No Medical Life Insurance: What Is It? Who Is It For?

No Medical Life Insurance
No Medical Life Insurance

If you’re like most people, you probably believe that getting a medical checkup is required before you can get life insurance.

However, did you know that there is insurance out there that doesn’t call for a physical?

No medical life insurance policies are what they are called, and they might be a perfect choice for those who want coverage but don’t want to deal with the headache of a medical exam. Learn more about no medical exam life insurance policies as you continue reading to determine if they are a good fit for you. ‍

What is no medical exam life insurance?

No Medical Exam Life Insurance
No Medical Exam Life Insurance

No medical life insurance is exactly what it sounds like: a life insurance policy that doesn’t require a medical exam to qualify for coverage.

Taking life insurance medical exams can be a hassle. If you’re fit and healthy, it can seem like a waste of time (though if you’re perfectly healthy, you should get the medical component done if possible)

If you have an underlying condition, you may be worrying about how results will affect your medical life insurance premiums.

No medical life insurance lets you avoid a medical test. However, this convenience comes at a cost. No-medical life insurance policies usually cost more than a traditional life insurance policy.  

Insurance providers will also ask you medical questions. You must answer these questions truthfully. If the insurance provider finds out you were dishonest during your application, it can reduce the payout or even deny your claims altogether.

‍Can I get life insurance if I have health concerns or pre-existing conditions?

You might believe that having a pre-existing condition would prevent you from obtaining life insurance. But it’s not always the case.

It’s not fatal if you have health issues or pre-existing conditions. Still, you can purchase life insurance. For Canadians with medical issues, there are numerous life insurance options created expressly for them.

However, the amount of life insurance you may get will probably be impacted by your health. Additionally, your annual premium rate will probably be higher than that of someone in excellent condition.

‍Benefits of no medical life insurance

No medical life insurance has a lot going for it, such as:

Speedy approval

Guaranteed issue life insurance
Guaranteed issue life insurance

Purchasing a TV is not the same as purchasing life insurance. It’s a unique product, and approval for standard life insurance coverage can take up to six weeks.

But a lot of people are unable to wait that long. They urgently require insurance coverage for either personal or professional reasons. The best option for them is no-medical life insurance.

Within 48 hours, many insurers will approve non-medical insurance. For some, approval comes right away. That is really advantageous for consumers who don’t have the luxury of time.

Some people urgently require insurance coverage since they are planning a trip. A no medical is exactly what the doctor ordered if you are uncomfortable traveling overseas without it. Before your plane takes off, you’ll be covered!

A no medical policy can assist you to get approval if you’ve applied for a company loan and need collateral right away. There is no way to buy a typical life insurance policy at the last minute because of the short deadlines for these loans.

Get coverage even with health issues

There is still hope if you have an underlying health issue yet are turned down for regular coverage. You can try again with different no-medical-exclusion life insurance companies.

Consider purchasing simplified issue life insurance. Simply responding to a few health-related questions will qualify you. However, guaranteed issue life insurance can be your only choice if you are too elderly or unwell.

Affordable life insurance without a medical test

You’re looking for low-cost protection without a medical exam since you’re afraid of needles.
You’re not alone, after all. According to a study, up to 20% of adults suffer from needle fear. (That’s not simply a fancy name; it’s a recognized medical problem.)

Consider an expedited life insurance policy if you’re in good health but don’t like the notion of having to undergo medical exams. Just a few questions are needed to demonstrate your eligibility.

The best thing, though?

The premium rates are comparable to those of complete medical underwriting life insurance plans.

Have a dangerous job

Riskier jobs include commercial fishing and underground mining. The same is true for pastimes like bungee jumping and skydiving.

You might not get along too well with traditional life insurance institutions if you have a high-risk career or pastime. They’ll probably provide you with their hiring prices.

Give no medical life insurance a try if they do, especially if you are in good health. Your pleasant surprise at how inexpensive no-medical insurance quotes might be in your situation may come as no surprise.

Funeral insurance

Funeral Insurance
Funeral Insurance

It’s no secret that getting older increases insurance costs. And as you pass 50, the increase becomes extremely substantial, averaging about 5 to 8 percent per year.

A no medical exam life insurance policy might be a better choice if you are a healthy adult over 50 and wish to purchase life insurance to pay for funeral costs.

For someone with your profile, the price difference between a no medical life insurance policy and a conventional life insurance policy may be rather little. Additionally, traditional life insurance policies typically offer death benefits that are higher than those granted by no-medical-exclusion policies.

For funeral costs, you don’t need a million-dollar insurance plan. A policy with a payment of $25,000 or $50,000 should be adequate. There aren’t many conventional life insurance policies in that price range, though. Therefore, it makes sense to use no medical insurance to pay for funeral costs.

Disadvantages of no medical life insurance

No medical life insurance policies are not as popular as life insurance policies with full medical underwriting.

