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Key Takeaways
Simplified issue and guaranteed acceptance life insurance are two key types of no medical life insurance in Canada.
PolicyMe, Industrial Alliance, ivari, Assumption Life, and Empire Life offer some of the best simplified and guaranteed issue life insurance plans in Canada.
No medical life insurance is often more expensive than fully underwritten coverage, so it's usually worth applying for traditional life insurance first.
What is the best no medical life insurance in Canada?
No medical life insurance doesn’t require a medical exam to apply, making it easier for people with health issues to access coverage. The category covers simplified issue life insurance (which requires a health questionnaire and no medical exam) and guaranteed issue life insurance (which requires only basic info and no medical exam).
No medical life insurance tends to cost more, so we recommend applying for fully underwritten life insurance first. In return for providing more detailed health information, you could qualify for higher coverage and lower rates. Even if you’re rejected, it won’t affect your chances of qualifying for no medical coverage later.
If you’ve already applied for traditional life insurance and been declined, don’t give up! We reviewed 36 no medical life insurance policies to find you the most affordable and reliable ways to get covered without a medical exam in Canada.
PolicyMe’s rankings are based on an independent, data-driven review of Canada’s best life insurance products and providers.
Our analysis combines 450,000+ quotes for 95+ life insurance products with in-depth research on 25+ providers. Our star rating system assigns three stars for financial stability, one star for competitive pricing, a half-star for customer satisfaction, and a final half-star for ease of purchase.
Rankings are determined first by star rating and then by price. Our findings are entirely data-based and do not include paid placements, but should not be considered a substitute for personalized financial advice.
Since it requires no medical exam and only asks basic health questions, guaranteed issue life insurance is the most accessible coverage for people with pre-existing medical conditions. Insurance providers mostly look at your age, gender, and smoking status to determine your eligibility and premiums.
Because there’s so little health information involved in applying for guaranteed issue life insurance, most providers assume a high level of risk, i.e. that your health is poor. As a result, guaranteed issue life insurance can cost up to four times as much as life insurance with a medical exam.
One more thing to note: guaranteed issue life insurance is always permanent. With most policies, you pay insurance premiums until you turn 100, at which point your payments stop but your coverage continues for life.
Below, we rank the most competitive guaranteed issue life insurance policies and explore the pros and cons:
Company
Product
Rating
Premiums*
PolicyMe
Guaranteed Issue Life
★★★★☆ (4.0)
$111/month
Assumption Life
Bronze Protection (Deferred)
★★★☆☆ (3.5)
$127/month
Empire Life
Guaranteed Life Protect
★★★☆☆ (3.5)
$129/month
* For each product, we display the approximate monthly cost for a 60-year-old female non-smoker seeking a permanent life insurance policy with $25,000 in coverage.
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Quote Online
Buy Online
Cost 3% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Backed by Securian Canada and an A+ rating from A.M. Best, PolicyMe combines over 65 years of reliability with a customer-first approach. Guaranteed Issue Life Insurance makes it easy to budget for your family’s financial protection online or over the phone, and your premiums stay locked and level from the moment you get a quote.
Pros
$5,000 - $100,000 in lifetime coverage available
31-Day missed payment grace period
30-Day trial period
Buy online or over the phone
High Google review scores
No medical exam
Pay by credit card
Cons
Not well-suited for high-net-worth individuals looking for an estate planning tax strategy
Term Life Insurance
Coverage: $100,000 - $5 million
Term: 10-30 years
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Term 100 Life Insurance
Coverage: $10,000 - $5 million
Term: Lifetime
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Guaranteed Issue Life Insurance
Coverage: $5,000 - $100,000 (ages 18-70) or $50,000 (ages 70+)
Term: Lifetime
Medical exam: None
Access Life L100 by Industrial Alliance
Best guaranteed issue life insurance - #2
Industrial Alliance
(4.5)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Great for Seniors
Cost 5% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Access Life is divided into four coverage steps which determine premiums and maximum face amounts. Immediate Plus is the highest tier, as long as you're in fairly good health and have no signs of AIDS, HIV, cirrhosis of the liver, hepatitis C or kidney failure, you'll be eligible for the best rates and most coverage.
