Simple Issue No Medical Life Insurance
Life Insurance is often viewed as complicated to even be considered by some. There used to be a time when purchasing life insurance was daunting. It required you to have a lengthy questionnaire, draw blood and even provide a doctor’s report. Once collected, the insurance company may ask for a follow up Physician’s Report to further review your ability to qualify. It was a lengthy process that may or may not lead to the applicant getting a life insurance policy.Then came the need for Simple issue no medical life insurance.
The Need for Simple Issue No Medical Life Insurance
Eventually Life Insurance companies adapted to the market and started developing “Simple Issue ” insurance products. Instead of just life Insurance, companies began offering Critical Illness and Health Insurance through this simple issue process.
So what does this mean?
- Quick and smooth application
- No physical, No bodily fluids, No doctor’s report
- The Insurance Company approves the applicant on their answers.
- In most cases a policy can be issued same day
- Price stays the same for the life of the policy
- Policy can’t be cancelled as long as the premiums are paid
Simple Issue policies are designed for Permanent needs and as such the rate won’t increase over time. What are permanent versus temporary needs, well this may be slightly specific to the individual.Funeral costs typically is a permanent need while a child’s education may be temporary.
Figuring Out How much Life Insurance Coverage You Need
Figuring the amount of insurance you need may be viewed as complex . it will come down to how much you will need to cover any outstanding debts, funeral costs and money to leave for loved ones. While everyone will have their budget, I would suggest prioritizing what is most important. So for instance paying for your Funeral or Cremation would be a good place to start Next move on to any debts, especially joint debts you may have with your spouse. Examples of Your Joint debt include mortgages, car loans and child medical expenses.
Typical Insurance Needs
- Funeral Expenses
- Debts such as Loans and Personal Credit Cards
- Child Costs
- Children’s Education
- Charitable Donations
Life Insurance Quote and Application
To receive a quote on coverage, simply contact us at 1-866-833-7992 for a personalized quote. We understand your needs and will be able to look at what your individualized requirements are and find the best product from Canada’s major insurance providers. The quote is free, there is no obligation and we don’t require any medical tests to qualify.