What Does Park Home Insurance Actually Cover?

More than a quarter of a million people in the UK currently reside in park homes, and for good reason. It’s a much quieter life than those living in flats in the city can experience, and many residents love it because park homes are easier to maintain and far more affordable than their brick and mortar counterparts. Even if you choose a park home, though, insurance is still a must. Should anything happen to your home or what’s inside, you’ll want to get the coverage your deserve, and a park home policy can do just that, but what exactly does it cover? Take a look.


Your Living Space

No matter how old your park home may be, if something destroys it, your policy will replace it with a new equivalent home. Typically, the replacement costs involved like site clearance and delivery are included with most park home policies. In addition, you may be able to purchase a policy that covers your temporary living accommodations; too, help to make certain your outofpocket costs are kept to a minimum.

Your Stuff

Park home policies also cover what you had inside of your living space. Anything that is damaged beyond repair is typically covered by these policies, so everything from your appliances to your bed linens will be replaced with brand new options so you can move forward. While you’ll want to check to make certain, often even your garden contents can be insured, so ask about that option if you want to keep that gorgeous outdoor table and chair set insured.


Not every claim you make against your park home insurance policy is going to involve damage to your living space or your belongings. Public liability cover is also typically a part of these policies. That means that the legal costs and compensation payments you’re required to pay if someone is injured or their property is damaged and it’s your fault is completely covered. Some policies even offer a legal helpline you can phone in the event anything ever happens on your property.

Understanding the When

Wondering when the coverage kicks in? You’re not alone. Many individuals seeking insurance are concerned about the same thing. Park home insurance is typically used in a number of settings. Storm damage is one of the biggest times claims are filed. Floods and escape of water, though, can also trigger claims. Likewise, you can file a claim in an instance of subsidence. Instances of fire, theft, attempted theft, and vandalism also allow you to file a claim.

While you’re not typically required to have a park home insurance policy, it is more important than ever to make certain your beautiful residence and everything you have in it is protected. We can help. With one of the best policies in the industry and great coverage options, we’ll help to make sure your park home is safe. Ready to learn more, contact us today and ask about park home insurance.

Business Insurance As Available Both In Canada And UK

Irrespective of the country one is settled in, any business run by that person needs to be insured against as many eventualities as possible. All businesses and selfemployed people dealing especially with clients and consumers need to be absolutely insured against instances which might give rise to claims, compensations or litigations. Compensations and settlements if paid out of the profits of a selfemployed person or a businessman can never do the business any good.

The same is also true for anyone owning and running a business in Canada. Many different types of insurance which are commonly offered by the insurance agents in Canada like:

  • Public liability insurance is a type of business insurance in Canada which is generally used to protect a business against third party claims, to fight litigation in the court of law etc. This insurance helps to compensate for any settlements that need to be made and also covers all expenses incurred when the case is pending in the court of law.
  • Accident insurance wherein as the name suggests any loss of life or injuries incurred due to an accident comes under the purview of this insurance. It also includes such things as funeral benefits, rehabilitation of the injured, vehicle modification etc.
  • Privacy breach coverage insurance wherein all security incidents irrespective of whether they are intentional or not, which have the potential to make an impact on the business are covered.
  • Property and liability insurance which helps the business owners protect their physical assets and property as well as act as a safeguard if and when lawsuits are raised.
  • Commercial auto insurance which helps to cover costs incurred due to any damage caused to the vehicle or if there is a third party damage in the instance of an accident.

There are many other insurance benefits that are available and one should only take up an insurance which he is sure to be able to keep alive so as to get its benefits. Hence insurance premiums need to be paid regularly and on time.

