Reader’s Question:

I have a term life insurance that is about to expire. I no longer intend to renew with my current insurer. Though I’d like to keep a life insurance policy from a different carrier, I do not want to go through the tedious medical exam during application process. It took me forever to get approval with my current life insurance company. Will I be able to find a no exam life insurance in San Antonio, Texas? I appreciate your help.

Tina

San Antonio, TX

It’s good that you asked me, Tina.

You never run out of options for no exam life insurance in San Antonio, Texas. We all know that it takes a while before a traditional life insurance policy gets approved. You need to undergo the lengthy procedure of underwriting process, medical exam, a battery of interview, and all the works.

Time has changed and the tide is flowing along with you. Since most life insurance companies nowadays are transacting online, you can start shopping your life insurance policy online. With no exam life insurance policies, you are simply required to fill out a questionnaire which is intended to capture relevant information about you such as occupation, age, gender, birthday, zip code, among others. You don’t have to worry about any medical condition that could possibly reject you from coverage. It is good to know that no exam life insurance policy usually does not consider your medical condition to be a major factor for approval of coverage (though I am not telling you to conceal any medical condition for approval). This is precisely the reason why this can charge relatively higher premiums.

Even if this is not guaranteed to be approved, but it might get your attention if you’d learn that you can get a life insurance policy in 15 minutes with no exam life insurance policies.

Reader Question

When I die and my life insurance policy pays out to my family…how will that be taxed?

Jenny,

Canyon Lake, Texas

I found this excerpt about your question Note: Under the current federal law, beginning in 2011, estates over $1 million will be subject to the federal estate tax with a maximum tax rate of 55 percent. Note there is a deduction against income for estate taxes paid. A good estimate of the net total percentage paid in taxes at the top brackets is 70%.

Reader Question: How are benefits graded in my life insurance policy?

Sal,
San Antonio Texas

Hi Sal, Generally life insurance benefits are graded during the early years of the policy for death from natural causes, with the full amount paid if death occurs after the graded period or if the policy-holder dies accidentally at any time. Benefits may be used to cover burial expenses. A policy is usually purchased to cover up to a certain amount of years.