Life insurance without Medical Examinations

What is a medical examination?

A medical examination, in the context of life insurance, can take several forms. The most common and basic form of a medical examination is a simple health questionnaire. Yep, you read that right!

It's easy to imagine that a nurse will show up at your house to perform a series of medical tests, when in fact, most insurance policies only require a straightforward health questionnaire.

Admittedly, there are many questions, but it's a good investment of your time that has the potential to save you a lot of money on your life insurance premiums. In some cases, a more in-depth examination may be required. A nurse could indeed come to your home to conduct a few tests, including possibly, a blood test.

If you are anything like me and have a phobia of needles, there are two options available to you:

1. Take the bull by the horns and go through the medical tests
2. Apply for life insurance without a medical assessment, while being aware that the premium for your life insurance policy may be higher.

If you have a specific health condition, the insurer may also ask for your doctor's contact information for more information. That being said, regardless of your situation, it's reassuring to know that insurers can offer you a wide array of options to help you protect your family, with and without medical exams.

Why do insurers ask for medical examinations?

In insurance, it's all about statistics and probabilities. The main factors that influence insurance premiums for individuals are age and sex, health status, and lifestyle habits.

This makes sense when you think about it since these are all factors that allow us to estimate the risk of mortality. The insurer is attempting to determine the likelihood of having to sign the claim check. That's why a 68-year-old skydiver with diabetes is likely to pay a much higher life insurance premium than a perfectly healthy 28-year-old mother, simply because the risk of death is much higher for the skydiver. The medical examination, therefore, serves as proof to the insurer that you are not a serious risk, and that you consequently deserve to have the lowest possible premiums 😄.

However, it is not mandatory for all products. In fact, many life insurance products can be purchased without a medical examination. It is advisable to check with an expert before submitting a life insurance application to an insurer because he/she will be able to quickly assess several key aspects of your health and lifestyle.

For instance, if you are experiencing health problems that could affect your insurability, the expert will be able to conduct some preliminary research to find you the best insurance company for your situation.

Don't hesitate to ask questions when you begin a life insurance process online or offline.

Who should consider life insurance without a medical examination?

As previously stated, the majority of products offered by insurers generally require medical examinations. However, you can deliberately choose to purchase a policy without having to undergo these exams.

Who can benefit from this choice?

• You have or have had health problems like diabetes requiring insulin, cancer, a heart attack, or any other major illness.
• You are not easily insurable or have been refused by an insurer in the past.
• You are employed in a dangerous occupation.
• You dislike medical exams and blood tests.
• You do not wish to answer questions about your legal file?
• You play dangerous sports.
• You want to be insured quickly.

If any of these situations apply to you, you may find it a little harder to qualify for traditional coverage. Life insurance without a medical exam is, therefore, a product that could be right for you.

Whether your need for coverage requires term life insurance, permanent life insurance, or a customized solution to cover your short and long-term needs, you may be able to find a no medical examination life insurance plan that will protect your family 😇.

Start a chat session on emma.ca today and talk to one of our experts.

He or she will be able to guide you and answer any questions you may have. All of our experts are qualified to steer you towards the best possible solution.

The benefits of life insurance without medical examinations

Although life insurance premiums are higher when there is no medical examination, this type of product still has considerable advantages.

First of all, we can all agree that it is a product easily accessible to everyone. Virtually anyone can apply easily and quickly 🎉.

It can be entirely subscribed to online and for most insurers, coverage is guaranteed and immediate.

Also, most insurers offer renewability until the age of 80, even if you have health problems. It is a flexible and cancellable product.

Nothing prevents you from purchasing this type of product if you need insurance quickly and your health situation warrants it, and to later purchase a life insurance policy with a medical examination to qualify for a better premium 🤓.

There are even some products without medical exams where you can acquire permanent life insurance or even crazier, disability and critical illness insurance. It's amazing how many options are available when you take the time to look around.

Today, if your medical condition is under control and stable, it's virtually impossible not to find a life insurance solution that's right for you.

The disadvantages of life insurance without a medical examination

Watch out during the first two years of your contract.

Life insurance without a medical examination is a little riskier for the insurer than traditional life insurance because they hardly ask any questions, they are not aware of the risk of each client presents. Some insurers, therefore, include a provision in the contract that states that in the event of death, within the first two years, the insurance company will not pay the death benefit to the beneficiaries and instead only refund the monthly premiums that have been paid. The death benefit will only be provided after two years of successful payments.

What to do if you are healthy?

If you are in good health, or if you have (or have had) minor health problems, this is probably not the ideal product for you.

In fact, you will likely get better prices if you choose to answer the health questions.

For these reasons, you should always notify your adviser about your health condition as soon as you start looking into purchasing insurance.

He or she will then be able to guide you towards the right life insurance policy for you. Also, we encourage you to talk to an expert on our online life insurance platform. They have access to the premiums of every insurer so that he or she can objectively recommend the right option for you.

Do not hesitate to drop in to chat with one of our certified experts to discover the product that best suits your needs 😇.

Our specialists are here to answer your questions and help you create the perfect family protection plan.