“Guaranteed Issue” compared to “Non Medical” Life Insurance
Sunlife Insurance Quote, These two kinds of insurance frequently get confused as the same type of policy and in fact they are two very different kinds of life insurance policies. We have found that people frequently get them confused at considerable cost to their budget – they purchase something that is far more expensive than necessary or get less coverage than they could afford. Also, if you are a person of average health please check out “non medical” insurance for healthy Canadians. This “non-medical” policy is priced like a traditional insurance policy but there is no medical requirement for certain age groups and insurance amounts.
Guaranteed Life Insurance
These policies are offered with no medical questions and are truly guaranteed issue. Before selecting this type of insurance, we recommend that you look at the non-medical insurance options below as they offer more coverage for the dollar than the guaranteed products. Click here for more information on guaranteed issue products and examples of their costs. Usually the amount of life insurance offered is limited to about $25,000 which is more than enough to look after final expenses and smaller amounts can be purchased.
“Non Medical” Insurance
This is the most common kind of life insurance and you will see it advertised on the TV as well as other media. One company sends out flyers and mailings. These kinds of insurance providers advertise that:
- “no one will call on you”,
- “no medical is required”,
- “instant issue if you can just answer a few questions”.
Sound familiar? I suspect that names life CPP or Canada Protection Plan might come to mind.
The problem with this type of life insurance is that you will likely pay too much for your coverage just to avoid having to see a nurse and provide some blood work. We have also found that the questions on some of these applications are not that clear which can lead to claim denials and the person who filled in the application is no longer around to argue. There are also traditional Life insurance options that are very competitively priced and also offer “non- medical life insurance if you are of average health. Click here for an example to see if you would qualify for this insurance, check out the questions and get a quote.
Where these kinds of policies are of most value is when there are significant medical issues that prevent someone from qualifying for a traditional policy. Then their extra costs are worth it. However, make sure that you understand the questions and answer them fully. We specialize in helping people find the most cost effective solution and we do offer a wide variety of products including the CCP products for those who would only qualify for this kind of insurance. Having some insurance is always appreciated by your loved ones compared to the alternative of no insurance.
The following quoting engine is specific to these special risk products. They have limited questions and different qualifications. Most of these policies are issued with a two year deferral period which states that if you pass within the first two years, they will return the premiums usually with an interest factor.
When you get the quotes, each company has different questions that you need to answer “no” to qualify for the life insurance. These questions come from their applications. You can access these questions for each company by clicking on company’s name below:
If you do not find something that works for you, want to proceed to purchase something, or have questions, please call us at the phone number above or complete the contact us form and include “non-medical” in the comments section and we will be in touch later today or the next business day. You will be paying a significant amount of money for this policy over your lifetime, it is important that you get the best policy at the beginning.Our mission is to help you get the insurance you require at the best possible price given your unique set of medical issues and we work closely with the underwriters at most major Canadian Insurance companies to accomplish this. Insurance Direct Canada pioneered brokering life insurance through the internet eight years ago and is a member of the Better Business Bureau – on line.