3X0-104 test plan - Linux Security, Privacy and Ethics (Level 1) Updated: 2023

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Medical exams are among the top reasons people hesitate to buy life insurance. You imagine sitting in a doctor's waiting room, doing blood draws, standing on a scale, and many other things that make us uncomfortable. But it's easy to understand why life insurance medical exams remain an industry stap — an insurer must gauge its risk before it grants you a policy. Ironically, medical exams lower insurance premiums for the average life insurance customer.

Of course, medical exams may sound overwhelming, especially if you've abandoned a life insurance application or been denied. This is where no medical test life insurance comes in. The stereotypical no medical test policy includes no medical data of any kind. Many buyers also expect coverage in days, or at least that's the idea. Despite what you might hear, it isn't quite that simple.

Who should buy a no medical test life insurance policy?

Many shoppers are misinformed about the target audience for no medical test life insurance. "Who should buy a no medical test life insurance" should be rephrased as "who will qualify for no medical test life insurance coverage?" These policies eliminate the inconvenience of a medical test for healthy buyers who don't use tobacco in most cases. However, it comes with higher premiums, and underwriting can be extended as insurers gather medical data from other sources.

Some small funeral cost policies are more flexible, especially if you invest in workplace life insurance. However, more sizable policies not connected to your workplace can only accept limited risk. Seniors, buyers with preexisting health conditions, tobacco users, and other high-risk buyers may not qualify.

How do insurance companies know who presents a more considerable risk? First, no medical test doesn't mean medical records-free. Applications still include basic medical questions, and companies can rescind life insurance policies if you get caught lying on your application. More importantly, life insurance companies may still order a copy of your medical records. So, companies would go off your last blood tests or appointment notes if you have a history of high cholesterol, heart disease, diabetes, etc.

College students and young working adults with no significant medical issues may be ideal candidates for a no medical test life insurance policy. Another thing to note is companies will only issue small life insurance policies without an exam, and premiums are higher. So if you're looking for a $1 million policy or retirement planning options, you should make time for a short medical exam.

What if I don't qualify for a no medical test life insurance policy?

Some companies only offer small life insurance policies with no medical test required. However, most insurers offer a range of permanent and term life insurance policies. If you don't qualify for a no medical test policy, licensed insurance agents can help you apply for a medical test life insurance policy.

While many companies are going online, we recommend working with a licensed insurance agent, especially for no medical test policies. Any time your application is denied, it creates an alert for other life insurance companies you might try to buy from, reducing your chance of getting a policy elsewhere. An agent can help you avoid this by stopping short of denial if you need to switch to a medical test plan.

Types of no medical test life insurance

Life insurance companies sell four life insurance policies without a medical exam. Coverage, pricing, and the application process are a few of the things that vary widely. So what are your no medical test life insurance options?

Simplified issue life insurance

Simplified issue life insurance looks to streamline the approval process. No blood tests or medical exams are required, but applicants answer basic health questions. If the answers given meet underwriting guidelines (the company uses electronic medical records to verify), you may qualify for a policy. Generally, these policies cover non-smokers with minimal known risk factors. However, premiums are higher, and benefits tend to be lower to account for the elevated risk.

Guaranteed issue life insurance

Guaranteed issue is also commonly referred to as guaranteed acceptance. These whole life insurance plans require no medical test or health surveys. Age limits are imposed, with most policies issued to seniors. But if you're within the stated age range, you are guaranteed a life insurance policy. Guaranteed issue life insurance offers death benefit policies topping out around $20,000 to $30,000, depending on the company. The company does not certain the death benefit or premiums, only the policy. So the same policy may or may not be budget-friendly.

The company may also utilize a waiting period, during which beneficiaries would get a refund of premiums. However, the full benefit would only apply once the waiting period passes.

Accelerated underwriting life insurance

Accelerated underwriting uses everything except the medical exam. Underwriters access applicants' public medical records and credit data. Typically, companies take applicants between the ages of 18 and 60. Regular life insurance underwriting could take weeks or even months. Simplified underwriting life insurance policies can be issued the same day with some online insurance providers. It is not guaranteed issuance, and licensed agents may refer some customers for a medical test life insurance policy. However, death benefits could be higher than other no-medical test policies.

Group life insurance

Group life insurance is part of many employer benefit packages. No medical test is required, and death benefits are typically small. More importantly, it's tied to your employment. So if you separate from your employer, the policy will lapse. You can invest in higher death benefits by increasing your monthly deductions, but this is not required.

