quite simple and doesn’t need our body to produce harmful acids to break the compounds. Scientists claim that the risk of a vegetarian contracting cancer is 40% lesser than the non-vegetarians. Also, the risk of heart disease is reduced by 30% on an average for any vegetarian. Healthy diet choices play an important role in the body’s overall health and should not be ignored by insurance companies.

All companies do not consider this variable in calculating premiums, however. The reason is that, the medical tests a person needs to undergo while procuring insurance doesn’t show whether he/she is a vegetarian or not. Smokers can be identified through the GP levels in the body and a comprehensive result can be obtained about alcohol consumption. Also, since insurance covers a long time in a person’s life, there is no way to determine his food choices throughout the period. But, some argue that unlike other addictions, a person once a vegetarian will remain a vegetarian. There are some animal loving corporations that introduced policies with up to 6% discounts for vegetarians! So…eat your veggies and save not just on food, but on insurance too!

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Life Insurance Quotes | Universal life insurance : BeamaLife.com