Guaranteed Issue Life Insurance: No Medical Exam Coverage
Coverage for eligible Canadians seeking a simpler way to protect loved ones from financial strain after they pass away.
- Coverage amounts range from $5,000 to $100,000, depending on your age
- No health questions or medical exams needed to be approved
- Personalized online quotes with transparent pricing and no hidden fees
- Premiums stay level and stop at age 100, while coverage continues for life
How does guaranteed issue life insurance work?
Some Canadians may have difficulty qualifying for traditional life insurance due to their health history or lifestyle. If you’ve been declined coverage, guaranteed issue life insurance may offer a simpler path to coverage with fixed premiums and lifelong protection.
PolicyMe Guaranteed Issue Life Insurance offers eligible applicants a simpler path to permanent coverage, with no medical exam or health questionnaire needed to apply. With coverage designed to help with funeral costs, leftover bills, and other immediate expenses. Beneficiaries get a lump-sum payout they can use based on their needs.
What does PolicyMe’s guaranteed issue life insurance include?
PolicyMe’s guaranteed issue life insurance plan offers affordable, practical coverage and benefits, including:
Choose from between $5,000 and $100,000 in coverage if you’re 70 or younger, or $5,000 to $50,000 if you’re aged 71+, with simple options designed to help cover final expenses, debts, or leave something behind for loved ones.
PolicyMe is a fully licensed Canadian insurance administrator backed by Securian Canada, which holds an A+ (Superior) financial strength rating from A.M. Best, giving families confidence their coverage is built to last.
Apply online in minutes with no health questions, medical exams, or lab tests required, making it easier to get covered even if you’ve been declined for insurance before.
PolicyMe Guaranteed Issue Life Insurance offers permanent coverage that lasts for life according to your policy terms, with fixed premiums that won’t change, so your monthly costs remain predictable*
*An industry standard 2-year waiting period on non-accidental death applies
PolicyMe can advance up to 75% of your payout early with a terminal illness living benefit*, multiply your payout by 5x (up to $250,000) with an accidental death benefit*, or provide up to $2,000 if you pass away more than 200 km from home with a body transportation benefit**
* Accidental death and terminal illness living benefits are contractually guaranteed
** Body transportation benefit is not contractually guaranteed and may be modified or removed at any time
The price you’re quoted is what you’ll pay until age 100, with coverage that stays in place for life so you can count on stable monthly payments without any unexpected increases over time.
Should I get guaranteed issue life insurance?
Guaranteed life insurance is designed for older Canadians with pre-existing conditions who have been declined for standard life insurance. It provides comparatively less coverage in exchange for higher premiums, making it best for covering small debts and final expenses.
PolicyMe guaranteed issue life insurance empowers Canadians with health issues and fixed incomes to relieve their families of the cost of funeral expenses, leftover credit bills, and more:
Following retirement, Robert and his wife downsized and sold most of their assets. A mild heart attack and a family history of heart disease convinced him to lock in a life insurance quote for a plan that could cover a small funeral and provide several months’ of income for Rebecca.
Coverage: $20,000
Premiums: ~$120 per month
Jodie’s always done everything her own way, and her final arrangements are no exception. A guaranteed issue plan with modest coverage will help her friends cover a simple cremation and rehome her pets.
Coverage: $10,000
Premiums: ~$90 per month
Olive owns a house and several heirlooms that she wants to leave to her children without creating a financial burden for their young families. A quick online application made it easy for her to find coverage for a full-service burial and gifts to her grandchildren.
Coverage: $50,000
Premiums: ~$100 per month
See yourself in these stories? Get a quote today.
Guaranteed issue vs. other types of life insurance
The term “guaranteed issue” can be applied to any type of life insurance with no health questions or medical exams. For most Canadians, fully-underwritten term life insurance offers a simple, affordable way to protect their families’ financial security. Fully-underwritten term 100 life insurance provides lifetime coverage while keeping the same principles of simplicity and affordability.
In this table, we’ve placed the least expensive option in the top left corner and the most expensive in the bottom right:
Fully underwritten (term) | Simplified issue | Guaranteed issue | |
|---|---|---|---|
Ideal for… | Most healthy Canadians seeking affordable coverage | Canadians seeking coverage with fewer underwriting requirements | Eligible Canadians who may have difficulty qualifying elsewhere |
Main purpose | Income replacement, mortgage protection, protecting dependents | A middle ground between underwritten and guaranteed issue | Funeral costs, leftover bills, and immediate family support |
Coverage type | Temporary coverage | Temporary or permanent | Permanent coverage |
Medical exam | May be required in some cases | No medical exam | No medical exam |
Coverage amounts | Highest coverage limits | Moderate coverage limits | Smaller amounts focused on immediate needs |
Cost | Lowest cost per dollar of coverage | Higher than fully underwritten coverage | Higher cost per dollar of coverage |
Key tradeoff | More underwriting requirements | Higher premiums for simpler approval | Lower coverage limits, pricier premiums |
Life insurance policies with health questions or a medical exam often cost less than guaranteed issue life insurance. Try getting a quote for fully underwritten term life insurance first to see if you qualify for lower rates. If you don’t, it won’t affect your ability to apply for guaranteed issue life insurance.
Why choose PolicyMe for guaranteed issue life insurance?
PolicyMe is an innovative digital insurance solution for life, health, critical illness, home, and auto insurance in one place. PolicyMe’s guaranteed coverage premiums stay the same regardless of how your health may change. Our online life insurance quotes make it easy to shop for a plan that works with your budget and to complete an application in around 15 minutes.
