No Medical Life Insurance

Relax, there's no medical tests
for simplified issue policies
Photo by shawnzrossi

There is a simplified issue life insurance policy available from BMO Insurance, which is sold direct via their website and call centre. It is not available through a broker network.

The policy is called the Easy One and is available to applicants ages 50 to 80. It comes in face amounts of up to $25,000. The plan provides lifetime protection and a discount for non-smokers. The policy also allows the insured access to a 24-hour professional counseling hot-line, as well as elder care support.

The pricing on the policy for a male, age 63, who is also a non-smoker would be as follows:

• $5,000 of coverage: $38.25 a month,
• $10,000 of coverage is $56.75 a month,
• $20,000 of coverage is $93.75 a month.

Competing insurance companies have their own simplified issue plans to match up against the Easy One:

Assumption Life Golden Protection Plan

• Available through broker network
• The policy is available to applicants age 40 to 85
• Face amounts up to $50,000
• Built-in Accidental Death Benefit
• Coverage available on an immediate and deferred payout basis

Canada Protection Plan Simplified Life and Deferred Life Plans

• Available through brokers or sold directly (The same pricing for both methods)
• Policy is underwritten by Forester's Life Insurance Company
• Available on an immediate payout basis or a deferred payout basis.
• The policy is also available in a Life-Pay option or a 20-Pay option
• Face amounts up to $75,000

Industrial Alliance The Perspective

• Paid out on an immediate basis
• Face Amounts up to $50,000
• Guaranteed cash values and paid-up values
• Multi-life discount if second spouse applies

For more details on these, or other, Simplified Issue No Medical Life Insurance policies in Canada please contact us at 1-866-899-4849. Also, feel free to visit our No Medical Life Insurance Quote Page.