Frequently Asked Questions What is No Medical Life Insurance? Most companies offer a maximum amount of $500,000 (which is still better than not having any coverage at all). Joint policies are not available for no medical life insurance policies.Ĭoverage amounts for no medical life insurance may be limited.Flexibility and policy options are limited compared to a fully underwritten life insurance policy.
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Read on for more information about no medical life insurance in Canada, or get in touch with us directly for help finding the right policy for your needs. As a direct result of the pandemic, many life insurance companies in Canada updated their application requirements to facilitate life insurance approval without extensive medical examinations.
In the past couple of years, however, no medical life insurance has become much more common, especially in light of COVID-19, which delayed or created challenges for in-person medical exams. This can be time-consuming, but many Canadians still choose this route because it affords them access to the most affordable life insurance policy rates. Most traditional life insurance policies require the applicant to complete an in-depth health questionnaire and medical examination (which includes blood and urine samples). Primarily, however, no medical life insurance is ideal for those who have past or current medical conditions that disqualify them from fully underwritten life insurance policies (with health questionnaire, medical examination, etc.). Additionally, the cost of no medical life insurance is becoming much more affordable thanks to increased competition. Why? Mainly because of how quick and easy it is to get coverage. No Medical Life Insurance is becoming an increasingly popular life insurance product in Canada. Policies, features and companies are not all the same. Please Note – No medical exam does not mean no medical questions! Most no medical exam policies do have qualifying medical questions.
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Feel free to contact us for additional information or quotes, our team of life insurance brokers is always happy to help. As a result, customers are able to get higher quality policies at lower prices without having to complete a medical exam.īelow you will find more detailed information on how no medical life insurance works: the benefits, the drawbacks, available product types and more. It has become extremely competitive with different life insurance companies trying to offer the best products, pricing and options. The market for no medical life insurance in Canada has changed drastically over the last few years. This may sound like an overwhelming number of options but don’t worry, after learning about your needs for no medical life insurance, we will do all of the work for you and provide you with your available options. We offer almost 50 no medical life insurance policies from over 15 Canadian life insurance companies.
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