If you happen to be a senior in America, the topic of insurance is not so popular, ranking right up there with taxes. There seem to be so many hoops and hurdles to tackle, that many older Americans just decide to not bother. But what if you told your older clients that they do not need to get a medical exam to get life insurance quotes, or even get some kinds of insurance policies?
Yes, it is true. There are some forms of life insurance policies where they do not need to show medical exam results — for instance, whole-life insurance. Anyone may buy that type of policy, regardless of health, age or gender. The difficulty is that so many people have the idea that every insurance policy means going for a medical, which is not the case.
There are other forms of insurance anyone may purchase, including graded-benefit insurance, simplified-issue life insurance and guaranteed-issue insurance. As with anything pertaining to insurance, it is always best to deal directly with an experienced agent, and that would be you as you make contact with them. You can outline each policy in simplified terms, less the industry jargon. Your potential clients will know soon enough if a policy is for them or not, just based on the explanation.
Guaranteed issue insurance does not require that anyone answer health related questions or get a medical exam. No one is even asked any medical questions. It is extremely rare that anyone applying is turned away.
Simplified issue life insurance does not mean a doctor’s office visit either. However, your clients need to be aware that insurers do ask them to provide some medical information when filling out an application form.
If they are applying for graded-benefit insurance, there are also no medical questions asked and no physical exam required. This particular type of policy is popular with middle-aged Americans and seniors. Some find the complex policy payments a bit confusing — you can explain, in detail, how it works. Good customer service will garner you a loyal client.
One other thing to take into consideration is that policies that do not require going to a doctor for a medical are more expensive. This is because the insurance company is taking a risk insuring a person when they do not know their medical history. While age is often a way to determine what health issues someone faces, it is not always an accurate assessment and not all older individuals may have the same health issues.