No Medical Life Insurance
No medical life insurance is a type of insurance where you don’t have to go through a medical exam to buy the policy. That means no needle, no blood pressure reading, and no urine sample.
You have a wide variety of options to choose from no matter your health status. You can either get a term or permanent policy depending on your needs.
You should get a term policy if you have shorter-term obligations like paying off your mortgage or replacing your income.
You should get a permanent policy if you have longer-term needs like funeral or burial costs or paying taxes. It’s also referred to as final expense insurance because of the number of seniors over 60 and 70 using it to pay for these costs.
The better your health, the higher the coverage amount that you can apply for and the more competitive your rates. And because you don’t have to go through the medical exam, you can get guaranteed coverage instantly.
If you belong to one of the following categories, you should consider no medical life insurance:
- You have a chronic illness like heart disease, cancer, diabetes, or HIV.
- You have been turned down for standard life insurance coverage.
- You participate in hazardous avocations or extreme sports.
- You want to get covered as soon as possible without waiting for underwriting.
- You work in a dangerous occupation.
- You just don’t like the needle.
There are 2 types of no medical life insurance: simplified issue and guaranteed issue.
With simplified issue, you answer a few questions about your medical history. With guaranteed issue, you don’t have to answer any medical questions at all.
Simplified issue has more competitive rates and higher coverage limits than guaranteed issue. Both make applying quick and easy and either way, you avoid going through the medical exam.
Shop for no medical life insurance with the best insurance companies in Canada.
Contact us to get a quote now by sending your date of birth, gender, and smoking status.