Pros
$10,000 - $500,000 in lifetime coverage available
$60 annual policy fee
Guaranteed cash surrender value starting in year 5
No medical exam
Option to stop premiums in return for reduced coverage starting in year 8
Premiums payable until age 100
Cons
Above-average rates for all ages and smokers
Limited coverage available
Phone call may be required to quote and purchase
Access Life Insurance
Coverage: $10,000 - $500,000
Term: 15-25 years or until age 100
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Pick-A-Term
Coverage: $10,000 - $10 million
Term: 10-40 years
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Genesis 10 Life Pay
Coverage: $100,000 - $10 million
Term: Lifetime
Features: Investment options
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IA PAR Estate Solution or Wealth Solution
Term: Lifetime
Features: Participating dividends
Guaranteed Life Protect by Empire Life
Best guaranteed issue permanent life insurance - #3
Empire Life
(3.5)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Cost 4% more
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Guaranteed issue life insurance is the most expensive protection on the permanent insurance market, and Guaranteed Life Protect carries above-average rates. It's a high price for a limited amount of instant coverage, so treat it as a last resort.
Pros
$5,000 - $50,000 in lifetime coverage available
Choice of reduced coverage starting in year 8
Guaranteed cash surrender value starting in year 5
Cons
$50 annual policy fee
Above-average rates for applicants above the age of 30 and smokers
Limited coverage available
No accidental death and dismemberment or waiver of premiums riders
Solution 10-30
Coverage: $25,000 - $20 million
Term: 10-30 years
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Solution ART
Coverage: $25,000 - $499,999
Term: 3 years
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EstateMax
Coverage: $10,000+
Term: Lifetime
Features: Participating dividends
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Optimax
Coverage: $5,000+
Term: Lifetime
Features: Participating dividends
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Solution 100
Coverage: $25,000 - $20 million
Term: Lifetime
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Term to 100
Coverage: $25,000 - $20 million
Term: Lifetime
* We compared each product's yearly costs to the average cost of similar products for the same type of applicant. This figure shows the approximate price difference for a 60-year-old female non-smoker shopping for a guaranteed permanent life insurance policy with $25,000 in coverage.
Best simplified issue term life insurance in Canada
Simplified issue life term life insurance offers temporary coverage without a medical exam, and requires only a short medical questionnaire to apply.
It’s possible to get rejected because some insurance providers have stricter eligibility requirements than others, so getting covered is a matter of finding the right policy. The policies below offer competitive premiums for the industry:
Company
Product
Rating
Premiums*
Beneva
Term Simplified
★★★★☆ (4.5)
$11/month
UV Insurance
Term Superior+ Express/Immediate
★★★★☆ (4.0)
$12/month
Canada Protection Plan (Foresters Life)
Simplified Elite Life
★★★☆☆ (3.5)
$16/month
* For each product, we calculated the average monthly premiums for a female non-smoker between 30-44. The results show the approximate cost of a 10-year no medical term life insurance policy with $50,000 of coverage.
Term Simplified by Beneva
Best simplified issue term life insurance - #1
Beneva
(4.5)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Cost 13% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Whether you compare it to fully underwritten term life insurance or other no medical products, Term Simplified carries an extremely competitive price tag.
Despite Beneva's high Google rating and "A" financial stability grade from A.M. Best, we have two reservations: 1) you can't get a quote (or even basic product details) online, and 2) there seems to be very little coverage available.
Pros
$10,000+ in coverage available for 10-30 years
6 available riders
Below-average rates for all ages
Choice of fixed or decreasing coverage
High Google review scores
Cons
Phone call may be required to quote and purchase
Term Plus
Coverage: $10,000 - $5 million
Term: 10-30 years
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Term Simplified
Coverage: $10,000 - $5 million
Term: 10-30 years
Medical exam: None
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Term 100
Coverage: $10,000 - $10 million
Term: Lifetime
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Enhanced Term 100
Coverage: $10,000 - $10 million
Term: Lifetime
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Universal Life Insurance
Coverage: $10,000 - $10 million
Term: Lifetime
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Simplified Whole Life
Coverage: $10,000 - $99,999
Term: Lifetime
Medical exam: None
Term Superior+ Express/Immediate by UV Insurance
Best simplified issue term life insurance - #2
UV Insurance
(4.0)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Cost 5% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Term Superior+ Express and Immediate are simplified term life insurance products. Despite allowing applicants to skip the medical exam, UV Insurance charges very favourable rates.
The catch? You'll have to make do with $250,000 or less in coverage.
