Are you looking to get your first life insurance policy? Or maybe you have coverage but are re-evaluating your options? Let’s look at no medical life insurance and how it differs from traditional coverage options.
Life insurance is a sensible move at any age but with so many product types available, how do you know which is the right one for you? Let’s look at the benefits of no-medical life insurance to help you get informed.
It’s Easy to Set Up
Many people delay getting life insurance because of the hassle they believe is involved. But no-medical life insurance is quick and easy to set up –answer some health and lifestyle questions to qualify.
It is quick and easy to apply whether you are young and healthy, have underlying conditions or are retired. No tests are needed and you won’t need a doctor’s letter. Depending on the provider and type of non-medical life insurance product you apply for, you may have different requirements but no-medical life insurance is always a fast way to lock in coverage.
Fixed Price, Fixed Coverage
Unlike term life insurance products, no-medical whole life insurance premiums never increase. This is a great benefit at the moment as prices for all expenses so volatile. Your coverage amount is guaranteed for the duration of your policy too. If the event of accidental death, your loved ones may even receive double the policy amount, and it is tax-free based on the life insurance product.
You may have been previously declined for a life insurance policy due to ill health; one of the most significant benefits of no-medical life insurance is that it is available to everyone.
We offer two varieties of no-medical life insurance:
- Simplified Issue – you answer some health and lifestyle-related questions to assess your needs.
- Guaranteed Issue – you may or may not have to answer any health or lifestyle-related questions and will be offered a lower level of coverage. If you have been declined before or know there are pressing health issues, this is a great option to ensure your loved ones are taken care of after you are gone.
Cheaper than you Think
As it is so easy to apply for a no-medical life insurance policy, you may believe that the cost outweighs the benefits. Our no-medical life insurance policies are extremely good value and start at a price that is affordable for most. We offer policies from multiple providers so we can help you find a product that fits your needs and your budget. It’s one of the many benefits of purchasing through an insurance broker.
You can select add-ons
You may think of no-medical life insurance as a stripped-back form of life insurance, and that can be true, but you can add on additional requirements to get more comprehensive coverage.
Critical Illness and Accidental Death are popular additions to no-medical life insurance policies. You can also add Child Term Benefit for a small additional cost or even additional coverage with a term life insurance for a temporary need such as coverage to pay off a mortgage!
Stats you need to know
- 70% of Canadians have life insurance – don’t be in the 30%!
- The most prominent reason Canadians gave for not having a policy was difficulty choosing the right coverage and policy terms – we can talk you through all your options with any industry jargon.
It Only Takes a Call
If you would like to talk to our team about setting up a no-medical life insurance policy or want someone to help you choose the right policy type for you, our friendly team is here to help. Cut through the jargon and speak to someone who understands where you’re coming from.
Blue Country Insurance – all your protection under one roof… because your health and life matters.