How Does Life Insurance Work in Canada When You Have Medical Issues?

How does life insurance work in Canada when you’re not in perfect health? Affordable high-risk life insurance—um, really—sounds like clickbait! Those words seem incompatible to most people.

Many people wait until later in life to get coverage. So, what comes to mind when you think of Life Insurance for High-Risk Seniors? I bet the usual suspects are diabetes, Elevated Cholesterol, High Blood Pressure, etc.

But what if I told you that affordable life insurance for high-risk people is not only possible but more common than you think? 

What Makes a Client “High-Risk” in Life Insurance? 

High Risk Insurance is a little bit of a loose term…

That’s the main reason I am writing these articles. Leaving things up to your imagination is NEVER a good idea. NO WAY, NO HOW.

So, I’d like to start with a little story. My wife had a breast tumor when she was 16 and a brush with a complex cyst as an adult before she applied for life insurance.

As you can imagine, she was concerned that she’d be turned down.

I tried to assure her everything would be fine but couldn’t ease her worries. Anyway, long story short, as I suspected, she was approved with a standard rating! My “I told you so” was music to her ears. 

What’s the deal? Did the life insurance company make a mistake? 

Nope! The key is how much your medical condition impacts your life expectancy! 

Industry statistics show roughly 80% of life insurance applications are approved at standard rates or better.

…and less than 5% are declined.

Yes, siree! This is a minor detail most of you searching for “high-risk life insurance policies” don’t know. You’re likely healthier than you think.

For example, we’ve all wondered, “Am I overweight?”. Well, life insurance companies maintain height-weight charts that determine your rates.

This means carrying a few extra pounds may not impact your premiums as much as you think. The real kicker? Being overweight can put you at risk for any other health ailments that will cause an issue. 

Assumptions Cost Money 

This doesn’t make you a High-Risk Insurance applicant if you’re a little heavier than the average person.

You may be as healthy as an ox; in that case, they issue your policy without a problem…

…you may even qualify for preferred rates.

If, on the other hand, you’re two steps away from having a heart attack because you’re obese – that’s a different story altogether. 

The thing is, life insurance companies are in the business of making money, my friends. Sure, they provide a fantastic service when it comes to protection, but they don’t want to insure people who are likely to die before the end of their term.

That doesn’t make sense. 

Recent research suggests that being overweight or even obese may not, in and of itself, be the health threat we think it is. A 2012 study from the National Cancer Institute found that moderately obese people actually lived about 3.1 years longer than normal-weight women and men.

Another study, published in the European Heart Journal showed that when obese people are metabolically healthy — which means their blood pressure, cholesterol, blood sugar and other indicators fall within a healthy range — they are at no greater risk of dying from heart disease or cancer than those who are of normal weight.

FITNESS MAGAZINE, Can You be Fat but Fit?

Are Your Medical Conditions High Risk? 

If you’re looking for affordable high-risk insurance, this list of conditions should make you feel much better about your situation. 

This is especially true if you aren’t sure you’ll be penalized for your medical history. Many people assume they are High-Risk when they’re not. 

You may still qualify for the BEST possible rating in some cases! 

Whaaaat!? Yep!

I think this is a critical point to make. You’re not a doctor, and even if you are, chances are you’re not an insurance underwriter (the people who review your case and determine your rating). Otherwise, why would you be reading this post?

This means it’s very likely that you have no idea what a particular insurer considers high risk. 

So, I’m giving you a leg up. 

Affordable High-Risk Life Insurance: You’re Good To GO!

None of the following circumstances are considered high risk.

YES! 

You may qualify for Preferred or Elite rates if you’re healthy and have a great family history!

1. Thyroid Issues

Well, this is good news because thyroid issues are prevalent. As I mentioned above, if your medical condition is well managed and it’s not likely to impact your life expectancy, the underwriters don’t penalize you for it.

If you’re taking a medication like Synthroid and all is well, you’re in a good place from an underwriting perspective. 

It is estimated that 200 million people in the world have some form of thyroid disease. In Canada, a staggering number of people are affected. Recent studies indicate that 1 in 10 Canadians suffer from a thyroid condition of one type or another! Of those, as many as 50% are undiagnosed!

