No Medical Life Insurance and COVID-19

Assumption Life
BMO Life Assurance Company
Canada Life Insurance Company of Canada
Canada Protection Plan
CIBC Life Insurance
Costco Insurance
Cumis Life Insurance
Desjardins Financial Security Life Insurance
Empire Life Insurance Company
Equitable Life Insurance
Foresters Canada
Industrial Alliance Financial Group
La Capitale Life Insurance
RBC Insurance
Specialty Life Insurance (SLI)
SSQ Life Insurance Company
UV Insurance
Wawanesa Life Insurance Company

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    Term 1
    #1 Independent MGA in Canada
    Term 2
    15 offices across Canada, 220 dedicated employees
    Term 3
    $6B in managed assets
    Term 4
    56,000 applications processed per year

    Being able to find affordable life insurance solutions without a medical is now more important than ever, given the COVID-19 pandemic. Also insurance companies have adjusted their processes to simplify life insurance approvals during the pandemic. As a trusted partner, LSM Insurance has been offering no medical life insurance solutions to Canadians for over 25 years. This insurance is available in three different types of policies:

    • Guaranteed issue insurance is the most expensive and the most limited type of no medical life insurance, insuring people regardless of health and with no health questions. The downside is that the premiums are more expensive, and the benefit amounts are limited.
    • Simplified issue insurance also comes with no medical tests but there is a short list of health and lifestyle questions. The more questions you can answer with “no,” the better your premiums.
    • Fully underwritten no medical plans are insurance plans which are available at great rates and normally require a medical exam, but now they are available without a medical test, especially during the COVID-19 pandemic. The amount of coverage available depends on your age and the carrier you select.  So, working with an independent broker who represents multiple insurers is crucial. 

    Interested to find out more? Complete the form below for a free quote / no obligation inquiry.

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