How To Get Term Life With No Medical Exam
You might be surprised to know that even without a medical examination you can get term insurance. Many people use the term insurance as a means of investment to create wealth. But they dread the medical examination. The reason is that the result of the medical could lead to an increase in the premium payable and hence, people look for term insurance plans that don’t require a medical check-up.
Term insurance is a must-have for everyone. Any financial expert would recommend having at least one term insurance policy in your portfolio. First, we’ll tell you the features of term insurance, followed by how you can get a term life insurance policy, without any medical examination:
Life insurance:
The pandemic has shown us that life is extremely unpredictable and that’s why, it’s crucial to invest in life insurance and safeguard the future of your loved ones. Life insurance gives you a financial safety net which will protect your family, in case of an unfortunate incident. The sum assured will help your family manage in your absence and this is important, especially for those households, that have a single breadwinner.
Tax benefits:
The premium paid towards a life insurance policy or term insurance can be claimed under Section 80 of the Income tax Act. This can help you reduce your tax liability and ensure you get maximum returns in the long run. If you are planning your investments to get maximum tax benefits, term insurance should be your pick.
Wealth creation:
One of the main aims of investment is to create wealth for the golden years. Term plans have guaranteed income benefits which is great for those who have a lower risk appetite. If wealth creation is the goal, you must choose term insurance plans.
Support lifestyle:
In case of an unfortunate event, the income of the family stops, and the family will suffer greatly. To ensure they don’t compromise on their lifestyle, you should invest in term insurance plans. Depending on the lifestyle of the family, you should decide what the required sum is assured.
Term insurance plans are for everyone. From married people, to parents, to young individuals, everyone should consider buying term insurance. The sooner you buy, the lesser your chances of undergoing a medical examination. Another factor that decides whether one should undergo a medical examination or not is the sum assured. If you choose a very large sum assured, the company will ensure you are healthy and don’t have any pre-existing ailments.
If you are looking for term insurance plans or life insurance policies, feel free to reach out to the experts. When it comes to life insurance policies, Bharti AXA Life Insurance is the best company. They have some of the most comprehensive and value-worthy term insurance plans. No matter what your financial goal is, they will have a plan for you. To know more about term insurance plans by Bharti AXA Life Insurance, reach out to an expert now.
These are the top four things you need to keep in mind while buying savings plans for your retirement.
With the right retirement plan, you can save money now through tax planning and also earn income during your golden years. Pension investment plans become important for those who are salaried and need a monthly payout for financial stability. If you have specific retirement plans, then savings plan become even more crucial. You can invest in one or more investment plans to hedge risk and maximize your returns.
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