Pros
$10,000 - $250,000 in coverage available for 10-30 years
6 available riders
Choice of individual or joint life coverage
Convertible until age 70
Exchangeable for a longer term
Includes benefit for severe loss of independent existence
Renew indefinitely
Cons
Above-average rates for all ages and smokers
Low Google review scores
Low maximum issue age
Unrated by A.M. Best or other credit rating agencies
Term Superior+ Express
Coverage: $10,000 - $150,000
Term: 10-30 years
Medical exam: None
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Term Superior+ Immediate
Coverage: $150,001 - $250,000
Term: 10-30 years
Medical exam: None
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Term Superior+ Regular
Coverage: $250,001+
Term: 10-30 years
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Whole Life Express
Coverage: $10,000 - $150,000
Term: Lifetime
Medical exam: None
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Whole Life Regular
Coverage: $150,001+
Term: Lifetime
Medical exam: None
Simplified Elite Life by Canada Protection Plan
Best simplified issue term life insurance - #3
Canada Protection Plan
(3.5)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Cost 34% more
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Canada Protection Plan specializes in no medical term and permanent life insurance, and Simplified Elite Life is just one of the company's many coverage options. Although premiums can be steep, each CPP policy includes a free assortment of useful benefits, and the company has several decades of experience and an "A" financial stability grade from A.M. Best to back it up.
Pros
$25,000 - $500,000 in coverage available for 10-25 years
10-Day free look guarantee
4 available riders
Choice of fixed or decreasing coverage
Convertible until age 70
Includes access to online will creator, learning library, orphan benefit and more
No waiting period
Renewable until age 80
Cons
Above-average rates for all ages
Limited coverage amounts available
Low maximum issue age
Preferred Elite, Express Elite, Preferred, Simplified Life and Deferred Elite Term Life Insurance
Coverage: $25,000 - $1 million
Term: 10-30 years
Medical exam: None
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Preferred Elite, Preferred, Simplified Life, Deferred Elite, Deferred and Guaranteed Acceptance Life
Coverage: $5,000 - $1 million
Term: Lifetime
Medical exam: None
*We compared each product's yearly costs to the average cost of similar products for the same type of applicant. This figure shows the approximate price difference for a female non-smoker between 30-44 shopping for a 10-year no medical term life insurance policy with $50,000 in coverage.
Best simplified issue permanent life insurance in Canada
Simplified issue permanent life insurance provides lifelong insurance coverage with no medical exam. It requires basic health information to apply and uses your age, gender, health, and smoking status to determine your premiums.
The policies below require you to pay premiums until you turn 95 or 100, at which point your payments stop, but your coverage continues for life:
Company
Product
Rating
Premiums*
Industrial Alliance
Access Life L100 Immediate Plus
★★★★☆ (4.5)
$64/month
ivari
Simply Immediate Life
★★★★☆ (4.0)
$61/month
Beneva
Simplified Whole Life
★★★★☆ (4.0)
$68/month
* For each product, we display the approximate monthly cost for a 60-year-old female non-smoker seeking a no medical permanent life insurance policy with $25,000 in coverage.
Access Life L100 Immediate Plus by Industrial Alliance
Best simplified issue permanent life insurance - #1
Industrial Alliance
(4.5)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Great for Seniors
Cost 5% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Access Life is divided into four coverage steps which determine premiums and maximum face amounts. Immediate Plus is the highest tier; as long as you're in fairly good health and have no signs of AIDS, HIV, cirrhosis of the liver, hepatitis C or kidney failure, you'll be eligible for the best rates and most coverage.
Pros
$10,000 - $500,000 in lifetime coverage available
$60 annual policy fee
Guaranteed cash surrender value starting in year 5
No medical exam
Option to stop premiums in return for reduced coverage starting in year 8
Premiums payable until age 100
Cons
Above-average rates for all ages and smokers
Limited coverage available
Phone call may be required to quote and purchase
Access Life Insurance
Coverage: $10,000 - $500,000
Term: 15-25 years or until age 100
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Pick-A-Term
Coverage: $10,000 - $10 million
Term: 10-40 years
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Genesis 10 Life Pay
Coverage: $100,000 - $10 million
Term: Lifetime
Features: Investment options
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iA PAR Estate Solution or Wealth Solution
Term: Lifetime
Features: Participating dividends
Simply Immediate Life by ivari
Best simplified issue permanent life insurance - #2
ivari
(4.0)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great for Seniors
Cost 7% less
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
ivari's Simply Simplified Life insurance comes in three tiers, none of which require a medical exam. Immediate is the least expensive and most feature-rich of the three; if you're in fairly good health, you'll qualify for lower insurance rates and several handy benefits.
