Whether you are looking to get your first life insurance policy or looking to change to a different type, you may be curious about no medical life insurance.
Life insurance is a sound move at any age but with so many products out there, 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 who delay getting life insurance do so because of the hassle they believe is involved. But no medical life insurance is quick and easy to set up – simply 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 and no doctor’s letters are needed – please note requirements could vary on the non-medical life insurance product you apply for.
Fixed Price, Fixed Coverage
Unlike term life insurance products, no medical whole life insurance premiums never increased. Additionally, your coverage amount is guaranteed for as long as you hold the policy. 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 but 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 simply 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
You may believe that no medical life insurance comes at a cost that outweighs the benefits, but you will be pleasantly surprised. Here are a couple of examples of our coverage:
- Male, 35, Non-Smoker – $29.97/month
- Female, 50, Non-Smoker – $29.16/month
As you can see, it is a small price to pay for your family’s future financial security.
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 in choosing the right coverage and policy terms – we can talk you through all your options with any industry jargon.
- Should the worst happen, a funeral can cost $15,000, which could be covered by your life insurance policy.
It Only Takes a Call
Blue Country Insurance – all your protection under one roof… because your health and life matters.