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No Medical Life Insurance

Life Insurance

Get protected without the hassle of a medical examination!

What is No Medical Life Insurance?

No medical life insurance, also known as no medical exam life insurance or simplified issue life insurance, is a type of life insurance policy that can be obtained without the need for a medical exam or extensive health questionnaire. This type of policy is designed to provide coverage for individuals who may have difficulty qualifying for traditional life insurance policies due to age, health, or other factors.

In Canada, no medical life insurance policies typically offer coverage amounts ranging from $5,000 to $500,000 and are available to individuals between the ages of 18 and 80. The application process for this type of policy is typically much simpler and faster than for traditional life insurance policies, as there is no requirement for a medical exam or detailed health questionnaire. Instead, applicants are usually only required to answer a few basic health questions to determine their eligibility for coverage.

While the premiums for no medical life insurance policies are generally higher than for traditional policies, they can provide an important source of financial protection for individuals who may have difficulty obtaining coverage through other means. No medical life insurance can be particularly useful for seniors or individuals with pre-existing health conditions who may not be eligible for traditional life insurance policies. By providing coverage without the need for a medical exam, no medical life insurance policies can offer a simple and accessible way for individuals to protect their loved ones and plan for the future.

Types of No Medical Life Insurance

No medical life insurance policies have become an increasingly popular option in Canada, as they offer a way for individuals to obtain coverage without undergoing a medical exam or answering lengthy health questionnaires. In general, there are three main types of no medical life insurance policies available in Canada, each with its own unique features and benefits.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is a type of no medical life insurance policy that is available to almost anyone, regardless of their age or health status. As the name suggests, this type of policy guarantees acceptance to all applicants, and does not require a medical exam or health questionnaire. The coverage amounts for guaranteed issue life insurance are typically lower, ranging from $5,000 to $25,000. However, this type of policy can be a good option for those who have difficulty qualifying for other types of life insurance policies due to age or health concerns.

Simplified Issue Life Insurance

Simplified issue life insurance is another type of no medical life insurance policy that is available in Canada. While this type of policy does require applicants to answer a few basic health questions, it does not require a medical exam or in-depth health questionnaire. Simplified issue life insurance policies are available in higher coverage amounts, typically ranging from $50,000 to $500,000. They may also offer more flexible payment options, such as monthly or annual premiums, and may have shorter waiting periods for coverage to take effect. It is suitable for people who have health issues too.

Accelerated Issue Life Insurance

Accelerated issue life insurance policies are a type of no medical life insurance policy that provide coverage for a specific period of time, such as 10, 20, or 30 years. While Accelerated Issue Life Insurance policies typically require an extensive medical exam, it is best suited for people in good health and those who seek faster approvals. These types of policies may have higher premiums than traditional term life insurance policies, and they offer a higher level of coverage and can be a good option for those who are in good health. No medical life insurance in Canada offers instant approval and competitive pricing.

On the whole, no medical life insurance policies in Canada offer a range of benefits and can be a good option for individuals who have difficulty obtaining coverage through traditional means. By understanding the different types of no medical life insurance policies available, individuals can choose the policy that best meets their needs and provides the financial protection they need for themselves and their loved ones.

Product Highlights

No Medical Life Insurance Policy Coverage Options

Coverage Options

  • Coverage amounts up to $500,000 available.
  • Options include term life, permanent life and universal life insurance.
  • Flexibility to choose a policy that suits your needs and budget.

No Medical Exams Required

  • No need to undergo a medical exam to qualify for coverage.
  • Application process is streamlined and convenient.
  • Coverage can be obtained quickly and easily.

No Health Questions Asked

  • No requirement to answer detailed health questions or provide medical information.
  • Approval is based on simple eligibility criteria and underwriting guidelines.
  • Coverage is available to individuals with pre-existing health conditions.

Competitive Pricing

  • Priced similarly to standard life insurance policies.
  • No additional fees or charges for not having a medical exam or health questions.
  • Easy to understand pricing structure with no surprises.

Instant Approval

  • Policies are typically approved instantly, with no waiting period.
  • Immediate coverage and peace of mind.
  • Option to apply online or over the phone with a licensed insurance advisor.
Benefits

Benefits of No Medical Life Insurance

1. Convenience And Speed

  • No medical exams or lengthy health questionnaires required, making the application process faster and simpler.
  • Policies can be purchased online or over the phone, eliminating the need for in-person meetings with insurance agents.
  • Instant approval is available, meaning coverage can be obtained quickly and easily.
  • Policies may offer flexible payment options, such as monthly or annual premiums.

2. Accessibility

  • No medical life insurance policies are available to individuals of all ages and health statuses, regardless of pre-existing medical conditions.
  • These policies may be a good option for those who have been declined for traditional life insurance policies due to health concerns.
  • Policies may offer higher coverage amounts than other types of no medical life insurance policies, making them a good option for those seeking more comprehensive coverage.

3. Financial Security

  • No medical life insurance policies provide financial security and peace of mind for individuals and their families, ensuring that loved ones are financially protected in the event of the policyholder's death.
  • Policies may offer a range of benefits, including death benefits, accidental death coverage and funeral expenses coverage.
  • Payouts from policies are tax-free, providing additional financial benefits to policyholders and their families.

In general, no medical life insurance in Canada offers a range of benefits that make it a convenient, accessible and financially secure option for individuals seeking life insurance coverage.

Get Started

01 Step

Get in Touch

The first step is to get in touch with our agency. This can be done by phone, email, or through our website. Our licensed insurance advisors will be available to answer any questions and guide you through the application process.

02 Step

Choose Your Coverage

Next, you'll need to choose your coverage. Our advisors will work with you to understand your needs and recommend the best policy for you. We offer a range of coverage options, including term life, permanent life and universal life insurance, with coverage amounts up to $500,000.

03 Step

Apply and Get Coverage

The final step is to apply and get coverage. Our application process is streamlined and convenient, with no medical exams or health questions required. Our advisors will guide you through the application, ensuring that all necessary information is provided. Once approved, your policy will be issued and you'll have immediate coverage and the rest assured.

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We at MyLegacy Insurance Services are made up of passionate individuals who are committed to helping North American families achieve financial freedom.