Pros
$10,000 - $500,000 in lifetime coverage available
Choice to stop paying premiums in exchange for reduced coverage after year 8
Guaranteed cash surrender value starting in year 5
No medical exam
Includes access to Maple virtual healthcare and transportation benefit
Return of premiums plus 3% simple interest within the first 2 years
Cons
Limited coverage available
Phone call may be required to quote and purchase
TERMselect
Coverage: $50,000 - $10 million
Term: 10-30 years
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Simply Guaranteed Life
Coverage: $10,000 - $25,000
Term: Lifetime
Medical exam: None
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Simply Simplified Life
Coverage: $10,000 - $500,000
Term: Lifetime
Medical exam: None
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ivari Universal
Coverage: $25,000 - $20 million
Term: Lifetime
Features: Investment options
Simplified Whole Life by Beneva
Best simplified issue permanent life insurance - #3
Beneva
(4.0)
How products are rated
Our star ratings are based on a mix of each provider's financial stability and Google Review scores, and each product's pricing and ease of purchase.
Great Customer Service
Quote Online
Cost 1% more
than industry average
How prices are compared
We compared each product's yearly costs to the average cost of similar products for the same type of applicant. Unless otherwise noted, all figures show the approximate price difference for a female non-smoker aged 30-44 shopping for a term life insurance policy with $600,000 in coverage, or a permanent or no medical life insurance policy with $50,000 in coverage.
Simplified Whole Life carries an above-average price tag, but that's normal for no medical life insurance. In return for skipping the medical exam, you pay higher rates, but Beneva's high Google review score and "A" from A.M. Best suggests it could be worth it.
Pros
$10,000 - $249,999 in lifetime coverage available
Issued in as little as 60 minutes
No medical exam
Cons
Above-average rates for all ages and smokers
Limited coverage available
Must call for basic product details
Phone call may be required to quote and purchase
Term Plus
Coverage: $10,000 - $5 million
Term: 10-40 years
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Term Simplified
Coverage: $10,000 - $5 million
Term: 10-40 years
Medical exam: None
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Term 100
Coverage: $10,000 - $10 million
Term: Lifetime
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Enhanced Term 100
Coverage: $10,000 - $10 million
Term: Lifetime
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Universal Life Insurance
Coverage: $10,000 - $10 million
Term: Lifetime
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Simplified Whole Life
Coverage: $10,000 - $99,999
Term: Lifetime
Medical exam: None
* We compared each product's yearly costs to the average cost of similar products for the same type of applicant. This figure shows the approximate price difference for a 60-year-old female non-smoker shopping for a no medical permanent life insurance policy with $25,000 in coverage.
What is no medical life insurance?
“No medical life insurance” refers to any life insurance policy that doesn't require a medical exam as part of the application and underwriting process. There are two types of plans under the no medical exam life insurance umbrella:
Simplified issue life insurance requires no medical exam, but may include a short medical questionnaire.
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.
But take note that since insurance providers collect less health information for no medical policies and must assume more risk of insuring, they generally have higher premiums and lower coverage maximums compared to fully underwritten policies.
Pros & cons of no medical life insurance
While it may be a smart choice for some people, there are advantages and disadvantages of no medical life insurance to consider before buying a policy. Understanding the trade-offs and benefits of no medical life insurance can help you decide whether it’s the right fit for your coverage needs.
No medical exam required, including blood work, urine samples or a physical exam
Faster approval, typically within days or instantly for some applicants
Accessible for people with pre-existing health conditions who have been declined for traditional coverage in the past
Available to older applicants (up to age 75 to 80, depending on the provider)
Typically higher premiums since insurers have less health information to determine risk
Lover maximum coverage limits (often capped at $100,000 to $500,000 for guaranteed issue), depending on the insurance provider
Waiting periods (typically two years) may apply for guaranteed issue policies before the full death benefit is payable
Health questions may be required for simplified issue policies
Bottom line: A fully underwritten life insurance policy may be the wiser and more affordable choice if you’re healthy, don’t mind the standard application process, and need more coverage. Otherwise, a no medical policy may make more sense if you need coverage quickly, have pre-existing health conditions, or don’t qualify for fully underwritten life insurance.
Who is no medical life insurance for?
No medical life insurance can be a great option for Canadians with an urgent need for coverage who have pre-existing conditions or high-risk lifestyles, including:
People with a family history of health conditions, such as stroke or heart disease
When you pass away, your beneficiaries will receive a lump sum, tax-free death benefit equal to your coverage amount. Depending on the amount of coverage you chose, that benefit can be used to cover everything from funeral expenses and estate taxes to ongoing living expenses for your loved ones.