2. Overweight 

Yep, being overweight in and of itself does not make you high-risk.

The issue that faces people who carry around some extra pounds is that they are vulnerable to other health ailments that absolutely WILL make you a higher risk, such as heart disease and cancer.

At Policy Architects, we know the high-risk insurance companies with the most lenient build charts in Canada.

Going with one of these carriers can mean getting a standard rate or paying much more.

If you pick the right insurer, you can save thousands of dollars over the life of your policy! You could pay 50 – 100% more if you pick the wrong one.

3. High Cholesterol 

If you’re adequately medicated and have it under control, you’re not high risk. 

Think about it—this makes perfect sense. Eliminating the issue no longer impacts your lifespan.

So don’t worry! Things will be fine if you take care of yourself and manage your high cholesterol well.

But please be aware that some insurers want to see you with a clean bill of health for longer than others.

4. Elevated Blood Pressure  

Do you see a trend here? You go to the doctor and are diagnosed with high blood pressure…

…you take some medication, knock out the stress, eat better, and voila! Your blood pressure is back to normal.

Life insurance companies don’t punish you for nonexistent high blood pressure. But many companies want you to be on the straight and narrow for six to twelve months.

5. Pilot for a Commercial Airline

Major passenger airlines are very safe despite how many people feel when they fly. You may qualify for preferred or elite rates if you’re a pilot or crew member.

This doesn’t hold for flying small planes, though! Once again, this is all about risk, and private planes aren’t as safe.

6. Well Managed Anxiety or Depression

Your mental health impacts your rates…

…and in fact, severe issues like manic depression and PTSD may even get you declined.

But if your anxiety or depression are treated and under control, the life insurance companies won’t throw you in the high-risk pool.

7. Mild Asthma & Allergies  

So, just to let you know – not all asthma is created equally.

Some people don’t struggle with it the same way as others. You will not be placed in the high-risk applicant pile if you have mild asthma or allergies.

If you have life-threatening asthma, well, now that’s something different altogether.

8. Less Than 3 Traffic Tickets in 2 Years

Some people are shocked that moving violations impact their life insurance rates…

…but think about it. Driving isn’t the safest thing on the planet, and if you’re a speed demon, your chances of getting into a fatal wreck increase.

They give you some wiggle room before you become a high-risk applicant.

9. DUI More Than 5 Years Old 

…and yet another driving-related ding.

Driving under the influence is just plain wrong. When in doubt, use a designated driver. It’s just not worth the risk.

If you do have a DUI and it happened more than five years ago, you have a get-out-of-jail-free card in terms of your life insurance rates.

10. Basal Cell Carcinoma (Skin Cancer) 

Yep, it’s cancer, but it’s slow-moving and not as invasive.

Basil cell carcinoma is the most common type of skin cancer. It doesn’t quickly spread to other tissues and is treatable, so most insurance carriers view it more favorably than the other two forms.

Once your treatment is completed and classified as stage 0, you’ll likely get standard rates, maybe even preferred.

11. Occasional Marijuana Use

If you like to get your buzz on once in a while and smoke the odd joint or use edibles, worry not.

Provided you do not use Tobacco in combination with Marijuana, you are eligible for standard non-smoker rates.  

This means no use of e­-cigarettes, tobacco, or nicotine in any form in the last 12 months.

So, who is considered an occasional pot smoker? Someone who smokes no more than a few doobies a week.

Underwriting in this area is changing! Please read my latest post on Life Insurance and Marijuana here.

“Some of Canada’s biggest insurance companies have updated their policies on marijuana use, and the changes are having a major impact on regular users’ premiums.

With recreational use of the drug set to become legal on Oct. 17, marijuana is moving toward mainstream acceptance, and the slow-moving and stodgy world of life insurance is no exception.” CBC.CA Life insurance companies no longer treating marijuana use as high risk as tobacco

12. Pregnancy 

In most cases,  pregnancy does not affect your life insurance rates.

I know of a 40-year-old woman who is three months pregnant. She received Elite rates!

NOW that’s awesome!

