Non-Medical Life Insurance: Simplified Issue versus Guaranteed Issue

One of the small annoyances that comes with buying a traditional life insurance policy is the required medical form you must fill out, especially since some people cannot qualify for those types of plans, but still want to ensure their family’s financial future. Well, don’t worry because there are plans out there that require no medical exam called Simplified Issue Policies and Guaranteed Issue Policies, but there are a few subtle differences between these two distinct plans, which you should be aware of before you buy.

Simplified Issue Life Insurance Policies

These are policies available without a medical exam, but they still have a host of health-related questions. You should also keep in mind that the face amount on these policies is often limited to $150,000 of coverage because it’s necessary for a life insurance company to set a maximum to cover potential losses.The chance of an insurance company receiving a claim for a life insurance policy that requires no medical exam is much greater than from a traditional policy.

Under traditional insurance plans, you complete a regular medical exam and (If you’re in very good health and your family has a very good medical history) you can be approved at preferred rates or standard rates. If you are deemed to have a health risk, you will be rated (charged extra) and, in those cases where your health risk is deemed too severe to qualify for the policy, declined.

Simplified plans give you the convenience and reduced hassle of being able to get coverage in a few days, without going through a medical exam.

Most simplified issue plans are not available if the insured has been declined in the last 2 years. As a rule of thumb, the more health questions on a simplified issue application, the lower the premium.

Guaranteed Issue Life Insurance Policies

These plans provide immediate insurance with No Health Questions, No Medical Exam and No Underwriting. They are available even if you have been declined in the last two years.

Most guaranteed-issue life insurance policies are designed to provide for final expenses. The face amount is often limited to $25,000 and the death benefit is generally limited to a return (including interest) if the insured dies in the first two years of the policy. However, if they die by accident, the plan pays out immediately.

You can find more information at our Non-Medical Life Insurance Page or feel free to contact me at 1.866.899.4849

avatar
Michele
Michele

I am 51 and 115 pounds.

Michele
Michele

I have been insulin dependent for 38 years. I also have a little Parkinson’s. Other than that I am fine. I do not smoke. How much would life insurance cost me?

Patti-Anne
Patti-Anne

Hi,
would like to speak to someone about simplified or guaranteed life asap.I was turned down because I had outstanding medical information and they did not want to wait to find out the results.i can send u my phone number.

Monica
Monica

Hi.
My husband and I would like to sign up for a life insurance. But he is weight is high. 350 lbs. And I am smoking and I weigh 195 lbs.
Can we still get an insurance? And what will it cover? And cost per month?

Syed Raza
Syed Raza

Hi Monica,
Thanks for the inquiry, I have sent you a separate email. Thanks

Lillian
Lillian

Thank you so much for having info for us. I’ve spent hours and hours looking for specifics. I converted from a group policy to an individual policy – a universal life policy – all my time with the agent was spent discussing the complicated investment options and then I signed the back page of the application. It’s a year later and I now notice the have you ever smoked box on the front page of the application was checked off ‘no’ which is not true and I KNOW I was never asked this question. He only asked me if I… Read more »

jsk
jsk

my mom has been diagnosed with als, is she still eligable for a policy?

Kimberly in Texas
Kimberly in Texas

We are needing life insurance for my husband. He is 42 y/o; survived a major stroke Sept 2001. He is taking blood pressure meds and cumadin. He is wheelchair dependent, but otherwise healthy. He was hospitalized for 2 months early 2010 for edema issues which are under good management now. Would he be suitable for any form of life insurance?
Thank you kindly for your time.

Ricky
Ricky

I am 38 year old single male and been diagonosed with HIV in Aug 2010. My immune system was normal, though i have started my medications. I am in reasonably good health without any other issues.

What life insurance options would be available for me in BC?

Mark
Mark

My partner was diagnosed with HIV back in 2006 (he is now 32). He started ARVs in 2009, is undetectable and has a very high and very good CD4/CD8 levels. He is very healthy, in fact, he is taking better care of himself now then ever and his doctor figures he will live a normal life span with the current ARV he is taking. We have been reading a lot about European coverage of HIV infected persons but in Canada is seems delayed. Do you have any thoughts or feedback on any companies who offer a good level of coverage… Read more »

John
John

Hello

My wife has a cronic blood disorder called thalasemia major. Would she qualify for simple or non medical insurance? What amounts?

37 years old
works full time

Thank you

Kendl
Kendl

I am a 25 year old female who smokes and weighs 330pds…could i get life/mortgage insurance for 200,000 or 150,000

Darlene
Darlene

I am enquiring about life insurance for my husband he was 73, Aug, 2010. He has high
blood pressure,with normal readings on our home monitor. He has 2 stents put in 8 years ago. Had no problems since. What kind of coverage is best.
for that? Thank you Darlene

Imee
Imee

Hello, my father is 81 yrs old and has hypertension with one maintenance medication only. He is very healthy though… What kind of life insurance can you advice for him? Please email me back. Thanks.

Imee

y.nielsen
y.nielsen

Hi – my mother is 73 and concerned she has no life insurance and whether she could get any? or whether we can for her and pay the premiums(she can not afford)? She is still working and has dibetes which is under control. She also takes a blood pressure pill. otherwise in good health. what could we get for her and what cost would there be for this? Much thanks for you help in advance!

Betty
Betty

I am a 45 year old woman, non-smoker, overweight but not obese. I was diagnosed with high blood pressure which is being treated with medication.
What are the going rates for me for guaranteed coverage for $25,000, and 50,000?

L Spencer
L Spencer

I am enquiring about life insurance for my husband. He will be 70 in August of this year. He has high blood pressure (this might be a case of white-coat hypertension as his blood pressure readings on our home monitor are normal), and was just diagnosed with non-insulin-dependent diabetes last month. His cholesterol levels are within normal limits, but he has been placed on medication to keep his cholesterol at a normal level due to the diabetes. Can you please tell me if he is eligible for life insurance given his health issues? Many thanks. L Spencer

R Steel
R Steel

I recently applied for (medically underwritten) insurance. I am 57 and (thought) I was in excellent health. After I had applied I received medical results from what I had thought was a minor issue suggesting that I might have a motor neuron disease, possibly even als. Needless to say this was disturbing. I decide to cancel the application because it would obviously be declined. I haven’t had the results confirmed yet but will have to sooner or later. I have some coverage and the new one would have replaced it so I decided to stay with what I had because… Read more »

LF
LF

My spouse and I have taken out policies with Manulife Non-Medical Life Insurance. Withdrawals for ….. and …. respectively were deducted this month, …. ….. We have not yet received our policies. In fact, I called your office earlier today and spoke to a gentleman who told me that the policies will be mailed this week. While I was on line, I read that these policies do not pay if either my spouse or I die within the first two years. We were not told this. Without a written policy we have had deductions without knowing all the details. Are… Read more »

Larry
Larry

I had bypass surgery 5 years ago and am 63. What would the rate be for 50,000 coverage