The catch: Simplified issue and guaranteed life insurance can cost anywhere from a few dollars more per month to 2–3x the cost of fully underwritten life insurance plans. Depending on the premiums you qualify for, the cost of no medical life insurance may not be worth it for everyone.
Weigh your options
Don’t let the fear of high premiums discourage you — life insurance often costs far less than Canadians predict. But if you’re rejected by multiple insurance providers, treat guaranteed life insurance as a last resort.
How much does no medical life insurance cost?
The cost of life insurance without a medical exam depends on how much information you’re willing to provide during the application process. Generally, the more information you provide, the lower your premiums.
Guaranteed issue life insurance, which requires only basic health information and no medical exam, is typically the most expensive option. For a 65-year-old, a permanent guaranteed issue life insurance policy can cost up to four times as much as life insurance with a medical exam.
With PolicyMe, guaranteed issue coverage can cost less than two times the price of life insurance with a medical exam. It makes it easier to get covered and stay within your budget because your life insurance premiums stay locked and level from the moment you get a quote.
Age
Premiums (Women)
Premiums (Men)
40
$50
$67
50
$71
$88
60
$111
$147
70
$199
$306
*The rates above reflect the approximate monthly cost of PolicyMe’s Guaranteed Issue Life Insurance with $25,000 in coverage for non-smokers.
Do I need no medical life insurance?
No medical life insurance is an attractive option because it foregoes medical exams and offers a quicker application process. With PolicyMe term life insurance, healthy Canadians can hold onto these advantages while enjoying the pricing advantage of a fully-underwritten policy.
PolicyMe’s online application process may not 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.
See how much you can save with PolicyMe term life insurance!
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. You can’t be denied for this type of policy if you apply and pay your premiums.
Simplified issue life insurance usually uses a short questionnaire to determine eligibility. These policies do come with a risk of rejection if you don’t meet underwriting eligibility criteria.
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
Are not Canadian citizens or permanent residents
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?
Before you apply for no medical life insurance in Canada, here’s a short checklist to help you make the right choices for your coverage needs:
If you’re ready to explore guaranteed issue coverage with no medical exam or health questions, get a no medical life insurance quote from PolicyMe with a few clicks.
FAQ: Best no medical life insurance in Canada
Approval for no medical life insurance in Canada can be immediate (as in guaranteed issue life insurance) or take a few days to weeks (as in simplified issue life insurance). The speed of approval depends on which insurance company you choose and how streamlined their application process is.
No medical life insurance trades money for accessibility and convenience. In exchange for skipping a medical exam (and/or questionnaire), applicants pay much higher premiums for less coverage than traditional insurance.
No medical life insurance policies are best suited to Canadians with serious medical issues or who have been denied coverage before, and who just want enough coverage to cover final expenses.
You should consider guaranteed issue life insurance only if you’ve been denied simplified life insurance, and for the best rates, it’s best to apply for a fully-underwritten policy first.
At minimum, life insurance applications ask for your age, sex, smoking status, and province of residence. Longer questionnaires may explore your occupation, mental health, and your past and present medical diagnoses.
The amount of life insurance coverage you can get without a medical exam varies depending on the type of policy, but it typically ranges between $25,000 and $500,000 or even $1 million for some policies. For example, guaranteed life insurance usually offers between $25,000 and $100,000 in coverage, while simplified life insurance plans may offer up to $500,000 or $1 million, depending on your eligibility and the insurance provider.
Yes, smokers can get no medical life insurance, including both simplified and guaranteed issue policies. Keep in mind that simplified issue policies include health questionnaires that ask about smoking status, so premiums are usually higher for smokers than non-smokers. Guaranteed issue policies don’t ask health questions, but premiums are generally higher to reflect the increased risk of insuring without medical information.
The best no-medical life insurance depends on your age, budget, coverage needs, and health status if you’re seeking a simplified issue policy. PolicyMe’s guaranteed issue life insurance may be a good option if you want to skip health questions altogether. If you’re comfortable completing a short medical questionnaire for a simplified issue term life insurance policy that may offer higher coverage limits, Beneva offers a strong option.
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:
Jasmine specializes in converting complex insurance data into actionable guidance. Her background includes auto, life, and health insurance and financial planning. Lately, she’s leveraging AI to extract insights from the numbers and help Canadians make better decisions.
Jasmine specializes in converting complex insurance data into actionable guidance. Her background includes auto, life, and health insurance and financial planning. Lately, she’s leveraging AI to extract insights from the numbers and help Canadians make better decisions.
