No Medical Life Insurance

No medical life insurance is a kind of life insurance policy that you can buy without having to undergo a medical examination. Many people prefer this kind of life insurance because it’s easier and less time-consuming to get and because it’s an option if you have a pre-existing condition. No medical life insurance is often more expensive than standard life insurance because insurance companies have less information to evaluate your health, and because people who are in good health tend to opt for standard life insurance policies.

If you're thinking about no medical life insurance, read the information on this page to understand what it is, and whether or not it's the right decision for you.

No medical life insurance is one of a few things that need to exist, but you never want to use, if you can avoid it. That said, if you can't get life insurance any other way, you shouldn't feel bad about checking out no medical life insurance. You can still get good coverage for a great rate.

Here are a few additional things to consider.

Additional coverage options

Some no medical life insurance providers allow you to purchase extended coverage, or riders, to cover you for other circumstances:

• Critical illness provides a payout if you develop a life-threatening illness like heart disease, stroke, or cancer
• Accidental death pays an additional benefit if your death is the result of an accident
• Some no medical life insurance policies also specify an age at which you no longer make monthly payments—usually around age 95.

How to buy no medical life insurance

You can buy no medical life insurance in a few different ways:

• Direct underwriters, who work for specific insurance companies
• Insurance agents, who are independent but only sell the products of one insurance company
• Insurance brokers, who sell the products of multiple insurance companies
• Some providers offer online applications

 

---

Ratehub.ca is not affiliated or otherwise associated with Hub International Canada.