Top Simplified Issue Life Insurance Plans In Canada

What Simplified Issue
plan will you choose
Credit: cbarbi

Simplified Issue life insurance is available without a medical, but unlike Guaranteed Issue, there are some health questions. Simplified Issue life insurance plans have anywhere 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.

Below is a snapshot comparison of the top Simplified Issue life insurance plans in Canada. On all of the plans except Wawanessa Life, coverage takes effect from day one:

1. Assumption Life Golden Protection. Coverage starts from day one with Built-in and paid guaranteed cash values.  The plan insures applicants up to age 85. It also includes multi-life discounts and is very well priced among applicants over 50. There's a face amount up to $50,000.00.  The plan pays out double in the event that the insured dies by accident. $25,000.00 of coverage for a 55-year-old, female non-smoker is $65.57 a month.

2. Canada Protection Plan Simplified Life Underwritten by Unity Life. The plan is available in a life-pay option or a 20-pay option. There's 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.

3. Wawaneesa Life Final Expense Plan. With only five health questions, the policy is paid up after 20 years or at age 85. There's an automatic loan provision available in year three. The death benefit on this plan is limited to a return of premium (plus interest) in the first two policy years. No discount is available to non-smokers. $25,000.00 of coverage for a 55-year-old, female non-smoker is $89.44 a month.

4. Industrial Alliance Perspective.  Features a multi-life discount with coverage available from day one. There's discount for non-smokers and face amounts are limited to $35,000.00. Insulin diabetics do not qualify. $25,000.00 of coverage for a 55-year-old, female non-smoker is $72.05 a month.

You can get more details by visiting our website, by visiting our Non-medical Life insurance Quote Page, or contacting us at 1-866-899-4849.