No Medical Exam Life Insurance
No medical exam life insurance allows getting coverage without any medical examinations and tests. Your acceptance is guaranteed – regardless of your health or medical history. No medical reports will be requested. You can get covered even if you have been turned down before, or you are a smoker, or overweight, or just afraid of needles.
“People don’t buy life insurance because they may die; they buy it because their loved ones keep on living”
What most insurance companies can offer you:
- Your premiums will not go up and your coverage will not go down.
- Your coverage can never be canceled as long as your premiums are paid.
- There are significant savings for non-smokers – up to 20% on their premiums compared to smokers.
- It is protection for a lifetime.
- Your beneficiary will get the money tax free.
- Moreover, your beneficiary can use the lump-sum payment towards funeral costs, outstanding debts and loans, living expenses… The choice will be theirs.
Your coverage can be from $5,000 to $25,000. It doesn’t matter what your current health is or if you have a medical condition. There are no health questions and no medical tests when you apply.
There is a variety of life insurance non-medical plans for seniors.
Canada Protection Plan (CPP)
Canada Protection Plan offers a wide variety of non-medical life insurance plans that available to people age 55 to 85. Premiums are guaranteed to never increase. It comes with a minimum coverage of $2,500.00 and the minimum premium is $300 a year. The maximum possible coverage is $25,000. It comes with a two-year waiting period, meaning, that if death results in the first two years, there will be a return of premium to the insured without interest.
Canada Protection Plan offers both a deferred and simplified whole life insurance plan. The deferred life insurance plan asks less health questions but has a 2 year waiting period on non-accidental death benefits. The simplified term life insurance plan has additional health questions but is available from day one. The maximum issue limit is $50,000. The plan is also available on a life pay and quick pay basis.
CPP Whole Life Insurance Plans
- Simplified Life Insurance Plan: This life insurance plan is available without medical examinations. However, there are some health questions: from three to 12 health questions. The more health questions the insured can answer “no” to, the lower the premium and the higher the death benefits. Most simplified issue plans also offer discounts to non-smokers. The plan could be in a life-pay option or a 20-pay option. There is a free transportation benefit. Face amounts are as high as $50,000.00 with built-in guaranteed cash values. The plan is very well priced for smokers and non-smokers, but does not cover insulin dependent diabetics. $25,000.00 of coverage for a 55-year-old, female non-smoker is $60.26 a month.
- Simplified Life Plus Plan. Under this policy, the insured has to answer 22 health questions, but the death benefit on this policy starts immediately and amounts up to $75,000.00 are available.
Canadian Final Expense Plan
All residents of Canada, no matter their age or health conditions, can purchase a Canadian Final Expense that:
- Provides money for the burial and final expense costs
- Recognizes dignity of the deceased
- Helps to prevent existing assets from being sold or borrowed against to pay funeral and burial costs
- Can relief the financial burden from your loved ones
- Can be used to pay outstanding debts and other expenses
- Plans increase 5% simple interest annually.
It is our responsibility not to financially burden our loved ones with our final expenses during the emotional time of hardship.
Multi-Trip Emergency Medical Insurance
Multi-trip emergency medical insurance plans are designed for Canadians travelling outside Ontario and/or Canada. With this convenient coverage you can take as many trips in the year as you want. There is no need of having to buy insurance every time you travel outside your home. No more worrying about having to buy coverage for a last minute business trip or a weekend getaway. If you are a truck driver, sun-seeker, vacationer, snowbird, or business traveller who travels more than once a year, then this is the option for you. To be eligible for insurance under this policy, you must be a resident of Canada, and covered under a government health insurance plan.