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Get a no medical life insurance quote today or ask questions

    Why Choose LSM Insurance for no medical life insurance?

    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

    Sample no medical life insurance quotes

    Male, 35 years old, non-smoker, Term 20 Life Insurance, $200,000 coverage, serious diabetes pre-condition
    Best quote
    $62 / month
    Male, 50 years old, non-smoker, Term 20 Life Insurance, $200,000 coverage, average heart attack pre-condition (i.e. no recent heart attack)
    Best quote
    $179 / month

    Female, 35 years old, non-smoker, Term 20 Life Insurance, $200,000 coverage, serious heart attack pre-condition
    Best quote
    $49 / month

    No Medical Life Insurance: Expert Summary

    Lorne Marr from LSM Insurance shares his experience:

    “No Medical Life Insurance is exactly that – it’s life insurance that’s available without a medical (exam). Now, because it does not have a medical, there still are, generally, still some health questions. We have a guaranteed issue type policy where there are no health questions but that’s really limited to people with very severe health issues and then there is Simplified Issue which also has no medical tests but has a series of health questions and a key point with a No Medical Life Insurance with Simplified Issue policy is that you wanna find a plan that’s best for you and you wanna find a plan that offers you the best overall coverage.

    So, if you someone who can qualify for a plan and answer “No” to 15 or 20 questions, that’s gonna provide you with a lot better plan than if you can only answer “No” to 5 or 6 questions. So, that’s where a broker can really come in. They can find the best No Medical Life Insurance policy for your specific needs and that’s gonna result in you getting a lot more coverage at a lot lower premium.

    As a side note, a lot of the carriers have really upped the issue limits on No Medical Life Insurance policies, so now you can get a lot more coverage than you were able to years gone by.”

    Interested in No Medical Life Insurance or have questions?

    What is no medical life insurance?

    No medical life insurance is a type of life insurance that does not require medical tests. Some no medical life insurance types go even further and do not even require a medical questionnaire.

    This is an ideal type of insurance for those who would not be approved for traditional (also called standard) life insurance that comes with medical tests and a questionnaire to complete.

    The drawbacks of no medical insurance are lower insurance coverage and more expensive premiums when compared with the premiums for the same coverage of a traditional life insurance policy.

    How Does No Medical Life Insurance Work?

    No medical life insurance works a bit differently depending on its type. Below we will look at each type.

    Let’s start with simplified issue life insurance. It requires the completion of a short questionnaire. Once successfully completed, your application will be approved by an insurance company (assuming there were no reasons to decline you, as per the questionnaire) and you are covered. Here is how it would look.

    Another type of no medical life insurance comes with even less work and does not require completion of any questionnaire. This is guaranteed issue life insurance, but the coverage does not start immediately after approval. It starts after a waiting period of two years have passed. Here is how it would look.

    Just for comparison, we show what the same process looks like for a standard life insurance policy. It is more complex, includes completing a long questionnaire (multiple pages), requires a medical exam and has an extensive underwriting process during which an insurance company can request additional documents from you or your doctor.

    When do you need no medical life insurance?

    There several cases when you might consider no medical life insurance:

    1. You have a serious a health (e.g. diabetes) or fitness (e.g. overweight) pre-condition that does not allow you to qualify for a standard life insurance policy.
    2. Your age is an obstacle in getting a traditional life insurance policy because some policies only cover their policy holders up to a particular age.
    3. A medical exam is not something you want to go through due to personal reasons.
    4. You want a “quick” insurance solution that offers a small amount of coverage without any delays.
    Interested in No Medical Life Insurance or have questions?

    What types of no medical life insurance exist and how do they compare?

    No medical life insurance comes in a few forms:

    A simplified issue no medical life insurance policy does not require a medical exam, but still requires answering a medical questionnaire.

    A guaranteed issue no medical life insurance policy does not require a medical exam or a medical questionnaire.

    These policies offer various levels of coverage and have a waiting period before you can make a claim.

     Standard (Traditional) Life InsuranceSimplified Issue Life Insurance (No Medical)Guaranteed Issue Life Insurance (No Medical)
    Coverage amount (Maximum)Up to $5,000,000Up to $300,000Up to $25,000
    Medical ExamYesNoNo
    Medical QuestionnaireYesYesNo
    Waiting period (no claim is paid during this period)NoneEither none or 1-2 years (depending on a policy)2 years

    No Medical Life Insurance: Advantages and Disadvantages

    As with any type of insurance, no medical life insurance comes with some pros and cons. Let’s take a closer look.

    ⦁ Does not require a medical exam. No fluids or lab work is required and there are no medical appointments needed.
    ⦁ Does not have a very long questionnaire, unlike what is seen on a standard life insurance policy.
    ⦁ One type of no medical life insurance, guaranteed issue life insurance, does not have any questionnaire at all – everybody qualifies.
    ⦁ Ideal for people who have serious health pre-conditions and cannot qualify for standard medically underwritten life insurance.
    ⦁ Comes at a higher price than standard life insurance for the same amount of coverage.
    ⦁ Coverage amounts are limited. For example, ~$300,000 for simplified issue policies and ~$25,000 for guaranteed Issue policies.
    ⦁ Guaranteed life insurance come with a two year waiting period (a claim will not be paid if a policyholder were to pass away from illness during this time, but premiums are returned to the beneficiary).

