What Is The Best No Medical Life Insurance in Canada?
This page provides general information about no medical life insurance. For some applicants, a fully-underwritten life insurance policy from PolicyMe makes a sensible, affordable alternative (though a majority of applicants don’t require a medical exam). All information provided here is for educational purposes only and should not be considered financial or legal advice.
What is no medical life insurance?
“No medical life insurance” refers to any life insurance policy that doesn't require a medical exam. There are two types of plans under the no medical umbrella:
- Simplified or accelerated issue life insurance requires no medical exam, but may include a short medical questionnaire.
- Guaranteed issue life insurance requires no medical exam or questionnaire.
Medical exams and questions are part of the underwriting process insurance companies use to assess risk. Think of it as a scale from the most thorough to the least thorough screening process: fully-underwritten is at one end, guaranteed issue life insurance is at the other, and simplified life insurance falls somewhere in between.
With no medical life insurance, even if you have pre-existing medical conditions or are concerned about the results of a medical exam affecting your eligibility, you can still secure life insurance protection for yourself and your loved ones.
Simplified and guaranteed issue life insurance are both types of no medical life insurance. Simplified life insurance requires a medical questionnaire but no medical exam; guaranteed issue life insurance requires neither.
Who is no medical life insurance for?
No medical life insurance can be a great option for Canadians with an urgent need for coverage, pre-existing medical conditions, or high-risk lifestyles, including:
- People with a family history of health conditions, such as stroke or heart disease
- People living with cancer or cancer survivors
- People who engage in extreme sports
- People who travel to high-risk destinations
- People with a history of dangerous driving or criminal behaviour
- Seniors from age 50-75
When you pass away, your beneficiaries will receive a one-time, tax-free death benefit. Depending on the amount of coverage you chose, said benefit can be used to cover everything from funeral expenses and estate taxes to living expenses.
The catch is, you may have to pay up to 4 times more to avoid a medical questionnaire, medical tests or a nurse visit.
How much does no medical life insurance cost?
No medical life insurance premiums can start at $40 per month or $150 per month, but that’s assuming you’re young (and female).
See, not only do insurance companies use underwriting to assess your risk of passing away, but they also use it to determine the cost of life insurance. Fully-underwritten policies are cheapest, guaranteed issue policies are most expensive, and simplified issue insurance fall somewhere in between.
Without a medical exam, insurance companies know very little about your health, so they tend to assume the worst. That’s why we recommend applying for a fully-underwritten policy first to see how much you could save.
Around 96% of Canadians qualify for the coverage they apply for at standard rates. It’s best to start by applying for a fully-underwritten policy; you can always apply for a simplified or guaranteed issue life insurance policy later.
Unless you’ve already been rejected, there’s no reason to apply for no medical life insurance except convenience. PolicyMe makes it easy to find fully underwritten term life insurance at an affordable price with a 100% online application process. You’ll get the best rates, and you typically aren’t required to take a medical exam!
No medical life insurance pros & cons
Pros:
Cons:
- Few insurance riders available
- Less coverage than fully-underwritten life insurance
- More expensive than fully-underwritten life insurance
- Most policies have a 2-year waiting period
Fully underwritten vs. simplified vs. guaranteed life insurance
Do I need no medical life insurance?
No medical life insurance is an attractive option because it foregoes medical exams and offers a simplified application process. With PolicyMe term life insurance, healthy Canadians can hold onto these advantages while enjoying the discounts of a fully-underwritten policy.
PolicyMe’s online application process typically doesn’t require a medical exam or extensive medical tests. It takes 20 minutes or less to complete the 26-item questionnaire, and you’ll know instantly if you’re approved, declined, or if we need further information (like a doctor’s note or nurse visit).
With a term life insurance policy from PolicyMe, you’ll be covered for 10-30 years with up to $5 million of coverage at a lower price than no medical insurance.
Pros:
Cons:
- A health exam may be required: A minority of PolicyMe applicants are referred for a medical follow-up, which may include an exam
- No whole life insurance: We believe most Canadians need life insurance for a specific time in their lives, so we don't sell whole life—but the option to convert your term policy to permanent life insurance is coming later this year
What is the best no medical life insurance in Canada?
We’ve reviewed over 20 of the best life insurance companies in Canada, and found Canada Protection Plan, Sun Life and UV Insurance to be the top contenders.
1. Best no medical life insurance in Canada: Canada Protection Plan
Our score: ★★★☆☆ (3/5)
Company profile: Canada Protection Plan (CPP) specializes in no medical life insurance, offering the largest number of simplified and guaranteed issue plans on the market. It holds an “A+” from the Better Business Bureau, an “A” financial stability rating from A.M. Best, but its no medical plans are much more expensive than comparable term life insurance policies.