Pros and cons of no medical test life insurance

Pros:

• No blood tests or other medical exams required
• Quick approval, sometimes even the same day
• Guaranteed issue available within set age limits

Cons:

• More expensive than a medical exam-based life insurance policy
• Death benefits are lower, and waiting periods may apply
• Insurance companies may base your approval on health questionnaires and medical records
• Underwriting may be less tolerant of prior health issues, including things that would otherwise be non-problematic

No medical test life insurance is sometimes mistaken for a fast and easy solution for older adults or those with preexisting health conditions. In reality, it's just the opposite in many cases. Guaranteed issue policies may only be sold through life insurance companies for seniors. You also pay more to get less coverage across the board.

Life insurance companies can still access medical records. So applicants aren't hiding a history of heart disease, diabetes, or other chronic conditions. The only difference is you don't have to meet with a medical professional for a formal exam. If in doubt, non-guaranteed policies may be harder to get.

How to shop for a no medical test life insurance policy

A workplace policy will be issued based on your employment and yearly benefit elections. If you want the best life insurance companies for no medical life insurance that's all yours, remember a few key things:

• Work with a qualified life insurance agent
• Choose a company or brokerage with medical test options
• Compare quotes and coverage to ensure you understand what you're getting
• Be prepared for higher prices with limited death benefits
• Be honest on any health questionnaires

A no medical test life insurance policy's simplicity may be deceiving. It takes one element out of the application process, but underwriters may pull medical records and be stricter about smoking, preexisting conditions, age, and other common risk factors. Unfortunately, being denied by a life insurance company could make it harder to get life insurance coverage in the future.

Your agent can get a soft underwrite if you're working with a broker or company offering medical test policies. If it looks like your application can be denied, your agent could run a medical test life insurance application instead. A great thing about no medical test policies is that many companies offer online estimates. So you can compare pricing based on age, smoking status, desired coverage amount, etc., before you start the application process.

The most important thing to remember is underwriters still consider medical history. So if answering medical questions, answer honestly. If discrepancies come up later, leaving out details about your health may cause significant problems.

FAQs

Senator Elizabeth Warren released a Social  Security expansion plan on the morning of September 12, the day of the next Democratic presidential primary debate. David Leonhardt of the New York Times was among the first to report about it. , along with their families, and it will strengthen the solvency of the system. Very wealthy and high income people will pay more taxes, but research suggests they will maintain their status in society.  And fixing Social Security may help relieve the worries among some of the wealthy that inequality threatens capitalism, and their own high-status position.

Warren’s plan would provide an across-the-board increase in monthly Social Security payments. Every current and future beneficiary will receive at least $200 more per month than they do now, and many low-income workers will receive at least $600 more. Mark Zandi from Moody’s Analytics has done a comprehensive analysis of the bill, finding that today's average $1395 a month check could go up to $1595.

Senator Warren’s expansion could be worth $40,000 to $120,000 for all Social Security recipients. Today, a 65-year old expecting to live 20 more years who receives an extra $200 per month from Social Security could claim income worth about $40,000 (the present value of Warren’s Social Security increase). A $600 boost in benefits is worth more than $120,000 over those 20 years.  And Social Security benefits are worth more than what you could buy from private annuity providers.*

To appreciate how Warren's proposal will help elderly households, consider that the current median value of private retirement accounts for all workers is zero - most people have nothing.  For those who have some retirement assets, their median balance is approximately  $60,000.  And if you think people can sell their houses and live off the income, think again.  The median home equity value for people over age 65 is only about $120,000.  Zandi’s report also finds that Warren's plan would cut the elderly poverty rate by about two-thirds. That is big, especially because the U.S. currently has the highest rate of elderly poverty among all rich nations.  And for the elderly who already have decent retirement incomes, the increased benefits will be taxed.

HOW TO PAY FOR THE SOCIAL SECURITY BOOST?

Warren's plan is fully paid for by applying the payroll tax to higher incomes.  Currently, most workers pay 6.2% because they earn less than $132,900 per year, which is the earnings cap; income beyond that amount is not taxed for Social Security. The Warren plan imposes the payroll tax on earnings above $250,000 – the income between $132,900 the current cap and $250,000 would not pay more. Those earning $250,000 and higher –  less than 1% percent of all workers -- are the only group that have received significant pay raises over the years.

