How to Get Life Insurance without a Medical Exam in the UAE?

Life insurance is a necessity for you and your family in these difficult times. Most of the people in the UAE invest in an insurance policy to help their families financially. These policies often require you to submit a medical examination before applying for a particular policy. It helps the insurance company in assessing the chance of risk involved in offering the insurance to you. If you hate the idea of undergoing a test and wish to purchase life insurance without a medical, you can try several methods.

What is No Medical Exam Life Insurance? 

When you attempt to purchase a life insurance scheme, there is an ocean of desk work involved that you need to top off and submit. One such desk work includes getting a medical examination to guarantee that you are qualified to apply for life insurance coverage from the insurance company. This includes a few blood tests, urine tests, and health-related questions by an experienced doctor to assess your current medical condition. In case if the insurance company finds out that you have certain medical conditions, you may need to buy a policy having expensive premiums or even face rejection from the insurance company. 

No Medical Life Insurance permits you to avoid all of the desk work and medical examinations. It allows you to have a small insurance cover regardless of the medical issues you may have. This permits you to opt for life insurance without going through an actual clinical examination. This kind of insurance cover is primarily designed for senior residents who may have different sorts of medical issues that make it hard for them to get some other type of insurance. The No Medical Life Insurance is prominently known as simplified issue insurance or guaranteed insurance.

This kind of insurance cover is a term insurance scheme ordinarily having a low sum assured. A term insurance scheme is an insurance item that guarantees payout to the recipient upon the passing of the policyholder. In place of this assurance, a proper sum has to be paid as a premium for a certain period. Nonetheless, even though No Medical Life Insurance strategy has a low assumed worth, they can be purchased for a bigger sum. Even though such an insurance scheme might appear to be ideal because of its quick and simple approval that include no clinical trials, the premium you are going to pay will be a lot higher than the policy you purchased. This is because the insurance company has no idea of your medical problems.

How does a No Medical Life Insurance work? 

For the most part, this kind of insurance scheme is like a normal life insurance policy. When your request is accepted, you should simply pay a monthly premium to get insurance cover. In case of your unexpected death when the scheme is active, you will be qualified for the coverage sum. There is just a single difference in this type of life insurance policy, which is the missing clinical test. This distinction anyway factors in immensely. 

The insurance agency utilises clinical exams as a measuring stick to assess the danger implied in providing you with the insurance policy. This is just about as significant as your other reports that are checked minutely. Without this test, the expenses rise, which in turn costs you more.

Types of No Medical Life Insurance in UAE

There are three types of this life coverage scheme:

Guaranteed Issue 

In the event that you have a prior ailment that makes it hard for you to get any other insurance policy, this may be your last hope. This approach, otherwise called the Guaranteed acknowledgment insurance, is anyway costly since the insurance company tries to overlook your clinical records. This sort of No Medical Life Insurance isn’t the best as the coverage issued is very small. The demise benefits contrasted with the expenses you pay are genuinely microscopic. 

Apart from that, they have an ‘evaluated demise advantage’. This suggests that the full demise advantage will not be paid till the next couple of years. Likewise, you are generally needed to respond to some straightforward inquiries during the application request: 

• Do you have HIV? 
• Are you critically ill? 
• Are you a smoker? 
• Do you drink?
• Are you hospitalised?

Simplified Issue 

While selecting simplified life coverage, you don’t need to take a clinical test. Nonetheless, the insurance company will ask a bunch of clinical questions during the application interview. These inquiries will be related to an individual’s ailments and clinical history, the fundamental data in regards to stature and weight, regardless of whether you smoke or drink or, on the other hand, in case there were any recent hospitalisations. Sometimes, they even ask for your past applications for coverage. 

Most of the individuals in the UAE pick this type of life insurance as it is rapidly accessible but you need to understand that these No Medical Life Insurance policies offer extremely restricted coverage. Additionally, there is no guaranteed approval and surprisingly the charges you pay are a lot when compared with the small cover it offers. 

Many organisations have begun offering ‘accelerated guaranteeing’ insurance, which is similar to simplified life insurance as it substitutes the prerequisite for a clinical test with its very own clinical poll. The insurance company utilises different records accessible in the public space like criminal records, property enlistments, bankruptcy presentation documents, licenses, etc. to have a better image of your well-being status without the requirement for a clinical trial. However, this scheme is about as costly as simplified life insurance.

Group Life Insurance

A few companies provide an insurance scheme to their employees that offer a limited amount of coverage as an additional work compensation. This kind of life insurance is known as group life insurance. Since this approach doesn’t need the workers to respond to any clinical inquiries or take an actual medical test, it tends to be viewed as a No Medical Life Insurance. The companies pay the premium, assuming not all, but at least some part of it. 

If your company provides you coverage or not, it is always better to buy another insurance for yourself as these schemes cannot be transferred in case you choose to change your job.

When to choose a No Medical Life Insurance? 

No Medical Life Insurance schemes are publicised as problem-free, fast, and advantageous. These advantages are valid, but selecting these schemes isn’t the ideal decision for us all. There’s just a specific number of individuals who will enjoy a genuine advantage by selecting these schemes. Here are some of the situations for picking this kind of scheme: 

• If you are suffering from a chronic illness such as diabetes that is out of hand, getting a normal insurance policy won’t be possible for you. Regardless of whether an insurance company supports your application, the expenses charged will be enormous. Deciding on guaranteed life insurance in this case is your most ideal choice. 
• In case you are working in an unstable industry or your work profile includes taking an interest in a non-trusted occupation, normal insurance will be hard to apply for. These schemes have a severe and intensive process that will prompt your dismissal even if you are fit as a fiddle. 
• In case you are in a rush to take up some kind of insurance policy, this no medical life insurance will be your best friend as other schemes are time-consuming because of their guaranteeing scheme. 
• If your company does not give you a group issue insurance and you experience some medical problems, these schemes are intended for you. Typically, group insurance is accessible regardless of whether you have medical issues for reasonable premiums. In case you lose your job, you will also lose insurance policy cover. If you quit your job, you will be disqualified from all the insurance policies.
• If you are a senior resident with medical problems, these schemes might offer you some help and take care of your family after your death.

In case you are a strong, young person who has no likenesses to the above-mentioned people, then these schemes are not intended for you. As a young individual, you most likely require a policy that offers a good amount of coverage and supports your family when you are no more. You ought to select schemes that can assist your children with accomplishing their life goals and provide huge monetary help to your spouse.