Both Canada and UK have certain insurance policies which are readily available in both the countries as a protection against lawsuits and settlements. For the small and medium business owner or for that instance a professional, the public liability insurance uk is a necessity few can do without. Other insurance policies which are especially make for professionals and selfemployed businesses are:

  • Employers liability insurance which is a mandatory insurance required by the law of the state where the business is situated. This holds true for all those businesses who have people in their employment and provides a number of benefits to the workers or employees like hospitalisation coverage, regular income in case the insured person needs to stay out of work either temporarily or permanently etc.,
  • Public liability insurance wherein the policy helps to:
    • Make provisions for the settlements of claims,
    • Bear the expenses incurred when a compensation claim has been taken up in the courts of law,
    • Offer financial assistance in instances a third party suffers from bodily harm etc.
  • Commercial vehicles insurance which is mandatory for all businesses which own commercial vehicles and use them for transportation of businessrelated materials, things, and people. In fact, businesses owning a fleet of vehicles can opt for a fleet insurance which provides the same benefits for a number of cars but at a relatively lower premium amount.

While these are the main types of insurance policies available in the UK, others like the equipment liability insurance, the product liability insurance etc., can also be taken up provided they are needed by the business on priority. Care must be taken to ensure proper selection of insurance policies so that it can actually benefit the business instead of becoming a liability after some time.

A Guide to Selling Your Life Insurance Policy

When you buy a life insurance policy, it’s a long-term commitment financially.

However, if you can’t pay the premium, or if you don’t need it any longer, you can also sell your life insurance policy. Here’s how to go about selling it.  

Typically, sellers of life insurance policies are over the age of 65. However, there are times when younger persons may also qualify if they have certain medical conditions per the Life Insurance Settlement Assoc. or LISA as it’s frequently referred to. When you have a Universal Life Insurance policy that has benefits over $100,000 it’s most desirable to sell, however, smaller term life and other policies may also be sold per LISA.

Settlements are typically pooled together and they’re owned by institutional investors such as banks, insurance corporations and a few individuals.

There are also similar transactions that are called viatical settlements. These are for those who have a terminal illness and aren’t expected to make it more than 24 months. “Surrendering” a policy is a different type of action, in this, you’ll contact insurers to surrender the policy and receive back a portion of the cash value of the policy.

We’ll Go Over The Following:

How Life Insurance Settlements Work

Life Insurance Settlement Amounts

Potential Pitfalls Of Life Insurance Settlements

What To Ask Prior To Selling Your Life Insurance

Selling Your Life Insurance Safely

How Life Insurance Settlements Work

Life insurance settlements can be done via a broker or a provider. According to LISA, the difference is:

Brokers will solicit multiple bids on the insurance policy in an effort to get the best possible sales price. Typically, most sales are done by brokers.

Providers, on the other hand, are the buyers of the life insurance settlement. You can sell directly to a provider and bypass the broker.

After you’ve found a broker or a provider, you’ll go through the typical process as follows:

You’ll give the details of your policy, and your medical records to the broker or the provider. If using a broker, they’ll shop the potential for the policy buyers. The buyers will then calculate the expectancy of your life based on what your medical records reveal.

If they give you an offer, you may then sell the policy.

The buyer will become the new owner of the policy and they will begin to pay the premiums of the policy. The buyer may also resell the policy to another party that will take over the payments of the policy.

Occasionally, you’ll need to check in with the buyer in order to confirm that you’re still alive. Example, the buyer may periodically have to send a postcard to you that you simply sign and return to verify that you’re alive. You can go over these details with the broker or the buyer prior to the sale.

When you do die, the owner of the policy then receives your death benefits.

Life Settlement Amounts

Your offer is going to be dependent on the expectancy of your life. The face amount of your policy and what the buyer can expect to pay out in the premium while you’re alive.

The money will be taxed as an income or a capital gain depending on the details of the sale.

Potential Pitfalls Of Life Insurance Settlements

When you sell your policy, you can anticipate that you’re going to make some money, however, there are a few drawbacks:

It can be challenging to determine if you’re getting the right price for the policy.

Commissions may be eaten up by as much as 30 percent of the settlement offer per the Financial Industry Regulatory Authority.

You’ll have to pay the taxes on the money that you do receive from the life insurance settlement. The death benefit of the policy is tax-free to the beneficiaries.

