There are certain situations where people can find themselves either having a difficult time obtaining life insurance or having a difficult time finding affordable life insurance. This can be due to age as well as getting older together with having health problems. In such situations, Affordable No Medical Life Insurance can be the solution.
About No Medical Life Insurance
Also referred to as Guaranteed Life Insurance, .No Medical Life Insurance is a type of life insurance that does not require a medical exam or medical report. With No Medical Life Insurance, there are no medical tests so there are no visits to the doctor, and no urine and blood tests. Some insurance providers will have a few yes or no health questions to answer.
With No Medical Life Insurance, it does not matter what your current health is or if you have a medical condition, you cannot be turned down. More insurance companies are offering seniors no medical life insurance, which means that those older than 65 are still eligible for coverage. Individuals can apply for 10 year term, 20 year term, or permanent life insurance plans. In Canada, Three of the top no medical life insurance providers are Industrial Alliance, Assumption Life, and Canada Protection Plan which is under-written by Foresters Life Insurance Company.
Affordable No Medical Life Insurance
With No Medical Life Insurance, depending on the policy details offered in a plan, you will have a choice of coverage amounts which means you select the coverage amount that is appropriate for your personal needs and your budget. This can vary from $3,500, up to to $25,000. You can find premiums as low as $15 per month. Premiums are guaranteed to never increase and coverage will never decrease.
Non-smokers obtaining affordable no medical life insurance will see considerable savings, often up to 20% savings on their premiums compared to smokers. And coverage can never be canceled, this includes even if there are changes in your health, unless you request cancellation. You just have to make sure your premiums are paid.
No Medical Life Insurance Details
There are many significant a details in a no medical life insurance plan depending on the policy you purchase. Your acceptance is guaranteed if you are a Canadian Citizen or Permanent Resident/landed immigrant. Benefits can increase any where from 2 to 5 times in the event of accidental death.
With No Medical Life Insurance, you can choose your beneficiary. The Beneficiary is not taxed on the benefit amount. The Beneficiary can use payment for such expenses as final expenses, funeral costs, living costs, contributing towards grandchildren’s education, and paying off loans and outstanding debts. It is important o note that with any insurance policy, it is important to read the policy limitations and exclusions to get a full understanding of the policy.
Who Benefits From Affordable No Medical Life Insurance?
If you have been turned down for life insurance before, affordable no medical insurance may be the ideal solution. Other reasons for getting affordable no medical insurance include: if you are over 65, hard to insure due to a medical condition, you smoke, you are overweight, and you do not want to go through a medical exam.
Nomedicallifeinsurance.ca provides you with an easy and affordable way to get up to $25,000 in financial security for your family. Regardless of your current state of health, you cannot be turned down, and you benefit from insurance protection for a lifetime. Affordable No Medical Life Insurance allows you to leave a bit of extra money behind to ensure your final expenses and outstanding debts are not a financial burden to your loved ones.