    Can I Get Life Insurance if I Have Health Concerns or Pre-Existing Conditions?

    Yes, no medical life insurance is a product that has been developed specifically for those who have serious health concerns or pre-existing conditions. It is important to know, however, that even if you have some health pre-conditions, in many cases you will be able to qualify for an underwritten rated policy. This means, you still need to do an exam and the traditional questionnaire. The cost of the policy, if approved, will be higher than standard rates, but likely lower than no medical rates. Our experienced life insurance brokers can guide you through this decision process and provide the necessary guidance.

    Common Mistakes When Getting No Medical Life Insurance

    There are a few mistakes related to no medical life insurance, as summarized below:

    1Going immediately for no medical life insurance without exploring all the options of standard insurance.In many cases, rated medically underwritten life insurance might be a better choice even if you have a medical pre-condition. It would come at a better cost and offer more extensive coverage than no medical insurance.
    2Applying for standard life insurance and being declined before considering no medical life insurance.Some simplified issue life insurance questionnaires ask if you were previously declined a life insurance policy, which will not be in your favour. The solution is to talk to an experienced insurance broker about your situation before doing a full application. A broker might be able to get a pre-assessment for you and discover if you most likely will be accepted or declined for a standard life insurance policy. If this assessment suggests you will be declined, you can apply for a simplified policy without being declined for an underwritten policy.
    3Going immediately for guaranteed life insurance without looking into simplified issue life insurance.Simplified issue life insurance is a better option than guaranteed life insurance (if you qualify) because it comes at a lower cost, has higher coverage and has just a short questionnaire to complete.
    4Thinking that all no medical life insurance policies are the same.Some no medical life insurance policies are a better fit for people with particular health concerns and pre-conditions since the questionnaire may not ask questions related to that particular pre-condition. It is crucial to work with a broker who is well versed across a broad range of no medical life insurance policies.

    What Can Disqualify You from No Medical Life Insurance?

    No medical life insurance comes in two forms: simplified or guaranteed.

    Nothing can disqualify you from getting guaranteed life insurance. However, it comes at a high cost and the life insured must not pass from an illness (can pass from an accident) within the first two policy years. If the policy holder does pass away from illness during the waiting period, the premiums are returned to the family.

    Some very serious health pre-conditions can disqualify you from getting simplified life insurance. Although there is no medical exam, simplified insurance policies come with a short questionnaire with a few health questions. Most people can qualify for simplified, except in some cases of serious or prolonged illness. Our experienced life insurance brokers are very knowledgeable with all types of no medical life insurance and are happy to help you find the best policy for your situation. Our brokers can preview application forms to select the one that will most likely be successful for your needs and your budget.

    What are the most frequent no medical life insurance myths?

    1. If I have a health pre-condition, no medical life insurance is my only option.
      This is incorrect. Often, you can still apply for standard life insurance or rated traditional life insurance (same coverage but higher rates). For example, many people with diabetes still qualify for this type of insurance.
    2. No medical life insurance always comes without any medical exams or questions.
      This is incorrect. Only guaranteed issue no medical life insurance comes without a medical exam and questionnaire. A cheaper version of no medical life insurance (that also offers more extensive coverage) still requires answering a medical questionnaire, though it does not require a medical exam.
    3. Once you’ve purchased a no medical life insurance policy, you are automatically covered.
      Not always; it depends on the policy. Some simplified issue insurance policies will cover you immediately, others may have a deferred coverage for 1-2 years. A guaranteed issue insurance policy typically comes with a two-year waiting period.

      Should you have any other questions about no medical life insurance, our specialists are happy to help.

    No Medical Life Insurance FAQ

    ‍Is No Medical Life Insurance Worth It?

    The correct answer is, it depends. This insurance is worth it when you need a life insurance coverage but cannot qualify for standard life insurance for a variety of reasons (health pre-condition, dangerous job, fear of medical exams, etc.). In this case, no medical life insurance, especially, simplified issue insurance offers a good alternative.

    What is the Waiting Period in Life Insurance?

    The Waiting period in life insurance is the time during which an insurance policy will not pay out a claim to the beneficiaries but will return the premiums that were paid. The purpose of the waiting period is to discourage people who are terminally ill from getting a life insurance policy that will be cashed out soon after being purchased.

    Are All No Medical Life Insurance Policies the Same?

    No, because no medial life insurance policies come in different forms, especially as related to simplified life insurance policies. Some companies will have shorter questionnaires whereas others will have longer ones with a different set of questions. Depending on your situation, some providers’ no medical life insurance products might be suited better for you than others. There might also be a significant difference in pricing. This is why we recommend working with an insurance broker who is knowledgeable in no medical life insurance products across multiple providers. Our brokers work with more insurance partners than most other insurance broker firms in Canada.

    What is a Guaranteed Acceptance Life Insurance?

    Guaranteed acceptance life insurance is another name for a guaranteed life insurance or, as insurance companies call it, guaranteed issue life insurance. This insurance comes without any medical tests/exams and has no questionnaire, so everybody can qualify. However, it comes at higher cost than any other policy and has a two year waiting period.

    Interested in No Medical Life Insurance or have questions?

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