If you’re family still relies on your financially, they’re going to lose that safety net when you die.

If you’re on public assistance, the settlement may revoke your eligibility for that assistance.

What To Ask Prior To Selling Your Life Insurance Policy

You may get a great deal on your settlement. However, prior to the sale, you should ask yourself these questions:

Do I still need the life insurance coverage? If I can afford the premiums and have beneficiaries who still rely on me I may be wise to keep this policy.

Are there other means to pay this premium? When the premium is too high there are often other ways to pay it such as a loan from the policy that will reduce the death benefit, but still, keep something in place.

Can I trust the broker or the buyer or both? Seek only brokers who are licensed via the state insurance dept. Always understand how much of the personal information the buyer has access to as well. You don’t want to work with a buyer who will rush and pressure you into a decision.

Selling Your Life Insurance Policy Safely

Always follow these steps to ensure that you’re getting a great deal if you truly want to sell your life insurance.

Don’t respond to solicitations for your policy. It’s wiser to find a life settlement broker via the financial advisor or insurance agent that may also be licensed to do such a settlement. The more you understand about your life insurance policy and options, the better. Research the broker for license and any complaints against them before you sell. Keep in mind that you don’t have to sell just because someone bids.

3 Tips For Making A Successful Insurance Claim

While you consistently pay your insurance premiums each and every month, when it comes time to file a claim, you may find that getting paid out for any damages could be harder than you think. But if you get in a car accident, have a house fire, or get your property damaged, you’re likely going to need the money from your insurance company to pay for the repairs or replacement. So to help ensure that you can successfully file your insurance claim and get the money you need, here are three tips you should follow when working with your insurance carrier over a claim.

Call Your Insurance Company Once You Begin A Claim

To give you the best chance of getting your insurance claim paid out, Nathaniel Meyersohn, a contributor to CNN Money, recommends that you call your insurance company as soon as you’re ready to start filing your claim. When you speak to them, ask them what the next steps you should take are and what information or actions they need you to provide. By following their rules about filing a claim, you can ensure that you don’t waste any of your own time trying to figure it out on your own. Also, if you need immediate help, speaking directly to your insurance company can help expedite certain processes, like sending out a claims adjuster.

Give All The Information Up Front

To get everything moving at a good clip for your insurance claim, it’s important that you acquire all the right information to give to your insurance carrier. Especially when you have a car accident and are injured, it’s vital that you give your insurance carrier all the information you have regarding what happened at the accident. For example, DMV.org advises giving them your name and policy number along with the date of the incident and the personal information of anyone who was involved in or witnessed the incident. By providing all the information up front, you can keep from having to go back and get more and more information, which can prolong the conclusion of your claim.

Rigorously Document Your Destroyed Belongings

In the instance of something like a house fire, it’s important that you keep track of all the damage that was done and which of your belongings you’ll need to replace. To do this, FindLaw.com recommends making a list of everything that you own and keeping everything, even the things that are ruined, until you’ve been paid out for your claim. This will ensure that you have proof regarding your belongings and give you a greater chance of getting everything you need replaced.

To ensure you get covered for all that you should, consider using the tips mentioned above when making an insurance claim.

Will Tesla Reduce Your Auto Insurance Premiums?

Tesla, Inc (TSLA) stock is trading around $326 per share heading into November, and the company has a market capitalization of $54.449 billion. The price-to-earnings ratio is -67.26, and the earnings-per-share is $-4.85. However, despite these underinflated statistics, Tesla Inc. is on the cusp of implementing major innovations. In Q3 2016 analysts pegged Tesla’s earnings estimates at $-0.54, while the actual earnings came in above expectation at $0.71. However, in Q4 2016, estimates were $-0.43, and actual earnings were $-0.69.