Here’s why you can trust us with your guaranteed issue life insurance quote:
- 47,000+ policies sold
- 10% discount for couples during the first year
- 4.9-star rating from 1,200+ customer reviews
- Backed by Securian Canada (rated A (Excellent) by A.M. Best)
- Help from licensed life insurance advisors on demand
- Online quotes and upfront pricing
What makes PolicyMe guaranteed life insurance different from competitors?
Features | Other Policies | PolicyMe |
|---|---|---|
Maximum coverage Online process. Get approved and covered in 20 minutes, on average. | Up to $50,000 | Up to $100,000 (for ages 18-70) or $50,000 (for ages 70+) |
Speak with an advisor 44 conditions covered | Mandatory for a quote or application | Optional advisor support if you want it |
Accidental death benefit $10,000 to $1 million | 0-4x your policy’s value, customers required to pay for an extra fee for accidental death rider | 5x your policy’s value (up to $250,000) after accidental death included in your policy without any additional charge |
Terminal illness living benefit 10, 15, 20, 25 or 30 years | Access 50% of your policy's value after a terminal illness diagnosis | Access 75% of your policy's value after a terminal illness diagnosis |
Body transportation benefit 27 severe conditions | No | Up to $2,000 if you pass 200km or more from your home |
Apply online 17 early-stage conditions | No | Yes |
Get a quote online Lump-sum tax-free payout | No | Yes |
Features | Other Companies | PolicyMe |
|---|---|---|
Application Typically; a call or meeting with an advisor and a paper application | Typically; a call or meeting with an advisor and a paper application | Online process. Get approved and covered in 20 minutes, on average. |
Number of Conditions Covered 20-30 conditions covered, on average | 20-30 conditions covered on average | 44 conditions Covered |
Coverage Amount $25,000 to $2.5 million, on average | $25,000 to $2.5M, on average | $10,000 to $1M |
Term Lengths Usually 10 or 20 years, or until age 70 or 75 | Usually 10 or 20 years, or until age 70 or 75 | 10, 15, 20, 25 or 30 years |
Fully Covered Early-Stage Conditions 24-26 severe conditions, on average | 24-26 severe conditions, on average | 27 severe conditions |
Partially covered Early-Stage Conditions 0-8 early-stage conditions, on average | 0-8 early-stage conditions, on average | 17 early-stage conditions |
Payout Details Lump-sum tax-free payout | Lump-sum tax-free payout | Lump-sum tax-free payout |
Locked-in Rate? Yes | Yes | Yes |
Convertible? Yes | Yes | Yes |
Can I apply with my partner? No, others require separate applications | No, others require separate application | Yes, one online application for both partners |
How much coverage do I need?
The amount of coverage you need depends on your final wishes and where you live. For example, a simple service in a rural area will generally cost less than a full-service traditional burial in a large city, where cemetery plots can cost $7,000 or more.
Compared to standard plans, guaranteed issue life insurance generally provides less coverage, and covers modest life insurance needs such as:
Expense | How much coverage do I need? |
|---|---|
Burial | $3,500-$20,000 depending on the location, casket, and included services |
Cremation | $845-$12,000 depending on the location, urn, and included services |
Debts | Enough to cover the debt and any early repayment fees |
Pet care or rehoming | $1,000-$2,000 for medical care and basic supplies |
Printed obituary and online obituary and memorial page | $300-$700 depending on the length of the obituary and size of the publication |
Travel expenses | $1,000-$3,000 to cover accommodations and travel to the funeral |
How to get the best guaranteed life insurance
Guaranteed issue life insurance is a specialized policy and the best shopping advice for finding a well-suited policy is to pay attention to your needs. Here are three essential questions to ask:
Talk to our experts
Speaking with our customer success team isn’t mandatory, but it’s always an option. Call us for friendly, judgment-free advice from our experts.
Call +1 (866) 999-7457 to connect with a licensed Canadian insurance advisor, available Monday to Friday from 9 AM to 5 PM EST. Or send us an email:
General inquiries: info@policyme.com
Existing customers: advisor@policyme.com
Claims: servicing@policyme.com
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FAQ: Guaranteed issue life insurance
We’re big believers in keeping things simple, so ask us anything and we’ll answer honestly and without the jargon.
Guaranteed issue life insurance typically doesn’t require health questions or a medical exam to apply. Eligibility rules still apply, but this type of coverage is designed to provide a simpler path to life insurance for eligible applicants.
Guaranteed issue life insurance generally doesn’t use your health history to determine eligibility. However, applicants may still be declined based on factors like age, residency eligibility, or insurance fraud concerns.
Guaranteed issue life insurance is usually more expensive per dollar of coverage than fully underwritten life insurance. Because insurers take on more risk with limited underwriting, coverage amounts are typically smaller and premiums are generally higher.
Most guaranteed issue life insurance policies, including PolicyMe’s, have a two-year waiting period for non-accidental deaths. This is standard across the industry because coverage is offered without a medical exam or health questions. During that time, accidental death benefits may still apply according to the policy terms.
If death from natural causes occurs during the waiting period, the insurance provider will generally return the premiums paid according to the policy terms. Some insurers may include interest or deduct administrative fees, depending on the product.
If death from natural causes occurs during the waiting period, the insurance provider will generally return the premiums paid according to the policy terms.
The main difference is underwriting. Guaranteed issue life insurance accepts everyone without health questions, while simplified issue life insurance asks a few medical questions to determine eligibility. Because of that, simplified issue coverage may cost less and offer higher coverage amounts.
Have a question we didn’t answer?
Call +1 (866) 999-7457 from 9AM-5PM EST Monday to Friday or email us. Our insurance expert team is happy to help!