Canada Protection Plan's two main categories of no medical life insurance plans are as follows:
Term life insurance
- Deferred Elite Term Life: Up to $350,000 in coverage. For people with serious health conditions.
- Simplified Elite Term Life: Up to $500,000 in coverage. For people with good health but with a high risk hobby or occupation.
- Express Elite Term Life: Up to $750,000 in coverage. For people in good health that need coverage within a day.
- Preferred Term Life: Up to $1,000,000 in coverage. For people in relatively good health.
- Preferred Elite Term Life: Up to $1,00,000 in coverage. For people in good health that don't need urgent coverage.
Permanent life insurance
- Guaranteed Acceptance Life: Up to $50,000 in coverage. Anyone who applies will be approved.
- Deferred Life: Up to $75,000 in coverage. Accumulates cash value.
- Deferred Elite Life: Up to $350,000 in coverage. For those with less-serious health conditions.
- Simplified Elite Life: Up to $500,000 in coverage. For those in good health.
Pros:
Cons:
- Expensive: Because it’s geared for applicants with serious health issues, guaranteed issue life insurance costs a lot
- Overpriced convenience: CPP advertises to healthy Canadians who want fast coverage, but you can apply for a fully-underwritten policy in just 20 minutes online
- Waiting period: Unless death is accidental, the death benefit is limited to a return of premiums if the insured passes within 2 years of the start of the policy
"They have a huge range of products and coverage amounts to choose from. They might not grant you the coverage or the terms you want, though." — Ivana Govedarica, Life Insurance Advisor
2. Runner-up: Sun Life Guaranteed Life Insurance
Our score: ★★☆☆☆ (2/5)
Company profile: Sun Life is one of the biggest life insurance companies in Canada with an “A+” financial stability rating from A.M. Best. Although it doesn’t specialize in no medical life insurance, its reputation all but guarantees the company will still be around when it’s time to collect a claim.
Sun Life Canada offers two no medical life insurance policies: Guaranteed Life Insurance and Sun Life Go Simplified Term Life Insurance. Neither one requires a medical exam and the Simplified Term plan asks just 3 medical questions.
Because it only offers $5,000-$25,000 of coverage, Sun Life Guaranteed Life Insurance is best suited to Canadians with serious health conditions who want to cover final funerary expenses. Sun Life Go Simplified Term Life Insurance offers up to $100,000 of coverage and is renewable until the age of 85, making it a better choice for healthy Canadians who want coverage fast.
Sun Life guarantees your premiums will remain the same throughout your life (or during the first 10 years for Term Life), but this isn’t as great as it sounds. Because you’re paying for the convenience of skipping a medical exam, your premiums will start high and won’t ever come down.
Pros:
Cons:
- Few benefits: Only 1 complimentary rider (Living Benefit)
- Few options: Sun Life Go Simplified Term Life Insurance is only available for terms of 10 years and for coverage up to $100,000
- Read the fine print: Sun Life Go Simplified Term Life Insurance can exclude you from coverage or your beneficiaries from collecting your death benefit depending on your health during application or the manner of your death
- Waiting period: Unless death is accidental, the death benefit of Sun Life Guaranteed Acceptance Life Insurance is limited to a return of premiums if the insured passes within 2 years
"There aren't a lot of coverage options. When compared to other no medical life insurance companies on the market, it doesn't hold up." — Ivana Govedarica, Life Insurance Advisor
3. UV Insurance Simplified Issue Life Insurance
Our score: ★★★★☆ (4/5)
Company profile: UV Life Insurance is a small Québecois life insurance company specializing in group life insurance (the kind you get through work). Its simplified issue life insurance plans are relatively new but optimized for quick, convenient coverage.
UV Life Insurance offers Canadians the choice to take a simplified, no-medical-exam-required approach to 14 products, including term life and whole life insurance.
Simplified Issue Express applies to plans with $150,000 of coverage or less, including whole life, terms from 10-30 years, and child life insurance. Simplified Issue Immediate applies to Term Superior+ plans of 10-30 years with coverage from $150,000-$499,999.
Neither process involves a medical exam, but UV Insurance may request your file from the Medical Information Bureau (MIB). The MIB is a non-profit association providing insurance companies with short, coded reports on an applicant’s health status and past risk-taking behaviours, such as driving accidents or criminal misconduct.
Pros:
Cons:
- Low coverage: UV Insurance caps coverage at half a million dollars, which is only available to applicants age 18-45
- No guaranteed issue life insurance: UV Insurance may reject applicants depending on their answers to a 15-item questionnaire
- Long application: No online quotes or applications; applications must be completed by mail or over the phone
4. Empire Life Guaranteed Life Protect
Our score: ★★★★☆ (3.5/5)
Company profile: Empire Life is a century-old Kingston-based company offering three no medical life insurance policies. It holds high ratings for financial stability and was among the top 10 insurance companies in Canada based on assets.
