SIMPLIFIED LIFE INSURANCE: QUOTES, SAMPLE RATES, AND EXPERT TIPS

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Why Choose LSM Insurance For Simplified 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 Simplified Issue Life Insurance or have questions?
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What is simplified issue life insurance?

Simplified Life Insurance (or also called Simplified Issue Life Insurance) is a type of No Medical Life Insurance that comes WITHOUT medical exams but STILL CAN HAVE SOME QUESTIONS that you need to answer. An applicant has reply these truthfully. Simplified issue life insurance offers premiums higher than Standard Life Insurance (also called Traditional Life Insurance) but lower than Guaranteed Life Insurance and higher levels of insurance protection.

Simplified Life Insurance is often seen as the least expensive type of No Medical Life Insurance. It has some limitations on maximum insurance coverage limits, and the benefit typically ranges from $100K to $500K.

IMPORTANT: It is important to understand if your policy comes with an “immediate claim payouts”. An immediate claim payout means that an insurance claim can be submitted even if a policyholder passes away immediately after getting a life insurance policy. A policy with “deferred payouts” will not pay a death benefit within the first one or two years. These options depend on the policy’s specific conditions, and these options also affect the premium.

 

Interested in Simplified Issue Life Insurance or have questions?
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When do you need simplified life insurance?

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

  • You have no significant health pre-conditions but you do not want to take medical tests
  • You have some pre-existing health pre-conditions and you are not sure if you would qualify for Standard Life Insurance
  • You have some pre-existing health pre-conditions and you do not want to take medical tests

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

 

How does simplified life insurance compare to other products?

Here is a brief comparison of how Simplified 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 Simplified Issue Life Insurance or have questions?
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What are simplified life insurance quotes?

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 Simplified Issue Life Insurance or have questions?
Please complete the form above.

 

Can you get life insurance without a physical exam

Yes, you can get life insurance without a physical exam. This type of insurance is called no medical life insurance. It comes either with a medical questionnaire (simplified life insurance) or without any questions asked (guaranteed life insurance). No medical life insurance coverage limits are lower than traditional life insurance and a no medical life insurance policy costs more (for the same amount of coverage).

 

What is no medical life insurance?

No medical exam life insurance is a type of life insurance that does not require medical tests (also called simplified issue life insurance). Some no medical life insurance types go even further and do not even require a medical questionnaire (also called guaranteed issue life insurance).

This is a great insurance choice for those who would not be approved for traditional (also called standard) life insurance, which comes with medical tests and a questionnaire to complete. Our insurance experts will help you with all of your no medical life insurance choices.

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