Let’s find out why.

No medical life insurance is more expensive

Insurance Coverage
Insurance Coverage

Traditional coverage clearly outperforms alternative coverage in terms of cost. To be eligible for such an insurance, you must successfully complete a medical exam. The outcomes of this examination enable the life insurance company to accurately assess your risk and, as a result, determine your rates. How much insurance you purchase is directly correlated to your level of risk.

However, a no-medical policy prevents the life insurance company from fully determining your risk level. In order to protect you, they’re taking on additional risk. They raise your premium to make up for it.

The bottom line: Choose a life insurance policy with thorough medical underwriting if cost is your top priority.

The payout amounts of no medical life insurance policies differ from those of conventional policies. Although every life insurance provider is different, there aren’t many no-medical insurance policies available with benefits above $5 million.

A fully-underwritten term life insurance policy can be a better choice if you require greater coverage.

Lower coverage amounts

The payout amounts of no medical life insurance policies differ from those of conventional policies. Although every life insurance provider is different, there aren’t many no-medical insurance policies available with benefits above $5 million.

Common mistakes when getting no medical life insurance

Because they are worried about being declined, an excessive number of people get non-medical insurance. They believe their health prevents them from being eligible for regular life insurance.

That might not be the case, though.

You may be in better shape than you realize. In any case, an underwriter does not view your health the same way that you do. Therefore, there is no harm in trying out standard coverage.

You receive better rates if you are qualified. Also, there are more choices. The door to no medical life insurance is always open if you don’t make the cut.

Don’t automatically assume a no medical life insurance policy is your only option. Try traditional coverage first instead and keep non-medical life insurance as your plan B.

How can I buy a no medical life insurance policy?

Make as many comparisons as you can. The way that each life insurance provider determines risk varies. The only way to guarantee you obtain the best pricing possible is to compare rates. Speak with insurance professionals who will evaluate your case and suggest the best non-medical life insurance for you.

‍How much does no medical life insurance cost?

The type of policy and life insurance provider you choose will determine the cost of a non-medical coverage.

For instance, the price of life insurance with rapid issuance is fairly comparable to the price of policies with regular underwriting. However, assured and simplified life insurance are significantly more expensive.

How much does life insurance that is medically underwritten cost in comparison?
Less expensive than no medical life insurance are underwritten life insurance policies.

How come? Because the life insurance provider has all the information necessary to assess your insurance risk. This covers your age, general health, past medical conditions, medical history of your family, and dietary preferences. With the use of this information, the insurer is better able to assess your application for coverage and provide the best available rate.

What types of no medical insurance policies are available in Canada?

Top life insurance companies offer three types of no medical insurance policies in Canada.

  • Accelerated issue life insurance
  • Guaranteed issue life insurance
  • Simplified issue life insurance

What is accelerated issue life insurance?

Whole life insurance
Whole life insurance

The typical fully underwritten life insurance policy is approved in about six weeks. When trying to purchase life insurance, some people do not have the luxury of time. Furthermore, you wouldn’t want to pay more for quicker approval if your health was excellent.

Accelerated issue life insurance can be useful in this situation.

It guarantees rapid approval and has rates that are comparable to those of traditional life insurance plans.

The caveat is that you have to be in good health. If not, you can be required to undergo a medical life insurance assessment.

When determining premium rates and calculating the risk of insuring you, advanced algorithms are used in accelerated underwriting policies. You will be required to respond to some health-related inquiries while applying.

These details, along with others like your driving history, will be entered into the algorithms used by life insurance providers. You might be approved based on the findings without having to undergo a medical life insurance test. In the event that you don’t, life insurance companies will ask you to take a medical life insurance test.

Pros Cons
Easier, faster application. You may need to take medical exams if your health is less than perfect.
Pricing similar to traditional life insurance policies. The insurer can deny coverage.
Higher death benefit amounts available than simplified and guaranteed life insurance.

What is the guaranteed issue life insurance?

Hence the name, guaranteed issue life insurance offers protection regardless of your medical history. You do not have to submit to a medical life insurance examination, and you are not required to respond to any medical queries (depending on the broker). It is essentially life insurance with no questions asked.

It is, however, much more expensive than simple issue and perpetual life insurance. Additionally, the coverage amount is quite modest and typically just covers final expenses. It is sometimes known as burial insurance or life insurance for funeral expenses because of this. Guaranteed issues don’t include a savings component like regular whole life insurance plans do.

The majority of assured life insurance plans have a waiting period, which is typically two years. Before the death benefit is paid to your family, you must keep your policy on the books for two years. The insurance company will reimburse your family for the premiums paid into the policy if you pass away within this time frame.

Guaranteed life insurance is for elderly or ill individuals, or both. It’s best to first speak with your insurance broker to see if better insurance options might be available.