13. The Occasional Cigar

If you smoke 12 large cigars or less per year, most Canadian insurance companies will give you a standard non-smoker rate. However, it’s unlikely you’ll get preferred or Elite rates.

Your biggest problem is finding a place to smoke those stogies!

Affordable High-Risk Life Insurance: Proceed with Caution

Next in line are the situations and conditions that marginally impact your rates.

Sure, you won’t love the increases, but you’re covered, and we can typically get you a standard rate.

Which would be pretty darn good if you asked me!

1. Diabetes

Can diabetics get life insurance? In many cases, yes, but If you’re a diabetic, there are a few things to be aware of.

If you have type 2 diabetes, you have an excellent chance of receiving standard non-smoker rates provided your blood sugar levels are well maintained with medication and you live a healthy lifestyle.

As far as underwriters are concerned, when it comes to life insurance for diabetics, it’s all about control.

They like to see that your A1c levels are well maintained and that you’re proactive about your treatment. A healthy diet, lifestyle, and regular self-testing go a long way towards getting the best possible rates!

Securing life insurance for Diabetics Type 1 is a little more tricky and more expensive.

“Affordable rates are possible for those of you who have your type 1 diabetes in check & under the following conditions:”

1. Strict adherence to medications and testing—Underwriters like to see documentation and proof (medical records) that you’re determined to keep your diabetes under control.
2. There have been no complications or hospitalizations related to your diabetes. However, eye, foot, or skin issues will make it difficult to get decent rates.

NOTE: Be sure to update your doctor (and ask them to amend your files) about any positive steps you’re making to improve your health…

… and don’t forget, your medical records speak for you. This means you should never leave a notation with your physician. They are busy and may not record everything.”

2. At Least 12 Months Have Passed Since You Got a DUI 

Did you have a DUI or DWI just over a year ago?

You’ll be lucky to get a standard rating, but it’s possible.

Stay on the straight and narrow! Insurance companies look at factors such as:

1. Your current age
2. Health
3. DUI history (2 DUI’s within ten years and you’re done)
4. History & Treatment of Alcohol/ Drug Abuse
5. Results of Blood Test for liver enzymes
6. History of moving violations, speeding tickets & accidents
7. Criminal Record

3. You’re a Speed Demon and Received Multiple Moving Violations 

I’m sorry, but if you have had more than four speeding tickets in the last two years, you’re probably considering paying more for your life insurance.

Slow down!

4. Treated Sleep Apnea 

Sleep Apnea is a serious health issue that insurance underwriters weigh.

Rest assured, if your sleep apnea is under control and you’re on a prescribed treatment plan documented by your physician, you have an excellent chance of receiving standard rates.

5. History of Heart Disease 

Do you have a history of risk factors for heart disease? Here are some markers:

• high cholesterol
• extra weight
• type 2 diabetes
• high blood pressure
• smoking

If so, all is not lost. You can still get life insurance but must take the right steps.

The good news is that you have a better chance of being approved if you care for yourself…

You know what I mean! Follow your doctor’s instructions, take your medications, eat a healthy diet, and exercise regularly…

…and for goodness’ sake, stop smoking!

One more thing: Underwriters love notes; the more, the better. Document, record, and write down every little detail. Keeping reliable health records tells insurance companies that you pay attention to your health.

Believe it or not, this can affect your rating. It’s a smart move for anyone trying to find affordable, high-risk life insurance.

However, you’re going to have to manage your expectations: you’re unlikely to qualify for the best rates with a history of heart disease.

6. History of Cancer 

We all know the statistic – one out of every two Canadians develop some form of cancer in their lifetime.

Ongoing breakthroughs in how we treat cancer force life insurance companies to update their underwriting protocols. 

But the good news is many forms of cancer are very treatable, especially in the early stages. Which means cancer survivors live longer than ever. 

When it comes to traditional life insurance, most survivors are required to be cancer-free for a period of years (anywhere from 2 – 10 years), depending on the type of cancer.

If you have a family history of cancer, this also comes into play. Insurance companies divide people into two basic categories.

