American Amicable Term Made Simple: Life Insurance Without Complications or Medical Exams

If you need life insurance at a good price with no medical exams and high coverage, you should consider purchasing the Term Made Simple policy developed by American Amicable.

This is a very flexible term insurance policy with high benefits that offers up to $400,000 in coverage and doesn’t require you to have any medical exams in order to qualify. You will just have to answer a certain number of questions about your health and habits.

What’s more, Term Made Simple offers another big advantage: level premiums. This means that the cost of your premiums will never change during the life of the policy. Like its name says, it’s term insurance made simple.

What Is Term Insurance and Why Might It Be Right for Me?

An insurance policy that you only pay for when you need it: term life insurance, or temporary life insurance, is a simple as that. These are products that last a set number of years and then expire, so many people purchase them to cover their loved ones during special periods, such as their children’s younger or college years, or the last years of their lives.

As the term of this insurance is limited, insurance companies assume less risks, so they are able to offer better prices. In fact, its price is one of the major advantages of term insurance: it is always lower than that of permanent insurance.

However, it can still offer rather high coverage, as is the case with Term Made Simple, which offers a death benefit of up to $400,000, a significant amount.

Another big plus of term insurance is that it is typically easy to access. With Term Made Simple, for example, there are no medical exams, so even people in poorer health can purchase the policy without many complications.

What’s more, American Amicable Term Made Simple can be converted into permanent insurance very easily, without you needing to go through the underwriting process. This major advantage from American Amicable is made even more attractive by the fact that you can convert your policy without needing to demonstrate your insurability.

What Terms Does American Amicable Term Made Simple Offer?

American Amicable Term Made Simple term life insurance is available in various lengths: 10-, 15-, 20- and 30-year terms. These options are offered based on the age of the applicant:

• 10-year life insurance: available from age 18 to 75.
• 15-year life insurance: available from age 18 to 70.
• 20-year life insurance: available from age 18 to 65.
• 30-year life insurance: available from age 18 to 55.

Despite these access ranges, the company offers the possibility of renewing your insurance, so its validity can be extended. You can apply to extend your policy up to age 95, an age at which very few companies offer insurance, making this product a very attractive option for people of advanced age.

Keep in mind as well that you always have the option of converting your term insurance into permanent insurance, under certain conditions and terms.

What Coverage Does American Amicable Term Made Simple Offer?

With the Term Made Simple policy, you can purchase coverage from $50,000 up to $400,000, a significant amount.

These coverage options vary by age, gender, health status and habits of the people applying for the policy. What will not change is the premium you will pay, because with Term Made Simple, premiums will remain level throughout the life of the policy.

This level premium feature sets this product apart from most others on the market, and is one of the policy’s major upsides.

Are Medical Exams Required for American Amicable Term Made Simple?

You will not have to have any medical exams. Like other no medical exam insurance policies, you won’t need to undergo medical exams, have tests of your blood, urine, or other fluids, or submit any medical certificates.

To qualify for term life insurance with Term Made Simple, you just need to answer the questions the insurance company will ask you during the underwriting process.

You will need to submit comprehensive information. On this point, Term Made Simple differs from other no exam products because you will be asked to submit a lot of information. In exchange, remember that the coverage and the benefits of the policy are very appealing.

In addition to other information, they will ask you for:

• Personal and residency information.
• Age, gender.
• Height and weight.
• Occupation and your responsibilities.
• Income, payments you receive.
• Whether you smoke.
• Health status: if you have been diagnosed with a condition such as cholesterol, high blood pressure, heart problems, heart attack, stroke, diabetes, liver disease, lung or respiratory disease, cancer, AIDS or HIV, mental disorders, nervous system disorders, etc. A comprehensive review of your medical conditions.
• If you are or have been in a hospital receiving any type of treatment.
• Family medical history.
• Other information on your habits, lifestyle, high-risk hobbies, etc.

All of your information will also be checked against the MIB database, which provides details on the insurance each person has taken out, and your motor vehicle record, to find out your driving history.

Using all these details, the company will determine the risk it will take on by insuring you and decide whether to grant you the policy, under what conditions and at what price.

On this note, it’s important to keep in mind that Term Made Simple life insurance offers different services depending on your health status and habits. There are three Health Classes: Preferred, Standard and Standard Smoker. The Preferred class is for people in very good health who have never smoked. The other two classes are assigned based on whether you have smoked or currently smoked and what your current medical condition is.

What Additional Benefits Does American Amicable Term Made Simple Offer?

In addition to the death benefit, Term Made Simple life insurance offers three major advantages within the policy at no additional cost:

• Terminal illness accelerated benefit. If you are diagnosed with a terminal illness with a life expectancy of less than one year, you can ask to have the policy’s benefit accelerated and receive up to 100% of the coverage in advance.
• Accelerated benefit for confined care. If you develop an illness that requires permanent confinement for medical care, you can request an advance of the benefit. In this case, you can request an advance of 2.5% of the coverage each month, up to a maximum of $5,000 per month.
• Chronic illness accelerated benefit. If you develop a chronic illness, you can also request an advance of the payout. You will need to demonstrate that your illness is preventing you from performing at least two of these activities of daily living independently: eating, personal hygiene, bathing, using the toilet, dressing, and moving around.

What’s more, the Term Made Simple life insurance policy offers various customization options. These are riders that improve and expand the benefits of the policy. The most important ones are:

• Accidental death benefit. If you die in an accident and not due to an illness or natural cause, your beneficiaries will receive extra money.
• Juvenile coverage. This benefit offers additional coverage of up to $15,000 per child. It will remain in effect until they turn 25, when it can be converted into an individual policy without needing to go through the underwriting process.
• Critical illness benefit. If you develop a critical illness, you can request an advance payment of the policy’s benefit. You can choose whether you want 25 or 50% of the coverage, as long as this amount does not exceed $100,000. You can use this money to cover the costs of your illness. To qualify for this benefit, you must have one of the following conditions: cancer, blindness, terminal illness, serious coronary problems, kidney failure, paralysis, stroke, heart attack, or any type of major organ transplant.
• Disability benefit. If you develop a disability that prevents you from working, this option will offer you up to $1,500 per month for a maximum of two years.
• Waiver of premium for disability benefit. If you have a total permanent disability, the insurance company will cover your premiums for as long as you are incapacitated.
• Unemployment protection benefit. If you find yourself out of work for over two weeks, the insurance company will cover your policy’s premiums for a maximum of two years.

In addition to its significant coverage, Term Made Simple is a term insurance policy that is completely customizable and adaptable to your needs.

In Summary

Insurance term:
- 10, 15, 20 or 30 years.

Coverage:
- From $50,000 to $400,000.

Type of premiums:
-Level premiums: They will not change during the life of the policy.

Additional benefits:
- Included in the price: Accelerated benefit included for terminal and chronic illnesses and confined care.
-Optional accelerated benefits: Accidental death and accelerated living benefits for critical illnesses. Juvenile insurance. Unemployment insurance. Waiver of premiums in case of permanent disability.

Medical exam:
-Medical exams are not required. Expanded underwriting process.