Protecting those who depend on you financially and securing their future in the event of the unexpected is essential. But what if you’ve been denied your life insurance? What if you don’t want to go through the long process and the medical exams? Well, an excellent option is available to you: life insurance without a medical exam. Curious to learn more? You are in the right place! Aplos is the only broker specializing in no-exam life insurance!
What is life insurance without a medical exam?
Insurance without a medical exam also called guaranteed issue insurance, allows someone who has a medical condition, or who has been rejected by another insurance company for some reason, to purchase a life insurance policy.
With this type of insurance :
– No medical examination is required.
– You can apply online.
– No questions about height and weight are asked.
– No SAAQ or doctor’s report is required.
– No questions about risky sports or professions.
– No questions about foreign travel.
– Advantageous commission.
– Instant transmission.
– No questions about lifestyle habits.
– Just a little quiz!
How does no medical exam life insurance work?
Life insurance without medical examination has its own peculiarities, but it works like traditional life insurance.
In short, a contract (policy) is entered into between an insurance company and an insured, whereby the entity agrees to pay a stipulated amount to the beneficiaries designated by the policyholder, provided that the terms of the contract are respected, such as the periodic payment of premiums.
The beneficiary can be the policyholder(in the event of retirement, absolute or permanent disability, or serious illness) or his spouse, children, or legal heirs (by death).
In any case, three main actors are involved in the process of taking out an insurance policy:
– The insurance company.
– The policyholder or the insured.
– The beneficiary.
In short, a person undertakes to periodically pay a fixed amount to the insurance company, which is obliged to pay the beneficiaries the agreed capital ( insured amount ), when the loss indicated in the insurance contract occurs.
However, although life insurance without medical examination works in the same way as traditional insurance, as I have already mentioned, it has certain characteristics that differentiate it qualitatively.
What are the types of life insurance without a medical exam?
There are two main types of life insurance policies that do not require a medical exam: permanent life insurance and term life insurance. The first is subdivided into simplified life insurance and guaranteed life insurance.
Each of these types of insurance has the same common denominator: in none of them, the client does not have to pass a medical examination to take out the policy; however, they have certain peculiarities that differentiate them and which are taken into account to determine which is the most suitable for each person.
Depending on your situation, one of our financial security advisors can advise you on the types of insurance without medical examination that are available to you, suggest the best solutions, and explain which one is best for you, given your financial situation. and your state of health.
When to take out life insurance without a medical exam?
Have you been refused a life insurance application? Don’t worry, today there is a very competitive market with 156 insurance companies protecting Canadians, and a wide range of life insurance and financial protection products. There is a life insurance solution for every consumer!
If you have not qualified in the past or have been turned down for any other reason, but feel it is important to protect yourself against all eventualities, it is time to opt for affordable coverage that allows you to be insured immediately, without the limitations and restrictions of conventional insurance.
If you want to provide financial protection for your family, investing in life insurance is your best bet: they can use the policy’s coverage to replace their income, pay off debts, or build wealth.
Who should buy life insurance without a medical exam?
In general, buying no-medical insurance is the most common option when you have a serious medical condition that might otherwise prevent you from getting a conventional policy.
It is also the best option for people with a criminal record or a history of problematic driving.
It is also very common for a healthy person to purchase insurance without a medical exam, simply because the idea of having a physical exam makes them uncomfortable or because an insurance company has already rejected their demand.
In short, insurance without medical examination is aimed at all people who are unlikely to be insured by a standard font.
How to get insurance without a medical exam at the best price?
Several options are available to you in order to obtain the best price for your life insurance without examination.
The first is to call the insurers yourself. Obviously, in addition to being long and complicated, this option does not guarantee you to obtain the best price on the market given the lack of transparency.
The second option (the good one) is to do business with a personal insurance broker. Indeed, a broker can compare insurers for you in order to find the option you want at the best price. However, not all brokers have access to all life insurance products without examination. Indeed, the majority of them only refer to 2 or 3 companies, because this product does not
Well, you’ve come to the right place! Aplos is the only broker specializing in no-exam life insurance. In addition to having a simple and digital process, we compare all the products in order to obtain in 100% of the cases the best products at the best price.