7. Those who’ve had a family member: 

1. Die of said cancer, or
2. Have life-threatening cancer before the age of 60 or after the age of 60

If you fall into the “before the age of 60” camp, almost all carriers eliminate the “preferred” or “preferred plus (elite)” health class as options.

For those with family members who have passed away or been diagnosed after the age of 60, you are still eligible for the better rates.

Please read my post on life insurance for cancer patients in Canada here.

8. Melanoma 

Melanoma is the most dangerous and invasive type of skin cancer and also accounts for the majority of skin cancer deaths, even though it makes up only 5% of total skin cancers.

If you are diagnosed with malignant melanoma, life insurance underwriters want to know if the cancer is localized or whether it spreads to other tissues.

Let’s hope your cancer is localized and has been surgically removed. If that’s the case, you MAY qualify for standard rates after a 6 to 12-month waiting period. 

Melanoma that has spread and is being treated with chemotherapy or radiation is a different story. You’ll need to be cancer-free for 5 – 10 years to qualify for a life insurance policy at all. 

No medical exam life insurance may be viable (see below).

9. Your Liver Enzymes are Elevated

Do you have elevated Liver Enzymes? Insurance companies don’t like to hear anything bad about your liver.

As far as they’re concerned, this could mean hepatitis, cirrhosis, excessive alcohol use, or liver cancer. Underwriters are most concerned about sustained damage to your liver.

A standard rating is unlikely even if you take care of yourself and test negative for all serious liver pathologies. Your best-case scenario is a rated policy, and your worst-case scenario is a decline.

10. You Had a Mild Stroke 

Obtaining life insurance after having a Stroke can be difficult but not impossible.

Life insurance companies distinguish between a “full stroke” and a “mild stroke.” A” mini-stroke” or Transient Ischemic Attack (TIA) is life insurance lingo for a “mild stroke.”

TIAs tend to recur, so if you’ve had one within the last year, you’re likely to get “postponed” by the life insurance company.

That’s their way of saying, “Come back and see us in a year.” So, if you’ve had a TIA within the last 12 months, your coverage is on hold.

…at least with the traditional carriers. 

One option, another reason to talk to an independent life insurance agent, is to secure a no-medical exam policy to fill the gap while you’re waiting to go the traditional route. Check out my no-exam life insurance article now for more information.

If you’re over 40, healthy, and it’s been a few years since your “mini-stroke” diagnosis, your best-case scenario is the standard rate.

11. Atrial Fibrillation (AFib) 

Atrial Fibrillation, or AFib, is the most common form of arrhythmia (irregular heartbeat) and affects approximately 350,000 Canadians.

Life insurance companies are most interested in your level of control over your AFib. The better managed your AFib, the better your health rating will be.

Underwriters will want to know about the following:

• Treatments completed that helped your atrial fibrillation, such as ablations or cardioversions, and how you responded to them. They’ll want your heart to be in rhythm for at least 12 months.
• Your medications include aspirin, digoxin, metoprolol, warfarin, amiodarone, Dronedarone, and Flecainide.  Taking regular medications over an extended period is seen as a positive sign. However, if you have recently been put on meds, the insurance company will likely take a “wait and see” attitude.
•  Age of diagnosis. If your AFib was detected early on, the likelihood of heart muscle damage is substantially lower, and therefore, a life insurance company may consider that more favorably.

Although Atrial Fibrillation is a serious condition, many people go on to live long and healthy lives.

Primarily, when they work with their doctors and pay close attention to their lifestyle choices, with AFib, you’re looking at a decline in being rated. You’ll unlikely get a standard rating, but it’s possible.

Simplified-issue term life insurance may be your best bet right out of the gate. Again, that’s why speaking with an independent agent with experience with high-risk health conditions is worthwhile.

High Risk Life Insurance Coverage: Stop & Call Policy Architects NOW

Ok, this is where things get a little dicey.

These are the conditions when a life insurance company considers you high risk, and affordable high-risk life insurance becomes a problem.

Did you see how many other situations are NOT? 

I bet quite a few of our readers were pleasantly surprised. For those of you who do not meet this criteria…

…don’t lose hope. We’ve got your back!

