As hard as it may be for some people to believe, you can get a life insurance policy without any type of medical screening. This includes no physical or even any medical questions that need to be answered. Many people will think that there is a catch or perhaps this type of policy has incredibly high premiums. The fact is that many of these policies are low cost, and once your take out the policy, there is seldom an increase in your premiums. There is some variance to these policies that is dependent upon which state you are living in as insurance companies can be regulated differently from state to state. However, for the most part, this type of insurance policy is low cost.
This type of insurance policy has common attributes across several insurance companies that offer it. One is that the policy can never be cancelled. Of course this assumes that you are making the premium payments, but if your health should take a turn for the worse, you will still have the policy. As you age, there is no increase in premiums. Your rate is locked in until you decide you no longer want the policy or you die. Having your premium rates lock in while not worrying about a cancellation as you get older is a great advantage to your personal finances. It is also a great comfort as well.
If you decide to look into this type of life insurance policy further, please take the time to get several quotes. It has become a popular life insurance policy for those over 50 years old, and there are many companies that are competing for your business. If you do not have any insurance on your life right now and have few assets to leave your loved ones, you will want to give this type of insurance serious consideration. A small policy valued at $5,000 to $10,000 will be plenty to pay for the basic cost of funeral expenses. By having a policy such as this, you will not be a financial burden to surviving family members.