Pros Cons
Easy application process. Doesn’t require you to complete a medical test or answer health questions.  Limited death benefit amount
Guaranteed approval, as long as you are under a certain age. The age range is typically between 40 and 85. Includes a waiting period. Your family will receive only the partial death benefit if you pass away within this time.
Premiums are much higher compared to policies with full medical underwriting. 

What is simplified issue life insurance?

Simplified issue life insurance
Simplified issue life insurance

Lifetime protection is provided by simplified issue life insurance. However, it only provides minimal coverage and doesn’t build up cash value, unlike permanent life insurance, which includes comprehensive medical underwriting.

You must respond to some medical questions in order to be eligible, but no physical examination is required. Not every applicant is granted approval. Compared to fully underwritten permanent life insurance, the premium rates are significantly greater, but the payout amount is much smaller.

There is a waiting time for some simplified issue life insurance plans, which is typically two years. Only after the waiting period does your family get the policy’s payout. The insurance company will not pay out if you pass away during the first two years. Instead, it will give your family the money you had spent on the premium.

When a person is in overall good condition but does not meet the requirements for a standard life insurance policy or permanent life insurance, this form of life insurance policy may be the best option.

Pros Cons
Doesn’t include a medical test. You only need to answer some simple health questions to qualify.  Approval isn’t guaranteed.
The application process is much quicker than traditional life insurance. Coverage amount is limited.
Considerably more expensive than standard life insurance policies.

How long is the waiting period for different no medical life insurance options?

A waiting period, typically lasting up to two years, is included in some no medical life insurance policies. These are often made for those who are undergoing treatment or who have a serious medical condition.

If the claim is submitted while the waiting period is still in effect, your family will not be compensated. The insurer would probably return any pre-paid premium money, though.

Accelerated issue life insurance vs. simplified issue life insurance vs. guaranteed issue life insurance

Here’s a quick comparison guide.

Accelerated Issue Simplified Issue Guaranteed Issue
Best suited for People In good health seeking faster approvals.
  • Seeking instant approval
  • Who don’t want to take a medical exam
  • With health issues
  • Seeking coverage to cover end-of-life expenses
  • Who don’t qualify for other types of life insurance products
  • With severe health issues
Health-related questions Extensive Limited None
Medical Test You may have to complete a medical test. No No
Maximum death benefit amount $1 million $50,000 $25,000
Approval time 1-3 business days Instant issue to 2 days Instant issue

To be eligible for simplified issue life insurance, you must respond to health-related questions. In addition, insurance firms have the right to reject your application if your health is inadequate. Guaranteed life insurance, on the other hand, excludes inquiries about medical history. If you are under a particular age, often 85, the insurer cannot refuse coverage.

Compared to assured issue life insurance, the simplified issue provides more coverage and is less expensive.

‍Is no medical life insurance worth it?

no medical examination For young, healthy people who don’t require a lot of coverage, life insurance is a suitable alternative.

People who lack traditional coverage because of underlying medical issues ought to take it into consideration as well. It may be a useful strategy for ensuring acceptance.

Choose no medical exam life insurance if you require a life coverage right now or don’t want to undergo a physical examination. Life insurance with comprehensive medical underwriting is a superior choice in the majority of other scenarios.

Should I get no medical insurance if I am healthy?

No medical life insurance is a fantastic choice if you need coverage right away or don’t enjoy having physicals. Accelerated issue life insurance keeps expenses low while doing away with medical exams. Young, healthy people can easily get premium rates that are quite close to those of insurance with complete underwriting.

Keys Takeaways

  • No medical life insurance policies typically have higher premiums than policies that require a medical exam.
  • The policies may have coverage limits or exclusions for pre-existing conditions.
  • No medical life insurance is often more difficult to qualify for than policies that require a medical exam.


No medical life insurance policies don’t call for physical exams, which makes them the best option for people with pre-existing problems who would not be qualified for other kinds of life insurance policies.

However, compared to conventional life insurance plans, no medical life insurance policies provide lesser rewards and cover a smaller amount of risk. Additionally, since they don’t demand a physical exam, some people may have trouble obtaining coverage if they have serious health issues.

Which is the best life insurance policy?

The answer to this question isn’t found in the back of the book. Life insurance is a deeply personal purchase and there are many factors to consider. In addition to taking into account your current family’s financial needs, you should also account for future expenses like tuition, funeral arrangements, estate taxes, and any other debts you would like settled if you died. (If that sounds complicated, there are insurance calculators).  

When you search for insurance quotes, there is a multitude of options to choose from. Nevertheless, you should only purchase a policy you can afford and that makes sense for you and your family.

Thankfully, AG Group Enterprise Ltd is here to help! Our mission at AG Group is to provide a wide range of life insurance policies, including term coverage, permanent coverage, RRSPs, RESPs, and more! 

With AG group’s insurance policies, you can protect the future of your family and your finances. A good policy ensures a bright future!

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