Friday, April 8, 2016

The Benefits Of Acquiring Guaranteed Life Insurance

By Cynthia Fisher


Buying life insurance is one of the confusing subjects in personal finance. It makes every discussion of whether to purchase a premium or not daunting task. Basically, people acquire life insurance for several reasons. These may include replacing their income so their family and loved ones do not have to struggle a lot paying large debts such as credit card balances or mortgage until a replacement is found.

One of the best reasons that most people buy such premium is to pay for their expenses. Most of these costs are usually covered by guaranteed life insurance. Most of these funds from such policy can keep your family from paying huge expenses. But sad to say, there are some people particularly the seniors who may not be qualified for this premium due to their health.

But there is also a good news, though. With this policy, even a person who was turned down for this coverage in the past can still be accepted. This premium may allow someone to get a financial protection they need to cover the overall cost of final expenses that they suit. Nowadays, seniors with unfavorable health conditions and even smokers who may not qualify for other coverage can obtain a financial protection but not considered as uninsured.

Typically, a guaranteed insurance can be provided to someone regardless of his or her condition. Furthermore, this kind of coverage may be your last option. It offers you peace of mind, especially for unqualified ones. An applicant will also be guaranteed to qualify for a lifetime premium.

A lot of people may find it easy since there is no medical exam needed. Also, no need for you to get checked and examined for any medical history. With this, the applicants will be approved quickly and for that reason, policies can be provided in just minutes and not in weeks or months.

If you are planning to apply for premiums, there are often basic questions that will be asked. These include your gender, age, smoking status and height as may relate to your weight. Unlike other insurance policies, guaranteed policy has no medical examination required. Thus, there is no urine or blood sample for review.

For that reason, applicants are quickly approved for this kind of coverage. And because there is no medical exams needed and the ease of qualifications, the premium is charged higher than underwritten plans. This is is because of the possible risk that any insurer is taking. Provided this, it is suggested that every applicant should compare the premiums from different companies before making a final decision.

Purchasing a specific policy to cover all your expenses can also be the best present you can give to your family. Therefore, ensuring your loved ones that they do not have to struggle because of financial issues can provide them peace of mind. You only need to compare their prices from other companies.

Keep in mind, it does not matter what your present health is and if you have a medical condition. You cannot be turned down. In fact, there are no health questions and even examinations when you apply. If you die accidentally, your benefits will also increase. As you see, you can obtain a lot of benefits once you buy such premiums.




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