We’ve all seen the advertisements on TV, or on the radio, life insurance without a medical test and no health questions. It all seems pretty straightforward and easy, but not so fast. No medical life insurance can be really broken…
Author: aaronb
What is A Guaranteed Issue Life Insurance Policy?
1. How long is the waiting period for non-accidental deaths? Most guaranteed issue policies have a two-year waiting period, which means that if the insured dies in the first two years, the coverage is limited to a return-of-premium, plus interest.…
No Medical Life Insurance Pitfalls
No medical life insurance can be a convenient and viable way for people with health or lifestyle issues to obtain life insurance. The following are five pitfalls to look out for when making that move and going the guaranteed issue…
Smoking and Life Insurance: Points to Consider
We parse out the difference between smoking and non-smoking rates. Most insurance companies require an applicant to be tobacco free for 12 months before they qualify for non-smoker rates. To qualify for preferred rates, (which are further discounted rates given…
Tagged with: drugs
Guaranteed Issue Life Insurance: What’s the Catch?
What’s the catch? Most of us have seen the advertisements on TV, or heard them on the radio: life insurance with no medical tests and no health questions. How can this be possible? Insurance companies are able to offer this…
Tagged with: guarantied issue
Cocaine Use and Life Insurance
Cocaine and crack are the second most prevalent illicit drug, behind cannabis, used by Canadians 15 and older, according to the RCMP’s Canadian Addiction Survey Unfortunately, applicants who have a history of past drug use, including hard drugs such as…
Tagged with: drugs
Obesity and Simplified Issue Life Insurance
The obesity rate in Canada is probably close to 25%, according to the Public Health Agency. However, if you find yourself among that number, this doesn’t necessarily exclude you from qualifying for life insurance. Simplified issue life insurance policies are…
Why Accidental Death Life Insurance Has No Medical Tests
Accidental death life insurance policies may seem like a good deal at first glance. They can provide up to $250,000 of coverage without an medical and with no health questions. Plus, premiums can remain level, in many instances, to age…
Tagged with: death
How Does Canada Purple Shield Stack Up Against Its Competitors in the Funeral Insurance Market?
According to the latest data from the Toronto and District Funeral Directors Inc., the average cost of a funeral is $4,500 and many Canadians are using life insurance to help offset these costs. Canada Purple Shield plans, which are underwritten…
No Medical Life Insurance: What Our Experts Have to Say
Are no medical plans from BMO and others really so no hassle? No Medical Life Insurance sounds simple at first glance. It sounds like no hassle when it’s advertised as life insurance with no medical tests. But, hold on! Most…
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