Empire Life’s Guaranteed Life Protect is a permanent, guaranteed issue life insurance policy requiring no medical exams or questions. It has a two-year waiting period, a guaranteed cash value after 5 years, and the option to stop paying premiums (in exchange for reduced coverage) after 8 years.
Meanwhile, Simplified 10 and 20 Term Life Insurance has no waiting period and no requirements except a short medical questionnaire. Starting at $16.20 per month for $250,000 of coverage for a 35-year-old applicant, it’s fairly affordable, but not the best rate we’ve found.
Pros:
Cons:
- More expensive: Empire Life’s no medical life insurance isn’t as competitively-priced as comparable products, and your premiums will climb every time your Simplified 10 or 20 Term Life Insurance renews
- Not convertible: Simplified 10 and 20 Term Life Insurance can’t be converted to permanent life insurance at any point
- Not customizable: Empire Life offers no riders for either of its no medical plans
- Waiting period: Unlike other life insurance companies, Empire Life will only return the premiums paid if the insured dies of natural causes (and not by accidental means) within two years of the policy start date
How much life insurance coverage can I get without a medical exam?
Depending on your age, the maximum coverage you can get without a medical exam is $1,000,000 for simplified issue life insurance and $50,000 for guaranteed issue life insurance. For example, PolicyMe’s term life insurance awards up to $1,000,000 of coverage if you’re 18-50, and up to $500,000 if you’re 51-60.
For further context, here’s an overview of every insurance company we’ve mentioned so far, (plus the largest companies in the country) and their no medical coverage details:
Can I be denied a no medical life insurance policy?
As the name suggests, guaranteed issue life insurance accepts every applicant, regardless of their age, health, and medical history. Simplified issue life insurance usually uses a short questionnaire to determine eligibility.
For example, the life insurance companies mentioned above may refuse applicants who:
- Cannot independently bathe, feed, dress, and otherwise care for themselves
- Exceed height and weight restrictions
- Have a history of driving accidents or criminal misconduct
- Have a history of suicide attempts
- Have been diagnosed with or experienced symptoms of cancer, epilepsy, congenital heart defects, and other medical conditions
- Recently completed a stay in a hospital, nursing home, psychiatric facility, or other health-related facility
- Recently experienced a heart attack, stroke, or an illness or injury that caused them to miss work for two weeks or more
- Recently underwent bariatric surgery
Even if you're approved, the no medical policy in question may include so little coverage and such high premiums that it doesn’t make financial sense to take on. What’s the point of paying for a policy that doesn’t meet your life insurance needs?
Next steps: ready to start looking for life insurance?
- Assess your familial and financial situation to determine how much life insurance you need.
- Use a life insurance calculator to find the right amount of coverage for you.
- Decide between term life or permanent life insurance.
- Shop around to compare companies and find affordable life insurance quotes.
FAQ: Best no medical life insurance in Canada
You need facts, not fluff. Our goal is to provide you with honest, trustworthy information to help you make informed decisions. While our content is created with insurance experts, it is for educational purposes only and should not be considered definitive professional financial advice.
We recommend seeking the counsel of a licensed financial advisor before making any decisions regarding insurance or personal finance.
The prices listed in this article have been researched and fact-checked with both internal and external sources. Prices are based on publicly available rates.
Want to learn more about other life insurance options? Here are more reviews of Canadian life insurance companies:
- Best life insurance in Canada
- Biggest life insurance companies in Canada
- Best bank owned life insurance
- Best term life insurance in Canada
- Best whole life insurance in Canada
- Assumption life insurance review
- American Income life insurance review
- Beneva life insurance review
- Canada Protection Plan life insurance review
- Costco life insurance review
- Desjardins life insurance review
- Equitable life Insurance review
- Foresters life insurance review
- Humania life insurance review
- Industrial Alliance life insurance
- Ivari life insurance review
- Manulife life insurance review
- PolicyMe life insurance review
- Primerica life insurance review
- UV life insurance review
Our mission is to empower Canadians to make informed financial decisions. To achieve this, we have an expert editorial team that includes licensed insurance advisors and financial planners. We prioritize the best interests of Canadian families and won't endorse any product, company or financial strategy that we believe isn't suitable. Our educational guides are crafted by in-house experts, like licensed life insurance advisors. Before publication, we subject our research and advice to scrutiny and comprehensive revisions for accuracy and completeness.
Our mission is to empower Canadians to make informed financial decisions. To achieve this, we have an expert editorial team that includes licensed insurance advisors and financial planners. We prioritize the best interests of Canadian families and won't endorse any product, company or financial strategy that we believe isn't suitable. Our educational guides are crafted by in-house experts, like licensed life insurance advisors. Before publication, we subject our research and advice to scrutiny and comprehensive revisions for accuracy and completeness.