Some people try to buy types of life insurance that does not ask any medical questions. What kinds are those?
UPDATED: February 28, 2009
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2. Credit life insurance. If you finance a new car, or have a credit card, the banks, finance companies and card issuers love to sell optional insurance on the outstanding balance. (They earn huge commissions on it.) While that optional credit life insurance is reasonably expensive, dollar for dollar, compared to regular life insurance, as there are no health questions asked this is, for someone ill, a possible option. Perhaps he should buy a new car, finance it, and take the optional life coverage.
3. There are certain plans of "senior insurance" that are advertised on TV and by mail that claim to do no underwriting at all. "You can not be refused." The plans sometimes are called "modified life". But these companies are not that stupid either. What's the catch? There is NO death benefit if the death occurs within 2 years, and the policies are typically issued only for reasonably low face amounts. The companies issuing this also charge a price per dollar of coverage that is very high compared to ordinary life insurance. They also hope that those who are sick and sign up die within the 2 years, and they make their money on the fact that its "convenience" attracts many people who are relatively healthy and don't realize there are lower cost alternatives for healthy people.