GUARANTEED ISSUE (NON-MEDICAL) LIFE INSURANCE
What is non-medical life insurance?
Canadians nowadays have a lot of options regarding insurance policies these days. While non-medical insurance is the one where you do not to give any medical exam or even any medical statement from your doctor.
This policy has made easier for Canadians and makes them give time to their work, children, and house besides going to a doctor for a medical statement. We at Risk Solutions help you out to get the best possible coverage plan in the market.
You don’t need to worry as no medical exam or urine/blood test is taken to test your medical conditions to offer you the best possible coverage. But yes, this is a little costlier.
Types of non-medical life insurance:
Simplified issue life:
When we talk about simplified coverage you do not need to give any medical examination but need to answer some questionnaires about your health like if you have ever been diagnosed with a serious illness or ever hospitalized, etc. The insurance coverage can be a whole life or term policy basis.
Guaranteed issue life:
The guaranteed life insurance does not require any medical examination or a medical questionnaire. But you are offered a much lower level of coverage i.e approximately $25,000 for non-accidental death.
Also, if due to sudden critical situations you die within the first two years pf insurance your beneficiary will only receive a benefit equal to the payments you’ve made on your policy. Normally, the coverage remains until you continue to make the payments.
When should I look for no medical life insurance?
Buying a no medical life insurance is best for people who are looking for life insurance policies, but cannot buy the one due to their health issues, an illness like diabetes, heart disease, cancer, or HIV or has a risky profession, such as logging, sea fishing, or roofing.
No medical insurance can also be suitable if you don’t want to undergo any medical examination or questionnaire before buying insurance.
Contact us and get more information about our policies. We will make sure our agents will answer all your queries and offer you the best possible plan in the market.