Guaranteed Issue Life Insurance


There are some very important pluses and minuses with Guaranteed Issue Life insurance.

When it’s a fit, it’s a perfect fit. If you can qualify for other forms of life insurance, Guaranteed Issue Life Insurance is always more expensive.

Here’s the kind of person who should be look at Guaranteed Whole Life Insurance – which is a no medical life insurance plan with no medical tests and no health questions.

  • you are already ill with a recently diagnosed serious medical condition, for example cancer and unable to qualify for other types of life insurance.

There’s a distinction between two kinds of no medical life insurance policies, guaranteed issue and simplified issue both are available without a medical.

Simplified issue no medical policies ask between 3 to 12 health questions if you are really sick these type of plans will likely not be a fit. Some of the leading simplified issue life insurance carriers include Assumption Life,  Canada Protection Plan, Industrial Alliance, Wawanessa and Equitable Life.  BMO Insurance and Manulife Financial offer direct versions of these policies which bypass their broker network.

What we recommend those with health issues first look at simplified issue life insurance and if you can’t qualify look into a pure guaranteed issue life insurance policy where there are no questions asked at all.

The downside with guaranteed issue life policies are they are expensive and offer very small coverage amounts.  Guaranteed issue life policies also have a limited death benefit. Meaning if the insured passes away in the first two years by a non accidental death the payout is limited to a return of premium.  Some guaranteed issue life insurance policies have an interest component attached to the return of premium feature whereas others don’t.

Guaranteed issue life insurance is heavily marketed by many direct insurance providers as it is a high profit product often targeting seniors who could otherwise qualify for simplified issue life insurance or traditional life insurance policies.

Our non medical life consumer report compares guaranteed issue and simplified issue policies in available in Canada

Try our free online quote for guaranteed issue life insurance.

Photo courtesy of George Eastman House.

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What Clients Say About LSM

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  1. Ramon Thompson 12/16/2009 at 1:29 am

    I saw an add on TV about BMO life insurance with monthly installments for as low as $5.00 a month. I would like to know more about this please. I would appreciate an email on any update regarding my query.

  2. LSM Insurance 12/16/2009 at 12:13 pm

    Hi Ramon,

    Thanks for the note. The above plan is sold directly by BMO and comes in five premium installments $20, $30, $45, $60 and $75 a month. The coverage amount will depend on your age and gender and the death benefit is limited to a return of premium in the first 2 years by non accidental death.

  3. Monika 01/10/2010 at 6:44 pm

    I would like Guaranteed Life Insurance for my mother. She is 82 and has dementia. What would our rates be for her (as i do’t see a rate schedule). Please advise us. Thanks.

    M. Konefal

  4. LSM Insurance 01/11/2010 at 12:08 pm

    Hi Monica,

    This will be challenging. Non medical plans break down into two categories 1) Guaranteed Issue – no medical tests and no health questions and 2) Simplified Issue no medical tests and health questions

    You mother is unfortunately two old for the guaranteed issue plan. She may qualify for the simplified issue plan depending on when she was diagnosed with the dementia.

    Regards … Lorne

  5. Brian 01/12/2010 at 3:03 pm

    would like some life insurance( Universal ), for life would like to pay about $150.00 a month how much can i get for this kind of monthly payment ?
    thanks Brian

  6. LSM Insurance 01/12/2010 at 3:39 pm

    Hi Brian,

    Thanks for the note. The premiums would be based on your age and smoking status. Most guaranteed issue plans have a cap of $25,000 coverage and are available as Whole Life and not Universal Life plan.

    I will send you a separate email with more details now.

    Regards …

  7. Robert Demain 01/16/2010 at 12:38 pm

    Insurance quotes please male – smoker- age 74

  8. LSM Insurance 01/17/2010 at 10:13 am

    Hi Robert,

    Thanks for the note. I will send you a separate email. It would be worthwhile seeing if you qualify for a simplified life plan (no medical test and anywhere from 3 to 12 health questions) Simplified life plans have higher face amounts, lower premiums and coverage can start from day one.

    Regards …

  9. Evangeline 01/20/2010 at 9:28 am

    My mom is 66 years old no history of anything except high blood pressure, is a guaranteed issue plan the right thing for her.

    Please advise.


