Even elderly people in poor health can take out life insurance. Usually, the insurer is able to evaluate a person’s general state of health through questions on the application form. In some cases, a more in-depth medical questionnaire, a medical report or blood tests may be required.
Did you know?
Some insurance policies can be purchased without a medical exam. Beware! These policies are generally more expensive than regular policies. Moreover, they entail long waiting periods. This insurance is not payable upon death until the policy has been in effect for 2 to 3 years. If the policyholder dies before the end of this waiting period, the insurer simply refunds the premiums already paid.