No medical life insurancein plain English

Life insurance companies use medical exams to assess your overall health and life expectancy, helping them set accurate premium rates. A thorough health check can reveal potential illnesses, which may lead to higher premiums or recommendations for critical illness insurance. Conversely, those in above-average health may receive lower rates. While a medical exam provides insurers with key insights, unexpected results could mean paying more for coverage.

Probably not as your first choice. If you're healthy, a fully-underwritten policy (the kind with a medical exam) almost always gets you more coverage for a lower price — your good health works in your favour. No-medical makes the most sense when you want coverage fast, have a health condition that could raise your rate or get you declined, or work a high-risk job. If you're healthy and not in a hurry, it's usually worth doing the exam — we can quote both and show you the difference.

No medical exam life insurance is a good option for young, healthy people who don't need a lot of coverage. Those who don't qualify for traditional coverage due to underlying health conditions should also consider it. It can be a good way to guarantee approval. If you need a life policy quickly or don't want to take a physical exam, opt for no medical exam insurance. In most other cases, insurance with full medical underwriting is a better option.

Having health concerns or a pre-existing condition doesn’t mean you can’t get life insurance. Many policies are designed for individuals with medical conditions, though coverage amounts may be limited, and premiums are often higher.

Option 1: Apply for traditional life insurance: Many people assume they won’t qualify for traditional life insurance and opt for non-medical policies out of fear of rejection. However, an underwriter may assess your health differently than you do, and you could qualify for better rates and more options. It’s wise to try traditional coverage first, as it often provides more benefits. If you don’t qualify, then a no-medical policy can serve as a backup option.

Option 2: Apply for no medical life insurance: In the event that you are declined traditional life insurance, or if you suspect that your pre-existing condition will disqualify you, no medical insurance is a great option available to you.

Most no medical policies in Canada cap out around $500,000, though some insurers go up to $750K for simplified issue plans (those that ask a few health questions). Guaranteed issue policies — the kind that ask zero health questions — usually cap at $50K–$100K. If you need more than $500K, you'll likely need a traditional medically underwritten policy. We can compare your options.