  10. LSM Insurance 01/20/2010 at 1:52 pm

    Hi Evangeline,

    Thanks for the note. Your mother would be much better off with a simplified life plan (no medical tests and some helth questions) or a traditional life insurance plan (health questions and medical tests)

    Guaranteed Issue life insurance is best suited for applicants with no other life insurance options. Regards … Lorne

  11. Trudie 03/27/2010 at 7:47 pm

    My companion is 62 yrs. Male, Operated Dec 9/09 and had Cancerous Bladder and Prostate Cancer removed. As of this date Drs say he has no more cancer. No treatment was required. He is a smoker, but from Mar 2 till present he has not smoked. He is hospitalized. Problems with Diahreah. Can you advise me what insurance is best for him, what would premiums be, and what is the wait time, before payment is made, should he pass away. Pls send this to my e-mail. And he is aware that I am doing this for him. Thank You

  12. LSM Insurance 03/28/2010 at 10:57 am

    Hi Trudie,

    Thanks for the note. BMO, Manulife and The Edge all have guaranteed issue plans which your companion would qualify for. Thanks … Lorne

  13. Bobby 04/15/2010 at 8:01 pm

    I would like insurance quote for my parents. Father is 77, non-smoker (will not qualify for simplified life plans). Mother is 70, non-smoker, no health issue.

  14. LSM Insurance 04/16/2010 at 8:19 am

    Thanks for the note. We are happy to assist- I’ll send you a separate email now. Regards … Lorne

  15. David 06/14/2010 at 11:28 am

    I am looking to purchase some additional life insurance for my 73 year old ill mother. I have power of attorney which may be required?
    She has had heart surgery to repair her aorta in 1996 and takes Plavix. She has also had 2 strokes (1998 & 2009) and is currently in a rehabilitation hospital (St. Peters, Hamilton Ont.) awaiting for a room in a nursing home. I am obviously concerned with final expenses and the policy she has only covers $4600 through AIG.
    What are my options and at what cost?


  16. LSM Insurance 06/14/2010 at 11:44 am

    Thanks for the note. You’re mother may qualify for a simplified issue plan which provides more coverage at a lower rate than guaranteed issue coverage – we will send you an email now.

  17. Judy 07/25/2010 at 2:31 pm

    Hi I am looking to arrange life insurance for my husband, I am his POA he has been in a LTC home for the last two years with dementia, with no other health issues. Can you suggest what he may qualify for. Thank you

  18. LSM Insurance 07/26/2010 at 11:10 am

    Hi Judy,

    Thanks for the note. The Edge has a Guaranteed Issue policy that would likely be a good fit. We’ll send you an email now.

  19. Jim 02/22/2011 at 6:15 pm

    Hi. I have been recently diagnosed with HIV and am to start HAART treatment in a few weeks. The infection is only about 2 years old and other that my status, i am in perfect health. I am a non smoker, am 36 and i would need about 150,000$ of life insurance to cover the mortgage of a condo I recently bought before diagnosis. It this realistically possible ?

    Thank you

  20. LSM Insurance 02/22/2011 at 6:36 pm

    Thanks for the note Jim. If you were just diagnosed with HIV. It looks like a Guaranteed Issue plan would be your only option. The Edge offers a plan $25,000 is the maximum face amount. Manulife and BMO also offer Guaranteed issue plans available through their call centre.

  21. Deb 02/25/2011 at 6:00 pm

    My husband (57) was diagnosed with liver cancer in July/10 and the prognosis is 17 +/- months and we are wondering what life insurnace would be available for him.

  22. LSM Insurance 02/25/2011 at 8:29 pm

    Hi Deb,

    We are really sorry to hear that. The challenge will be the only coverage your husband will qualify for is a Guaanteed Issue. The death benefit on these plans is limited to a return of premium plus interest for non accidental deaths in the first two policy yeara.

  23. Louise 07/28/2011 at 6:50 pm

    how can I get garanteed life insurance. My husband has high blood pressure as well as hepetitis c and some heart problems. he is 48 years of age. thank you

  24. LSM Insurance 07/29/2011 at 8:24 am

    Hi Louise,

    Your husband may qualify for a Simplified Issue (no medical tests and 3 to 12 health questions)life insurance which offers lower premiums and higher face amounts than a guarantee issue policy. We will sen you a separate email now,

  25. Sylvia 01/18/2012 at 4:54 am

    Looking at The Guaranteed-Life Insurance Plan and wanted to know how much insurance of $25,000.00 would cost per month or any amount up to and including this amount??
    Thank you for your earliest reply.

