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BMO Insurance’s Simplified Issue Life Insurance Policy

No medical tests to qualify for any of these policies. BMO Insurance offers a simplified issue life insurance policy which is sold direct via their website and call centre. It is not available through a broker network. The policy is called the Easy One and is available to applicants ages 50 to 80. It comes in face amounts of up to $25,000. The plan provides lifetime protection and a discount for non-smokers. The policy also allows the insured access to a 24-hour professional ...
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Declined or Rated for Life Insurance: What are Your Options?

Update: Oct. 2, 2015 When this post was originally published, BGS had ceilings on coverage levels, $500,000 for the Life Protection and $3,000 per month for the Disability Protection. They have since been able to get those coverage limits removed. So applicants can now purchase as much coverage as they qualify for based on their income for Disability Protection and outstanding mortgage loan amount for Life Protection. If you ask Paula Cook, Certified Health Insurance Specialist and ...
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Guaranteed Issue Life Insurance Facts

Guaranteed issue life insurance has no medical exams or health questions. Update: Oct. 2, 2015 When this post was originally published, BGS had ceilings on coverage levels, $500,000 for the Life Protection and $3,000 per month for the Disability Protection. They have since been able to get those coverage limits removed. So applicants can now purchase as much coverage as they qualify for based on their income for Disability Protection and outstanding mortgage loan amount for Life ...
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Simplified Issue Life Insurance Facts

Simplified Issue life insurance can be obtained without a medical exam, but there are some health questions. The number of questions depends on the company and plan. The following are some additional simplified issue life insurance facts: 1. The policy may have a deferred benefit or an immediate death benefit.Simplified Issue policies that have fewer health questions generally come with a deferred benefit, meaning the death benefit will be limited to a return-of-premium plus ...
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Seniors’ Life Insurance: What to Watch Out For

Seniors looking into life insurance policies in Canada should carefully consider the following variables. 1. Should I buy direct or through a broker? At first glance, it seems that it would be much cheaper to buy life insurance policy directly from an insurance company rather than through an insurance advisor. However, most direct carriers of life insurance charge higher premiums than policies offered through insurance advisors. Moreover, the selection among direct providers of life ...
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No-Medical Simplified Issue Critical Illness Plan

Industrial Alliance offers two no-medical simplified issue critical illness plans. Both plans cover the following four illnesses: Cancer Coronary Artery Bypass Surgery Heart Attack Stroke Both plans are available without a medical exam to applicants aged 18 to 60. The minimum issue limit is $10,000, and the maximum issue limit is $100,000. (more…)
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Guaranteed Issue Life Insurance for Seniors

Update: Oct. 2, 2015 When this post was originally published, BGS had ceilings on coverage levels, $500,000 for the Life Protection and $3,000 per month for the Disability Protection. They have since been able to get those coverage limits removed. So applicants can now purchase as much coverage as they qualify for based on their income for Disability Protection and outstanding mortgage loan amount for Life Protection. Guaranteed issue life insurance provides life insurance without ...
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Industrial Alliance’s Two Permanent Simplified Issue Solutions

Industrial Alliance offers two simplified issue life insurance plans without a medical exam. The first plan, The Alternative, is available for individuals from 6 months to 80- years-old, and premiums are payable limited number of years depending on the applicant's age. The policy has a short series of health questions, and the premiums are guaranteed never to increase. The face amount is also guaranteed. The one caveat with the plan is that if a death occurs by non-accidental means ...
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Deferred Term Life Insurance Solutions in Canada

Deferred term life insurance policies mean that the insured is covered for the length of the term, but should death occur within the first two policy years, the death benefit payment is limited to a return-of-premium plus interest. The two primary deferred term policies providers in Canada are Industrial Alliance and Canada Protection Plan, underwritten by Foresters. Humania Assurance is another company which has made a big splash in the Simplified Issue market place. They offer ...
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Industrial Alliance: The Alternative

When it comes to no-medical life insurance for children and adults,Industrial Alliance offers a non-medical life insurance plan called The Alternative. The plan has no medical tests and a short series of health questions. It is available to applicants ages six months to 65-years-old and premiums are generally payable for twenty years. However, for applicants ages 66 to 74, premiums are payable until age 85, and for applicants 75 to 80, premiums are payable for ten years. The plan ...
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