We don’t know all the names of the 1.7 million of 166 million workers who earn over $250,000 but some of them are famous--Jeff Bezos, Warren Buffett, and others.  And those who earn over $250,000 (again, less than 1% of all workers) hold the bulk of private tax-advantaged retirement assets and pensions, making them the main beneficiaries of the private retirement system.  The Economic Policy Institute found that the top 1 percent of wages grew 138 percent since 1979, while wages for the bottom 90 percent grew only 15 percent.  Social Security is in potential financial trouble because the earnings subject to the payroll tax is capped, and low incomes have stagnated while incomes above the cap increased.  The Warren plan would help right this imbalance and mitigate this hidden and destructive consequences of income inequality.

Hope for Social Security And Retirement Futures

Without additional revenues, Social Security will only have enough money to pay 77% of benefits in 2034. I used to not worry about this, thinking the political system would never let benefits decline. But I worry now.  I worry about the long-term finances  of Social Security, but I am much more concerned about 401(ks) and pensions. I have been monitoring the other parts of the America’s retirement system for 35 years and the non-Social Security part is a disaster.  Social Security needs more money and higher benefits--which the Warren bill would provide, fully funding the new benefits.  And while Social Security is the strongest part of America's overall retirement system, parts of the Warren bill will strengthen it, making not only Social Security but the entire retirement system stronger, in addition to the increased benefits.

Fortunately, Democratic candidates are waking up to make efforts to increase Social Security revenues to maintain benefits and increase them where necessary. Several bills in Congress are similar – but not as bold as the Warren plan.

Economically, Social Security is one of the easiest public policies to understand and implement. The Warren tax increase is relatively large, but concentrated on those who with the most income gains and who already get most of the benefits from other tax breaks supporting private retirement plans.  Those who pay will have not a significant loss of their economic well-being, which has grown disproportionately in the past decades.  And millions will be better off.  The math is easy. The politics are difficult. The necessity is unassailable.

*Technical lesson: Buying a promise of  $200 -  $600 a month in the open annuity market would be more expensive because of "adverse selection."  Insurance companies know that  people who voluntarily purchase private annuities are statistically the people who live longer than average.  The insurance company has to charge more because of this adverse selection.  And the insurance company lowers benefits and charges more because it has to make a profit. Social Security doesn’t face adverse selection because everyone gets the annuity and Social Security is not-for -profit.

Bert Markgraf is a freelance writer with a strong science and engineering background. He started writing technical papers while working as an engineer in the 1980s. More recently, after starting his own business in IT, he helped organize an online community for which he wrote and edited articles as managing editor, business and economics. He holds a Bachelor of Science degree from McGill University.

Series 79, also known as the Investment Banking Representative Exam, is a Representative-Level test administered by FINRA. Anyone who passes the Series 79 test is qualified to advise on and/or facilitate debt and equity offerings, mergers and acquisitions, tender offers, financial restructurings, asset sales, divestitures (or other corporate reorganizations), and business combination transactions.

The type of pet you insure is only one factor in determining your pet insurance costs. For example, the average cost of pet insurance for a dog is $44 per month and $30 per month for a cat, according to Forbes Advisor’s analysis. That’s based on a policy with $5,000 of annual coverage, a $250 deductible and an 80% reimbursement level.

Here are some other common factors that determine pet insurance costs.

Annual Maximum, Deductible and Reimbursement Level

These are the three main variables that determine how much reimbursement you’ll get if you file a pet insurance claim: annual maximum, deductible amount and reimbursement percentage. Pet insurance will cost more if you choose a high annual maximum, low deductible and/or high reimbursement level.

Pet’s Age

Younger pets are typically cheaper to insure than older pets. That’s because older pets are more likely to have injuries and illnesses, which means higher vet bills. Those higher insurance claims are passed on to policyholders in the form of higher pet insurance premiums. We found the best prices for pet insurance are after a pet’s first birthday until around age six.

Pet’s Breed

Certain breeds are predisposed to hereditary problems and illnesses, which could result in more vet visits and higher medical costs.

For example, a small mixed breed dog costs $33 per month to insure compared to $76 per month for a French bulldog, according to a Forbes Advisor analysis of the most expensive dogs to insure.

Pet’s Gender

Pet insurance companies have found that female pets usually have fewer claims compared to males, so some insurers use pet gender in pricing. Male pets cost about 5% more than females for pet insurance, according to the National Association of Insurance Commissioners.

Your Location

The average cost for a veterinarian visit is about $61, based on Forbes Advisor’s analysis. Since average vet costs vary around the country, insurers account for that when setting rates.