Hello I'm looking for life insurance policy in Canada that: 1) Requires no medical exam, 2) Can be paid up in 10 years or less and, 3) May be purchased without going through a broker. Thanks for your help

Thanks for the question. In term of a no medical life insurance options. You can choose between Guaranteed Issue (no health questions and no medical tests) and Simplified Issue (3 to 12 health questions and no medical tests) Simplified Issue plans have lower premiums, higher face amounts and can provide coverage from day one. Guaranteed Issue plans have a two year waiting or longer on non accidental deaths. Most direct suppliers of No Medical Life Insurance plans offer Guaranteed Issue plans and non that we are aware of are paid up in 10 years.

Is there a certain amount of time a policy needs to be in effect before full death benefits are paid?

Most life insurance policies in Canada pay out from day one - except in instances of suicide or if their is meaningful non disclosure on the application. Guaranteed issue policies (no health questions and no medical tests) have a 2 year waiting period on the death benefit and some Simplified Issue policies (3 to 12 health questions and no medical tests) have a two year waiting period on the death benefit.

Can a former spouse buy and pay for an insurance on the life of her former husband, on whom she does not depend financially? (This is in Ontario, Canada)

There has to be an insurable interest and the insured always has to sign the application and answer any necessary health and lifestyle questions

If a person has quit smoking for a year, does it make a difference in the annual premium.

Yes non smoker rates are significantly less than smoker rates