About no medical life insurance in Canada
No medical life insurance is one of many options available to Canadians. It is designed for a specific group of people in particular – those who do not qualify for standard life insurance policies or those who prefer to not undergo a medical examination to get coverage. It is a quicker and less invasive process to get life insurance with no medical exams.
If you are considering this insurance, read below about how it works, how to get coverage, and the pros and cons of this insurance product.
What is no medical life insurance?
No medical exam life insurance does not require you to take a physical to qualify. Your application may still include health questions, but you do not need to be evaluated by a medical professional before a policy is approved. This type of insurance is less time-consuming and has less stringent qualification requirements. However, it is more expensive than normal policies.
Depending on the insurer, your policy may be referred to as:
- Simplified issue life insurance
- Guaranteed acceptance life insurance
Both refer to products that require either no exam or minimal health information to be issued a policy.