No Medical Life Insurance

No Medical Life InsuranceSimplified Issue and Guaranteed Issue Options

Answer "no" to a few simple health questions and purchase Deferred Term 10, 20 with coverage starting as low as $50,000 and going as high as $100,000 or Term 100 starting as low as $25,000 going up to $100,000. If the insured qualifies for this plan there is a 2 year waiting period before the plan comes into effect. The premiums for this plan are among the lowest in Canada and will not increase during the period of the term you choose. This plan is available from age 20-70. Many Canadians are using this tipe of insurance for last expenses and funeral insurance.

The Simplified Issue Term policy is available for 10 years, for 20 years or to age 100. Your premium payments will never increase. There are a number of options available with this plan. It can be purchased if you are 18 to 70.

STANDARD BENEFITS


Coverage
Coverage amounts can range from $25,000 to $100,000.

OPTIONAL FEATURES


Accidental Death Benefit
If you die by accidental means and your payments are up to date, the amount of the Accidental Death Benefit will be paid in addition to your coverage amount.  This benefit is available in amounts equal to 1, 3, or 5 times your coverage amount or $250,000 whichever is less. This option is available for those 25 to 65.  Premiums for this option will not increase. This benefit ends when you turn 70.

Child Term Benefit 
You can also purchase $5,000 of coverage for each of your children. This option is available for children 30 days to 18 years old. The benefit ends when the youngest child turns 25, or when you turn 65, whichever occurs first. One premium covers all of your children. Even those born or adopted after your policy is issued.

PAYMENTS


Premium payments may be made annually, semi-annually, or monthly through automatic banking. The annual policy fee is $75 for the first policy, and an additional $50 for each additional policy (spouse or child). If you apply for more than one policy on your life, you are only charged one policy fee. You can pay annually or semi-annually by cheque, or by automatic monthly withdrawals from your bank account.~

One of the more common and recognizable simplified issue plans is the CPP plans. CPP

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