If you have a family who depend on your income in Virginia, you should consider buying a no exam life insurance policy, in order to protect them. Life insurance is at times difficult to understand due to the large selection and the different types of insurance that are available.
An insurance policy is a legally binding contract between an insurance company and the person who buys the policy. In exchange for payment of a specified sum of money, called the “premium,” the insurance company agrees to pay for certain types of loss or damage as specified by the contract. When a loss occurs which meets all of the requirements described by the terms of an insurance policy, the loss is said to be “covered” by that policy.
There are 3 main types of life insurance:
- Term life
- Whole life
- Variable life.
In Virginia you can buy a new simple term life insurance for $150,000.00, and “no medical exam required” for up to $300,000.00, in about 15 minutes. You can get same day coverage if you answer some simple medical questions and you can apply on line, hassle free.