  26. LSM Insurance 01/18/2012 at 10:14 am

    This would depend on the carrier.

    You may also want to want to look at a Simplified Issue policy No Medical Tests and 3 to 12 Health Questions.

    Simplified Issue policies have lower premiums and can alsopay out from day one. Guaranteed Issue policies have a 2 year waiting period on non accidental deaths. We will send you a separate email now. Regards,

  27. Gina 04/06/2012 at 8:00 pm

    Hi there,
    I think a simplified policy may be a good fit for my mother, age 76, non-smoker, and no life threatening illnesses. I would like more info on the questions. Thank you very much

  28. LSM Insurance 04/07/2012 at 10:44 am

    Thanks for the note. The rates will depend on the type of Simplified Issue plan and the face amount. We will send you a separate email now.

  29. Lisa 08/21/2012 at 6:59 pm


    I am looking for a life insurance plan for my sister who is HIV positive.

  30. LSM Insurance 08/22/2012 at 12:16 pm

    Thanks for the note. She would likely have to look at a Guaranteed Issue Type plan. The Edge offers up to $25,000 of coverage the death benefit is limited to a return of premium plus 10% interest if the insured dies of non accidental causes in the first two policy years.

    Bingham Group Services (BGS) offers Guaranteed Issue Mortgage Life Insurance which can cover the insured’s mortgage for up to $500,000 of coverage.

    You can call us at 1.866.899.48494 or email us at [email protected] for more details.

  31. John C 04/25/2013 at 3:05 pm

    I’m a broker does Assumption or IA have a Guaranteed Issue plan.

    My client had cancer and does not want any questions on the app.

    Thanks for your time. Cheers, John

  32. LSM Insurance 04/25/2013 at 3:19 pm

    Hi John,

    Assumption and IA have Simplified Issue -no medical tests and a few health questions but no Guaranteed Issue Plans. Having said that depending on when your client was diagnosed with cancer and if they have had a change in treatment they may qualify for a Simplified Issue plan.

  33. Louise 05/09/2013 at 2:06 pm

    What are the advantages to buying a term life insurance policy over other types of policies? Thank you

  34. LSM Insurance 05/09/2013 at 3:16 pm

    Thanks for the note. The advantage of a Term Policy is the rates start off lower so the insured can get a lot of coverage initially at a lower premium.

    The downside is the cost rises dramatically at the renewal. The longer the Term the higher the initial premium.

  35. Temal Sukhu 07/10/2013 at 1:56 pm

    So I know someone that had back surgery for a herniated disc in lower back still working and all is well what would be this persons options?

  36. LSM Insurance 07/10/2013 at 2:51 pm

    Thanks for the note. Depending on the medications and related issues they should qualify for a traditional life insurance policy and likely would not require a No Medical Plan – they could have a broker submit a preliminary inquiry..

    The premiums will depend on their date of birth, smoking status and type of plan.

  37. Ilyan 10/03/2013 at 12:33 am

    Can I get a Guaranteed Whole Life policy for someone 92?

  38. LSM Insurance 10/03/2013 at 10:09 am

    Thanks for the note. Unfortunately a plan would not be available for someone 92.

  39. Just Asking 11/09/2013 at 2:04 pm

    How can RBC and BMO say they are committed to their brokers and sell their plans direct to the pubic and by pass their brokers

  40. LSM Insurance 11/09/2013 at 2:13 pm

    It’s an interesting question. Many brokers share your thoughts.

    These 2 carriers may argue they have responsibility to create profits for their shareholders.

    I would be curious to see what % of their overall sales come from their direct life lines.

    As for pricing I think consumers in most instances are still far better off with Simplified Issue plans offered through brokers.

  41. Justin J 09/04/2014 at 5:04 pm

    Can I have a Guaranteed Issue plan if I already have a simplified issue plan. The plan I’m looking out still asks a smoking declaration. To me this is a health question

  42. LSM Insurance 09/04/2014 at 5:23 pm

    Thanks Justin. Yes you can have a Guaranteed Issue and Simplified Issue policy – as for the smoking question. The insurer would say this is a decaration and not a health question per say but I see your point.

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