1. Uncontrolled Diabetes

If your blood sugar (a1c) level is above 10,  your diabetes is considered uncontrolled, and you will have a very difficult time finding a life insurance policy.

Get to the doctor, and most importantly, listen to the doctor. Take care of yourself, eat healthy, and exercise—baby steps.

You may not be able to turn this train around completely, but you can certainly make a massive improvement—if you’re committed!  

“A healthy diet is also very important in type 1 diabetes, and insulin dosing needs to be matched with the amount of sugar (called carbohydrate) taken in. Being physically active is also key, and insulin often needs to be reduced at times of physical activity.”

Healthy Children Org, Type 1 Diabetes: A Guide for Families, HealthyChildren.org 

2. You have the C-word, and it’s invasive  

First of all, if you’re undergoing treatment for aggressive metastatic cancer, you’re not alone.

There isn’t anyone reading this whose family hasn’t been touched by cancer in some way – we all know someone who has it.

In my case, I lost my mother to cancer when I was a boy.

As far as the insurance companies are concerned, you need to wait a significant period without recurrence before they consider underwriting you.

Every situation is different, and it’s all about assessing risk. The non-medical life insurance market is extremely robust these days, and it’s entirely possible you could find some coverage there.

3. Kidney Disease 

If you have a disorder associated with the kidneys, such as polycystic kidney disease or glomerulonephritis, your chances of obtaining affordable risk life insurance coverage are limited. 

Depending on the severity, related conditions, and complications, you’re looking at a rating or decline.

Best, best, best case? Standard, but don’t hold your breath.

4. You’ve Been Advised to Go for Drug & Alcohol Treatment

DO NOT PASS GO, DO NOT COLLECT $200, GO DIRECTLY TO TREATMENT!

Suppose you’ve been told to seek treatment for alcohol or drug abuse. In that case, you’re looking at least a two-year waiting period after full rehabilitation before any primary carrier will touch you.

After that, there will probably be a rating or decline depending on severity, outcome, complications, and related health problems.

Best case scenario: maybe standard rating after 5 or 6 years.

5. Heart Bypass Surgery, Stents & Angioplasty 

The heart’s a serious business, and insurance companies don’t want to take on risk.

At the same time, modern technology is fantastic. Stent procedures are done the same afternoon you check out.

The thing is, life insurance carriers are wary of matters of the heart. They want to know about any complications before they decide on a rating.

So, for now, you can assume you will be rated or declined.  This may change as scientific discoveries do, but don’t lose hope. Even if you have to wait, it’s still possible to get life insurance for heart attack victims.

6. Hepatitis C 

This is a serious issue.

You are rated or declined depending on the severity of the disease, treatment (medication, dosage), hospitalization or ER visits, and evidence of liver damage.

If your recovery is complete and there are no complications, the best-case scenario is a standard rating.

7. Opioid Pain Meds 

It’s no secret life insurance companies don’t like prescription painkillers like oxycontin, hydrocodone, Percocet, Dilaudid, etc.

WHY?

There is potential for abuse and increased risk when combined with alcohol.

You’re looking at a rating or decline depending on dosage, drug & alcohol history, and how long you’ve been on the prescription.

If you’re on a serious painkiller for a limited time, you may get a standard rate.

8. Received a DUI in the Past Year

Motor Vehicle accidents are one of the leading causes of death in young people, and Insurance companies know this. Sadly, alcohol is often part of the equation.

If you’re under 25, insurers will postpone you for a year.

Multiple DUIs guarantee a decline. However, you might qualify for the standard if you have not had a DUI or careless driving violation for 5 – 10 years.

9. UNTREATED Sleep Apnea 

Untreated Sleep Apnea puts you at risk for all kinds of health issues.

Heart disease, high blood pressure, stroke, and diabetes are just a few of them. Your chances of getting into a car accident go up as well.

Untreated sleep apnea guarantees postponement. Until you’re on a treatment regimen, insurance carriers—including non-medical companies—won’t cover you.

Life Insurance for Extreme Sports & High-Risk Occupations

Like my brother says, “no guts, no glory.” 

People who have High Risk Occupations or participate in risky sports or activities have higher odds of dying prematurely compared to the general population.