By Q1 2017, forecasters estimated earnings of $-0.81 with actual earnings of $-1.33. By Q2 2017, Tesla started turning things around with an improved performance over estimates ($-1.33 actual earnings versus estimates of $-1.82). The next earnings date is slated for 1 November 2017, and analysts are anticipating earnings of $-2.26. The reason Tesla’s actual and estimate earnings figures are negative is the company has invested heavily and not generated the necessary returns. As soon as Tesla starts rolling out mass production of vehicles, the EPS figures will improve. Everybody agrees that it is a value stock, with high earnings potential in the future. Consider the following revenue and earnings figures since 2014:

  • In 2014, Tesla generated revenues of $3.20 billion with earnings of $-294.04 million
  • In 2015, Tesla generated revenues of $4.05 billion with earnings of $-888.66 million
  • In 2016, Tesla generated revenues of $7 billion with earnings of $-674.91 million

As far as recommendation trends go for the stock, the consensus among Thompson’s Reuters analysts is a rating of 2.8 on a scale where 1.0 is a strong buy, and 5.0 is a sell. Most analysts regard it as a hold stock, with a high minority as an underperform stock, and a small minority as a buy/strong buy option. The recent upgrades and downgrades history for Tesla is interesting. On 4 October 2017, Nomura initiated an upgrade on the stock to a buy rating. However, on the same day, Standpoint Research downgraded the stock to a sell from a hold rating. Despite these negative performance figures, this is not a stock to be summarily dismissed.

Why Tesla Is Revolutionizing the Automobile and Insurance Industry

Despite lackluster performance in terms of profitability and EPS, Tesla remains at the forefront of innovation. The company was founded by South African born Elon Musk – an entrepreneur with bold ideas. He has been credited with founding many of the world’s most cutting-edge solutions such as PayPal, Zip2Corp (which he sold for $307 million), X.com, Space Exploration Technologies Corporation (SpaceX) and of course Tesla. The ground-breaking work and creative vision of Musk and company has raised the bar in the technological arena and is causing a paradigm shift in the way industry is operating.

Already, Tesla plans to roll out a wide range of affordable vehicles that do not run on fossil fuels. His electric cars have won critical acclaim from major industry authorities such as Motor Trend Magazine, among others. Musk is all about maximizing, harnessing and producing clean energy which benefits humanity. This is invariably going to cause tectonic shifts in the way that the automobile industry, the energy industry, and the automobile insurance industry functions. By incorporating artificial intelligence into vehicles’ navigation systems, driver safety will be dramatically enhanced.

This will naturally reduce the human error component that is an intractable component of current automobile insurance premiums. By reducing the probability of accidents through AI technology and smartcar functionality, humanity can save a bundle on automobile insurance. Already, Tesla, Google, General Motors Corporation others are working on the requisite technology to enable vehicles to self-drive. The sci-fi vision in Hollywood is becoming a reality for the masses. Flying cars may be next, and companies like Tesla are spearheading this initiative with clean energy, low cost, and maximum efficiency.

Getting Cheaper Home Insurance is Now Possible

You might worry about getting insurance all the time. You want to get it, but you are also thinking about the cost. You have to pay for it on a monthly basis so you are eligible to claim for insurance whenever you need it.


The price is usually the factor why you might be having a hard time with quality home insurance. In as much as you want to get insurance now, you think about how much you need to spend for the next months or so. Sometimes, you end up doing the wrong thing which is to buy insurance which is of low quality and poor coverage. You don’t have to do it. You can still get quality insurance at an affordable cost. Here’s how you can do it.


Install security features

Some insurance companies are willing to lower the price if you can prove that you have already installed security features at home. Getting security cameras is important. This helps in insurance fraud disputes. You can also install alarms and sprinklers to protect the property against full damage. You just have to show that you have done everything to avoid destruction and insurance companies will be willing to put a lower premium on your policy.


Get bundles

If you have more than one property, you can get insurance from the same company for all of them. This allows the company to give you a lower price for your insurance. There are also those that are willing to bundle different types of insurance such as car and house policies together. The goal is to stay loyal to them and you will easily have lower rates for your insurance policy.

