There is a rather conclusive reason why most life insurance policies have a waiting period as well as a medical exam. Life insurance is a business (for better or worse) and there is a period of medical review needed to assess if a company wants to take on a client. They may be sickly at the time or provided a short period of time to live. A company, without the medical review, could stand to lose millions.
Now, this is not to say that there are no policies available without the waiting period. There are Life Insurance Policies in Austin TX that do not require a waiting period. Readers can contact Perdue Insurance Group for specific information about policies.
What is the Catch?
There are some general rules and expectations for a policy without a waiting period. Firstly, the cost may be relatively higher compared to an equal policy with a waiting period.
The waiting period is also designed to give time for the company to respond and organize the plan. There must be no gray area if or when the policy is engaged. It takes time to properly detail the policy. Some may want to have a lawyer review the policy as well. This is an extra way for clients to protect themselves with someone they inherently trust.
There may also be slight restrictions applied. For example, the cap for a policy without a waiting period may be lower in comparison. The Life Insurance Policies in Austin TX vary in all sorts of ways. Only a consulting professional can offer specific individual details.
What should be expected?
In exchange for the above, a client should expect a few things. Firstly, they can expect almost immediate coverage. It is possible to visit the office and walk out with a preliminary policy. Some information will be required. Call ahead and schedule a consultation for details on the pertinent paperwork needed.
Visitors can also expect to pay an amount reflective of the “no medical exam.” The costs vary, of course. A policy without a waiting period is possible, but it is a special feature and ability that needs to be specifically sought after.