The answer to that question is often no. Term life insurance is not usually,
if ever, something you can just pick up the phone and order - and if it is, be
skeptical! Most reputable term life insurance companies require potential policy
holders to undergo a medical exam as part of the application process; however,
this is not something to worry about.
Depending on your physical condition, your location, and the term life insurance
company you are making your application to, you may be able to receive the
medical exam in the comfort of your own home. The medical exam required of term
life insurance applicants is usually not a long process - all in all, expect the
exam to last anywhere from 15 to 30 minutes. More good news is that your term
life insurance medical exam is usually free.
When you head out for your term life insurance medical exam, you can expect
several things - all of which are normal of any general medical exam. The doctor
will weigh you and measure your height, take your blood pressure, and will most
likely take samples of both your blood and your urine. You will be asked
questions about your medical history so you may want to take certain information
with you for easier reference. Be prepared to discuss any past or current
medical conditions you have, any surgeries you have had, medications and/or
medical treatments you are currently taking or have taken in the past, and
possibly your family’s medical history. You may also be required to provide
contact information of previous and/or current health care professionals by whom
you have been treated.
You may be a bit hesitant to provide such personal information to a doctor that
you may not even know; however, rest assured that all information is
confidential and used only for your term life insurance application. The doctor
will send the information directly to the insurance company.
Visit our website if you’re looking to
buy your term life
insurance policy online, get a home insurance quote, or find the best
car insurance rate.
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Global warming may have been lurking on our horizon for a number of years and historical records of terrorists have existed for thousands of years, but we are coming into a new age where we try and financially protect ourselves against such problems and if we’re honest … we’re struggling.
The recent terrorism attacks in London brought home the fragility of human life to many Brits, who had previously been able to distance themselves from terrorist activity. For the partners and offspring of city workers, the fragility of their finances also became apparent with the potential loss of a loved one alongside the loss of future income and possibly the family home.
It is widely agreed that most life insurance policies should cover acts of terrorism, though most websites (including the Association of British Insurers) do state that you should always, always read the small print, as there may be insurer-specific exemption clauses. It will be interesting to see what effect terrorism has on life insurance applications and whether there’s a rise in consumer interest as a result of terrorist attacks.
Certainly the indication so far is that life insurance applications will be treated quickly and sympathetically in the event of a terrorist attack, reiterated by the Association of British Insurers (ABI) and Ginger Applegarth of MSN Money who stated that for insurers “to back out of paying a claim now would be considered unpatriotic and a marketing disaster.” In Applegarth’s column, she includes an “insurance checklist” of the very basics that you have to do when making a life insurance claim. She also states that insurers paid out almost $3 billion after the September 11 attacks in 2001.
It isn’t just your life insurance that can encompass a terrorism related clause. Travel insurance and property insurance can also contain terrorism related options. The website abi.org.uk states clearly that “household, buildings and contents policies include damage by fire, explosion or impact, whether caused accidentally, through the malicious act of an individual criminal or in an act of terrorism.” The costs and extent of cover will vary, so shop around and read the terms and conditions very carefully.
Contamination cover is singled out by ABI as a contentious issue and apparently has been a standard exclusion on household policies since the 1960s, due the potential scale of claims, as many homes could be affected by a single incident.
Cover against terrorism is also available for businesses, typically as an extension to property cover. Commercial property terrorism cover is typically allocated on an “All Risk” capacity, encompassing biological, chemical, radiological and nuclear contamination, as well as interruption to the business. Commercial property cover does not include electronic or internet related risks or hoaxes.
Other life insurance exemptions may include lifelong illnesses such as diabetes and epilepsy. Lifestyle habits such as smoking may or may not invalidate a life insurance application, but they will make it more expensive. Always get your medical records assembled before you apply for life insurance, as this will save time and possibly money as well. Once this information is assembled, you can begin assembling some personal quotes through life insurance comparison sites such moneynet ( Life insurance comparison research ) or UpMyStreet ( http://www.upmystreet.com/UK/home-insurance/l/ ).
About Rachel:
Rachel is a straight talking little lady who lives in the Scottish hills.
Rachel also writes for the personal finance blog Cashzilla: a wee bit of banter on finance related issues.
Web: http://www.cashzilla.co.uk
E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251