Pay annually

This is only feasible if you can afford the really high cost. However, if you can afford to do it and the amount is quite different from that of the monthly payments, just go for it. Besides, paying annually means you won’t have to think about it again for the entire year.


Now that you know that rates for Insurance and Protection can be lowered, you no longer have an excuse for still not having it. You have to keep searching until you are satisfied with an insurance company and the policy it offers. You should also read reviews about the company you are to partner with. They must give you quality insurance at an affordable cost. Unless all your personal standards are met, you should keep searching for other options. Rest assured, there is an insurance policy that will surely meet your needs. Once you have found the right partner, close the deal and be consistent in paying the premiums.

3 Financial Tips For Saving On Car Insurance

Car insurance is one of those things that everyone has to have but no one likes to really talk about. However, if you did talk about it more, you may come to find out that there are some simple yet effective ways that you could be saving money on your car insurance that you didn’t even realize. This savings could equate to quite a bit of money over the course of a year, and who couldn’t handle having a bit more money to play with? To help you find some savings with your own car insurance, here are three financial tips for saving on car insurance.

Check Rates From Various Carriers

When you first got your car insurance, you likely shopped around to find the best coverage at the lowest price. Depending on how long ago that was, you may have had your driving situation changed in a way that could give you lower rates with a carrier different than your current carrier. However, you’ll never know unless you ask. For this reason, Jon Linkov, a contributor to Consumer Reports, recommends doing an annual rate check to see if you could get a lower rate by switching insurance providers. While this might mean going through some work on your end each year, this could amount to some major savings for you on a year-to-year basis.

Group Insurance Policies Together

Like was mentioned above, you may have got your insurance a while ago. Since then, if you’ve added any other type of insurance into your life through a different insurance carrier, it may be worth your while to see if you could save some money by grouping your insurance policies together. Chris Morris, a contributor to Bankrate.com, shares that many insurance companies will let you stack discounts if you choose to have multiple lines of insurance through them. Not only could this save you money, but it could also simplify your life by only having one insurance carrier for all your insurance needs.

Only Get The Insurance You Need

If you look at the details of your car insurance, you’re likely paying for quite a few types of things. Some covers the people in your car, some covers your actual vehicle, and some covers others if you happen to get in a car accident. But if you haven’t looked at your policy in a while, you might actually be paying for things you no longer need or no longer need the amount that you’re currently paying for. Barbara Marquand, a contributor to NerdWallet.com, suggests looking at your current policy and dropping certain coverages that are no longer applicable, like collision and comprehensive insurance. While this won’t work for everyone, if you can go without it, you could save yourself some money on your premiums.

If you’re interested in saving money on your car insurance, use the tips mentioned above to do just that.

How to Save Money on Your Home Insurance

Insurance is not always a top priority if you don’t have much spare cash. People often forgo insurance when they are struggling to buy food or put fuel in the family SUV.  This is understandable, but insurance should never be regarded as an optional extra.

In some instances, insurance is compulsory. In many countries, it is illegal to drive a vehicle on a public road without some kind of insurance. You won’t be breaking the law if you don’t buy a homeowner’s insurance policy, but you could end up homeless or seriously out of pocket if a bad storm flattens your property or mice chew the electrical circuits.

Taking out home insurance is sensible, so if you are looking to save money on your policy, here are some useful tips.

Compare Prices

It is always worth comparing prices when you need any type of insurance. Use price comparison websites to compare prices for the major insurance companies, but don’t forget to ring around some local insurance brokers to see what they can do for you. Local insurance agents such as State Farm Calgary are usually happy to price match a verified quite, and since they offer a more personalised service, it could be a smart move to go ‘local’.

Make Your Home More Secure

Home security is a weak spot. Many insurance claims are security related, for example, if an outbuilding is broken into and expensive tools stolen. Improving your home’s security will help to reduce the cost of home insurance, so it is worth investing in new doors and windows, improving locks, and adding a high-tech alarm system.

Check out the guidelines for each insurer to see what discounts they offer for higher specification home security.

Accept a Higher Deductible

Deductibles are the sums you agree to pay up front when you make a claim. The more you agree to pay, the lower your premium will be. However, bear in mind that a very high deductible may not bring your premiums down all that much.

Reduce the Risk of Claims

Each time you make a claim on your home insurance, it puts your premiums up. Insurers calculate premiums based on the likely risk of paying out on the policy, so if you have made recent claims, you can expect to pay more. Clearly, we buy insurance to protect us in the event we need to make a claim, but it is only sensible to take precautions against future claims.

Check to see if there is anything you can do to protect your home against bad weather or criminal damage. Invest in storm shutters or make repairs before they snowball into more expensive problems. Your insurer will thank you for being a proactive homeowner.

Ask for Discounts

Many insurers offer discounts to homeowners if they take out a second or third insurance policy. Buy your auto insurance and home insurance policies from the same agent and you should be offered a discount. If not, try a different company.

Don’t accept the first price you get. There are always ways to find cheaper insurance, but be careful not to go with a company that is rated badly for customer service.

Why no exam life insurance policies may be the right option for you

When it comes to life insurance policies there are plenty of different ones to choose from. The majority of policies will ask that you undergo an underwriting process that includes a medical exam to take place. But not all of them.

Not long ago, you would pay dearly for the right to skip the exam, not so anymore.

“Due to advancements in digital underwriting, the price gap between no exam policies and exam policies has narrowed significantly in recent recent years” – Ty Stewart – Founder of SimpleLifeInsure.com

Here are the 4 reasons why these no exam life insurance policies could be the right ones for you.

You need your coverage quickly

Usually, the underwriting process of a standard life insurance policy is between 6 and 8 weeks. Whilst some people may be happy to wait this long, there are times when this period may simply be too long to wait.

This includes:

  • When you are applying for an SBA loan, which will often require life insurance to be in place
  • When you are in the process of a divorce and it requires you to have your former spouse named as beneficiary in a life insurance policy
  • You are in the process of selling or assigning pension rights to a third party
  • You are planning to be on vacation or will be out of the country for a long period of time

In all of these situations, a life insurance policy that does not require a medical exam may be ideal.

You haven’t been able to visit your doctor for some time

You may not realize it, but the date you last visited your doctor may be the difference between your policy being approved or declined. If it has been more than 2 years since you last visited your doctors, then you may want to carefully consider applying for a life insurance policy. 

Whilst you are likely to think that you are in great health, a medical exam may uncover a medical condition that you didn’t know was there.

A great idea for you may be to apply for a policy that does not require you to undergo a medical exam. Even if this is just a stop gap until you can have your health checked over and then apply for a policy that does require the physical.

You have a phobia of doctors, needles or blood

For some people, the thought of visiting a doctor fills them with terror. If this is the case, then a life insurance policy that requires them to undergo a medical exam may not be possible.

The idea of heading to the doctor may make you feel anxious and stressed. Not only can this make it difficult to even get to the doctors, but when you get there your blood pressure could be higher than normal. Having an impact on the readings taken by the doctor.

The level of policy value you need is low

Some people may require higher level insurance coverage (in excess of $1million). For these people, you will not be able to take out a policy without a medical exam.

The average policy amount that is taken out on policies that do not have a requirement for medical exams are around $500,000. This level is suitable for a huge amount of the population.

If you are not sure whether or not a policy without a medical exam is suitable for you, then it is best to seek the expert advice of an independent broker. They can work with you to identify the best approach to take.

When you Should Go With “No Exam” Life Insurance

The idea of “no exam” life insurance can be a real problem with insurance advisors looking to decide if it is right for their client or not.

No exam life insurance typically comes with less coverage, with an average of under $400,000. These policies are also often more expensive than medically underwritten policies. Another problem with them is that the companies that offer this style of insurance tend to be less-known than larger companies. “Even though no exam life insurance is a little limited,” says TrueBlueLifeInsurance founder Brian Greenberg, “there are some occasions when it can be the right choice for your client.”

