Insurance companies have strict criteria for life insurance policies. No Medical Life Insurance can help you secure an insurance policy without a medical exam. Usually, the insurance company will ask for a medical exam to ensure you’re not at risk of disease or have a history of drug or alcohol abuse. If you’ve been denied life insurance for any reason, this is where no medical life insurance can come in.
You don’t have to undergo a medical examination or worry about being denied life insurance because of a pre-existing medical condition. There are many benefits to purchasing a no medical life insurance plan, one of which being that you do not have to pay higher premiums just because you have a health condition, particularly if you work with an experienced individual life insurance broker like Shelter Bay. We can guarantee that you will not end up having to pay a fortune or having to wait a long time to be accepted by an insurance company.
Ending The Stigma Around Purchasing Life Insurance Policies
While it’s definitely difficult to think about for many, there comes a point in your life where you should think about getting life insurance. There’s no doubt about it: there is a lot of unnecessary stigma around purchasing life insurance. That’s why we’re here to ensure that there is real value in purchasing this insurance product, but more importantly, we want to reduce the stigma around it and help Canadians with realizing that they are making a great decision for their future and for their families. We’ll also be discussing the differences between no medical life insurance and simple life insurance.
Here are the top five myths around life insurance and why they simply just aren’t true:
Myth # 1: Life Insurance Is Just For Seniors
No, life insurance policies are definitely not just for seniors. In fact, you can actually purchase a life insurance product when you turn 18. No matter your age, there is the right life insurance policy for you but finding the right one for you will depend on what stage of life you’re at and if you have a medical condition. The older you are, the more expensive your policy will be, so it may actually be better to invest in a policy when you’re younger and have fewer health issues.
Myth #2: It’s Too Expensive
Myth # 3: It’s Only Needed If You Have Children
Myth # 4: You Can’t Qualify If You’re A Smoker
Myth # 5: It’s Too Difficult & Time-Consuming
Purchasing a life insurance policy doesn’t have to be difficult, especially if you work with an independent insurance broker like Shelter Bay. Rather than working for one company, we have access to a variety of packages from various trusted lenders across the country. This means we can shop around for the best rate and the best coverage options for your needs.
The Different Kinds of Life Insurance
Permanent Life Insurance
This type of life insurance plan is exactly how it sounds: permanent. Meaning, it provides lifelong coverage. While this is typically a more expensive plan because it lasts for the duration of your life, it can build a high, tax-free cash value that you can borrow against overtime, or just let it continue to build slowly over the years.
Below are the different varieties of permanent life insurance policies: