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No Medical Life Insurance
Many people these days are either too busy or just plain don't want to bother with doing an Insurance medical. Having to go to a doctor, or even having the nurse come to you house for an hour is just not a lot of fun, and let's face it, who wants to be poked by some stranger and give blood?
Well, there are some Insurance companies now, that will offer you life insurance without a medical, without giving a blood sample, and even without seeing anyone at all. In most cases you will need to answer some health questions over the phone, depending on the amount of insurance you want to buy.
The companies to consider are:
- Unity Life EZ term, you can buy up to 250,000 of 10 year term insurance buy just answering 9 questions over the phone or online. The problem is, that if you answer any one of the questions with a "YES", you automatically don't qualify.
- CPP (Canada Protection Plan), they have many different options, all the way from first day coverage (up to 150,000), to deferred coverage (this is the only policy that I know of where you can buy term insurance with a 2 year waiting period), and also they offer Whole Life, all non-medical.
- Western Life, up to 250,000 without seeing anyone
- Assumption Life
If you have a health condition that you think may prevent you from being insured (maybe you have been declined already), you most definitely need to talk to us. There are a lot of specialty products out there, but getting the right one for you is key, because I see a lot of people buy the wrong policy, here are some examples:
- One 60 year old man with Diabetes applied for a policy that required a medical. After a 2 months evaluation, he was rated 250% and the premium was just out of reach for him so he declined the offer. Had he talked to us first, we would have recommended a policy with CPP, who actually can insure a diabetic that is not on insulin without a medical exam, and no waiting period.
- Another lady I spoke to did the opposite, she thought that she couldn't get insurance because of her high blood pressure and high cholesterol, so she bought one of those guaranteed issue plans on TV, which was extremely expensive, and she was not covered for the first two years. What we did is applied at a couple of companies for her after (yes, she did need a medical for that), but one of the Insurers gave her a regular health rate because all her medical problems were well controlled with meds, and she saved a lot of money, and had coverage starting right away (no waiting period).
So you see, because of so many variables, knowledge and experience is key, and we have it, so take advantage of it!
There is an art to getting the best No Medical Life Insurance, and very few Life Insurance Agents have perfected that.
We believe that with over 18 years of experience in Shopping for Life Insurance, we have developed the knowledge, wisdom and relationships with many great Canadian Life Insurance Companies, to be able to get YOU the absolutely BEST rate, medical or non medical life insurance , no matter what your situation or health condition is.
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