To help you gain a better understanding of whether a no exam life insurance policy is the right choice, here are five occasions when it could be.

  1. Convenience

Many clients feel that the convenience of getting a no exam life insurance policy outweighs having to pay higher premiums. Some people are just far too busy to have a medical exam performed even if they know they need it for the coverage. Instead of having to wait for the client to undergo a medical exam they can just call you or have a short meeting to go through the application. You can apply for a no exam policy in less than 20 minutes and the client will have coverage from a great company in just 24 hours. They could also choose to undergo a medical exam later on to have their premiums lowered.

  1. If they Need Coverage Quick

There are many clients who need to get coverage in a hurry. There could be any number of reasons for this including needing to secure a loan or divorce arrangements. No exam policies are great in this case because they can have their policy ready in 24 hours. If a customer needs to have quick coverage but needs to be covered for more than $400,000 they can take the approach of having a “stack policy”. If the client needs to have over a million in coverage but don’t have the time to go through the underwriting process, then you can put the client on a number of no exam policies across several companies to give them the coverage they need. Of course if you take this route you need to be honest and upfront with the other companies, because there are rules on how much coverage a person can receive. This is dependent on their income and age.

  1. If They Want a Smaller Policy

If you’ve got a client that’s only looking for a small policy then it might not be worth going through the cost and time it takes to get an underwritten policy. Younger clients in particular have less time and money. There could be a price difference between the two policies that is so small it doesn’t make sense to take the time to go through with an underwritten policy. If a client born in 1984 needed to have a policy at $100,000 for 20 years then it will cost them around $11 a month for an underwritten policy rather than the $12 a month for a no-exam policy. That is a price difference of less than 10%. Of course the client is the one who will make the final decision, but it’s a good idea to offer a client a no exam policy at this point. While a no medical exam policy might only go up to $400,000 right now things could change in the future with more coverage offered.

  1. If They are Afraid of Doctors or Needles

There are some people who just hate going to the doctor. While it’s never fun to go through a paramedical exam for an underwritten policy, some people feel that it’s almost akin to torture at the worst, and an unnecessary unpleasantness at best. This paramedical exam can involve blood and urine samples and will often require people to welcome a complete stranger into their homes to have the exam done. Even though these examiners are almost always nice and polite, the exam itself is rarely nice.

There are also people who are just afraid of needles. The most recent reports suggest that this fear of needles affects 10% of American adults. It’s also believed that the actual number is higher. This is because extreme cases go unreported due to how infrequently these people will receive medical attention. These people would see a no-exam life insurance policy as a Godsend. You should ask your clients if there are any problems they would have with being subjected to needles and a medical exam. They often have plenty of reservations about the exam itself so you should let these people know that they don’t always have to undergo a medical exam.

  1. If it’s Been a Long Time Since they Saw a Doctor

Many advisors have found themselves dealing with clients who hear some bad news after their paramedical exam. This could be anything from a diagnosis of diabetes to an irregular electrocardiograms. In any event the client could count themselves lucky they are learning about these problems now rather than later. The problem is that it causes their insurance policy to be rejected or they may be asked to pay higher premiums. You can protect your clients from this. If it’s been a long time since they saw a physician you should recommend that they apply for a no-exam policy so that they can get coverage within 24-48 hours. You can get started with the underwritten policy while giving them a no-exam policy. You just need to get them some coverage before they take the full exam.

These no-exam life insurance policies are a pretty new policy that are going to give you a valuable weapon on your arsenal of life insurance policies. While some advisors are a little hesitant about offering these no-exam policies because they are often more expensive, it is also the responsibility of an insurance advisor to get their clients life insurance coverage when they need it. While clients might be put off of getting coverage for any number of reasons, it is also the responsibility of an insurance professional to ensure that their clients understand all of their options, including the fact that they may not need a medical exam to get life insurance. There’s never been a better time to offer no-exam life insurance policies to your clients.