Pros and cons of non-medical life insurance

Like the name says, it’s the life insurance with no medical exams required. It could be a great option for smokers, people with health conditions or for the elders, because when a person gets older, the health usually deteriorates.

There are some non-medical life insurance policies that are focused on helping Ontarians under a variety of circumstances get insurance coverage.

Pros of no medical exam life insurance

#1. No medical exams required

It’s a major advantage. If you are a Canadian resident between 18 and 80 you can apply and your application will be accepted. Even people with pre-existing conditions such as cancer, diabetes, HIV, hepatitis, depression, heart disease, kidney disease or stroke cannot be denied. No medical exam is required. No hassle with medical tests. All you have to do is answer a few questions to qualify.

#2. No denial due to health issues or smoking

If you are a Canadian resident between the ages of 50 and 75, you will be instantly approved for coverage ranging from $5,000 to $25,000 – regardless of your current health or medical history. You can get covered even if you have been turned down before, or you are a smoker, or overweight, or just afraid of needles. 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.

#3. Guarantied acceptance

There are some insurance plans for those who:

  • hard to Insure
  • have been declined before
  • wants to purchase a small amount of coverage for funeral expenses
  • has poor medical history and would likely not qualify for traditional life insurance
  • does not want to go through medical testing
  • wants fast and immediate coverage

#4. Guaranteed premiums

Your premiums will not go up and your coverage will not go down. When you reach age 100, you won’t pay anything.

#5. Coverage and benefits

Coverage and benefits may vary and may include:

  • Usually, from $5,000 to $25,000 – tax free death benefit; however, you can now get covered up to $500,000 with no medical tests if you fall within certain age brackets (generally under 65 years old) and health parameters.
  • Accidental death benefits with the face amount of 5X
  • Terminal illness benefit up to 50% of face amount
  • Transportation benefit up to $2,000 at a maximum of $2.00 per kilometer
  • Child term benefit

#6. Lifelong coverage

It is protection for a lifetime. As long as you make your regular payments, your coverage will never be cancelled. There’s no end date.

#7. Tax-free lump sum

Your coverage will be paid directly to your beneficiary – tax free. No questions asked. Your beneficiary can use the lump-sum payment towards funeral costs, outstanding debts and loans, living expenses… The choice will be theirs.

#8. Compassionate advance living benefit

Once your coverage has been active for 2 years, you can choose to take 50% of the death benefit in advance if you’re diagnosed with a terminal illness. The remaining 50% is paid directly to your beneficiary when you pass away.

#9. Accidental death benefit

In the case of accidental death before age 85, your benefit amount will increase 5X if you’ve been covered for over 2 years. That means your beneficiary could receive up to $125,000.

#10. Plans available for smokers

#11. You can get your policy in days, not weeks

#12. Savings for non-smokers

There are significant savings for non-smokers – up to 20% on their premiums compared to smokers.

#13. Easy to apply

You can apply online, by phone or in person in minutes and you can get approved for coverage with no medical exam required.


Major cons of non-medical life insurance

#1. No medical life insurance is more expensive.

In the case of a no medical life insurance plan, the insurance company cannot completely assess your risk level. So they are taking on more risk to cover you and they compensate for it by raising your premium.

#2. Small coverage

For non-accidental deaths due to illness or old age, you can expect as little as $25,000. If you’re carrying a mortgage, daycare costs and saving for your kids’ tuition, you know that won’t stretch very far for your loved ones. Normally, the maximum coverage ranges between $50,000 for a guaranteed issue life insurance policy and $500,000 for a simplified life insurance (versus up to $5 million for a term life insurance policy with a medical exam).

#3. Non-accidental death during first two years

If you pass away within the first two years of paying premiums and your death is not accidental, most likely, the insurance company only pays out an amount equal to the payments you made within those two years. This means your loved ones will only reimburse the premiums paid during this period.

Age, smoking, health problems or simply the lack of time can prevent us from obtaining the protection we require. If this is the case, a no medical life insurance policy could be the answer.

how can we help you?

Please let us know how we can help. Whether it is a free no-obligation quote or just a question – we will be happy to provide you with detailed answers.


Please let us know how we can help. Whether it is a free no-obligation quote or just a question – we will be happy to provide you with detailed answers.

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