GUARANTEED LIFE INSURANCE: QUOTES, RATES, AND EXPERT TIPS

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Want to find out more about Quaranteed Life Insurance?


Why Choose LSM Insurance For Quaranteed Life Insurance

  • We work with experienced and reputable independent brokers across Canada
  • LSM Insurance is one of the most respected life insurance brokerages in Canada
  • We work with more life insurance companies than the majority of brokers (15+ insurers)
  • We have been serving Canadians for over 25 years

LSM Insurance is accredited by:


Customer testimonials

 
Wade Rumbolt:
 

I wanted to express my sincere gratitude for the way you and your team handled my wife’s death claim on her insurance policy. It is my belief the measure of an insurance broker is his/her responsiveness at a time of need. When my wife passed away I contacted your office and you treated my claim as a top priority. You returned my call immediately to get the claim process started and provided a clear and concise summary of what documents were needed to have the policy pay out as quickly as possible. You walked me through every step of the process and I sincerely thank you for being so available, attentive and courteous during such a challenging period in my life.

 
Lewis W. Best:
 

I really appreciate all the hard work Andrew Burdi and LSM Insurance have done for me. I had been insured with a company for years and only recently learned it was term insurance, I had no idea what that meant. Andrew took the time to visit me at my home at a time convenient to me. This cost certainty is crucial for me given I am on fixed budget. If anybody is considering purchasing personal insurance I would most definitely use LSM Insurance and ask for Andrew Burdi, because he really knows his stuff. Thanks again for setting it straight for me Andrew, you are most appreciated.

 
Real & Dorothy Duteau:
 

LSM Insurance team was highly recommended for our insurance needs and our first meeting confirmed what we were looking for: integrity, honesty, competency and affordable products. Also throughout the process, the LSM Insurance team kept us informed on the status of the application and was involved in clearing all obstacles. This is what we really appreciated, as their follow-up was 110%. With this kind of service and dedication, there is no doubt that we will be with LSM Insurance for the rest of our lives.

 
Pastor Doug McClain:
 

From our first meeting, I understood that Aman knows his profession that he represents. He is very thorough and explained the solutions really well in addressing my needs. I found him to be a good person to do business with- very friendly. He relates to people very well and I enjoyed his presence. I would consider Aman to be highly recommendable.

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.

 

What is guaranteed life insurance?

Guaranteed Life Insurance (or also called Guaranteed Issue Life Insurance) is a type of No Medical Life Insurance that comes WITHOUT medical exams and WITHOUT medical questions that you need to answer. Everybody can qualify for this insurance type. Guaranteed Issue Life insurance premiums significantly higher than any other life insurance rates.

Simplified Life Insurance is often seen as the most expensive type of No Medical Life Insurance. It has some limitations on maximum insurance coverage limits, and the benefits go up to $50,000.

IMPORTANT: It is important to understand that guaranteed issue life insurance policies come with “deferred payouts” meaning that these policies will not pay a death benefit within the first one or two years.

 

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.

 

When do you need guaranteed life insurance?

There are numerous reasons when it makes sense to consider Simplified Issue Life Insurance. Typically, they are following:

  • You have to get a policy as quickly as possible and have not time to take medical tests
  • You have serious pre-existing health pre-conditions and you are not sure if you would qualify for Standard Life Insurance
  • or even Simplified Life Insurance
  • You have tried to apply for various life insurance policies before and have been declined.

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.

 

How does guaranteed life insurance compare to other products?

Here is a brief comparison of how Guaranteed Issue Life Insurance compare to other insurance products:

 

Standard Life Insurance

Standard Rated Life Insurance

Simplified Issue Life Insurance

Guaranteed Issue Life Insurance

Medical exam / fluids

Yes

Yes

No

No

Medical Questionnaire

Yes

Yes

Yes

No

Considered No Medical?

No

No

Yes

Yes

Coverage

Up to $20,000,000

Up to $20,000,000

Up to $500,000

Up to $50,000

Waiting period of 2 years

No

No

Maybe

Yes

Life insurance rates

The cheapest rates

More expensive than Standard Life Insurance

Less expensive than Guaranteed Issue Life Insurance

The most expensive rates

 

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.

 

How much does guaranteed life insurance cost?

Below are a few examples of different 20 year life insurance rates/quotes. It is important to remember that any life insurance quote depends on multiple factors and may vary from person to person (e.g. based on your health condition).

20 Year Term Life Insurance quote

Female, 35 years old, 20 Year Life Insurance Term, Non-Smoker, coverage amount $1,000,000

Rate: $47 / month

20 Year Simplified Term Life Insurance quote

Female, diabetes pre-condition, 35 years old, 20 Year Life Insurance Term, Non-Smoker, coverage amount $500,000

Rate: $32 / month

20 Year Guaranteed Term Life Insurance quote

Female 35 years old, cancer diagnosis, 20 Year Life Insurance Term, Non-Smoker, coverage amount $300,000

Rate: $223 / month

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.

 

How does guaranteed whole life insurance work?

When you buy Guaranteed Issue Life insurance (e.g. if you have serious health pre-conditions), you do not need to worry about any medical exams or medical questions. Your guaranteed issue life insurance rates will be higher than for any other life insurance types due to a higher risk. It is important to know that if you pass away during the first two years, your life insurance policy will not pay a death benefit.

 

Who sells guaranteed life insurance?

Meanwhile, most life insurance companies in Canada offer Guaranteed Life Insurance policies including the largest insurers such as Manulife, Canada Life, Sun Life and many others and many smaller ones such as RBC Insurance, Canada Protection Plan (CPP), Empire Life, Assumption Life and many others

This is a great insurance choice for those who would not be able to qualify for other life insurance types. Our insurance experts will help you with all of your no medical life insurance choices.

Interested in Guaranteed Issue Life Insurance or have questions?
Please complete the form above.