That being said, it’s no surprise that the insurance companies make you pay more cash for your life insurance. Higher risks = higher premiums.

Remember, insurance is all about mitigating risk.

1. High Risk Professions

• Fisherman
• Logger
• Pilot (Smaller Planes)
• Underground Miner

2. High Risk Sports

• Skydiving
• Scuba Diving
• Mountaineering
• Hang Gliding

Fun stuff can be dangerous stuff!

So you love skydiving—one of your passions—but now wonder if affordable high-risk life insurance is possible. 

You just so happen to share this information with your independent insurance agent while applying for coverage (because honesty is always the best policy).

As a result, they ask you to fill out a special “skydiving” questionnaire in which you disclose that you’ve been skydiving for 5 years, belong to a skydiving club, and make 50+ jumps a year!

Based on your answers, the insurance company will do one of two things:

1. Apply a rating or “flat extra,” which means you pay extra above the standard rate by a weighted percentage or,
2. Add an exclusion clause to your policy, which means if you die while skydiving, too bad, you’re not covered – your beneficiaries won’t receive a dime!  

hmmmm.

So, what does that mean for my bottom line? 

Let’s do a little example for fun. Our skydiver – let’s call him Coleman – is a 40-year-old male, non-smoker, with no health issues, looking for $500,000 of Term 20 life insurance:

• A policy from a company like Ivari offers him $610 per year at standard rates.

However, because he’s a skydiver:

• He will likely be charged a flat extra of $2.50 per $1000 of insurance on top of the standard rate, which means he will pay $1250 per year more.
• This is $1860 more per year. That’s the equivalent of a 300% rating!

Note: These numbers are for reference purposes only and NOT indicative of rates you personally will receive

Does Coleman have any other options for risk life insurance coverage?  

This is another good reason to use an independent high-risk insurance broker! We go to the ends of the earth to find you the best coverage.

Coleman has more options.

Secure a no-medical life insurance policy from a company like Canada Protection Plan (CPP). Coleman answers “yes” to Question #5 in the last group of questions (Section D): Have you been involved in any hazardous sports within the past two years, or do you plan to do so within the next year? 

As a result, he is eligible for the same coverage, $500,000 of Term 20, for $995/ year.

That’s only the equivalent of a 163% rating, which is much better than 300%…and he’s covered when he jumps out of the plane!

Exclusions

Sometimes, insurance companies only offer high-risk insurance coverage with an exclusion.

If that’s the case, a 50/50 option is an excellent way to have coverage still but save money. For example, when writing this, $250,000 of Term 20 with Ivari, including an exclusion clause, costs $365 per year.

$250,000 of the simplified elite from CPP insurance costs $527.50 per year. If you combine this coverage, the total premiums will be $892.50 per year.

This is approximately $100 less than going 100% with the simplified issue!

This way, if Coleman dies while skydiving, his family still gets $250,000, and with any other cause of death, they receive the full $500,000 death benefit. 

A Case Study

The following is an excerpt from a letter submitted with a Life Insurance application detailing a client’s health conditions.

* Name and specific details changed to protect client anonymity

Subject: Ahmed, a hospital administrator, a 54-year-old male, non-smoker, has the following:

• Diagnosed with early onset diabetes this year, stabilized on Metformin, and routine checkups scheduled quarterly to monitor blood sugar and renew prescriptions
• Elevated cholesterol was maintained with medication for the past three years; the last reading was 2.3, and the doctor wants to get it down to a 2.
• He controlled Sleep apnea for five years and continues to use a CPAP machine beside his bed.
• Moderate to severe tinnitus for six years, taking Duloxetine and Propranolol to manage it.
• Headaches for the past three years helped by Propranolol.
• 50 lbs overweight
• No complications, hospitalization, or ER visits related to these conditions.

So, how was this client rated? 

Drum roll, please!

If your answer is rated or declined, you’re incorrect. This client received a standard, non-smoker rate for his life insurance!

Why?

Three things contributed to Amhed receiving standard non-smoker rates on his life insurance policy:

1. An experienced independent life insurance agent (ahem, Policy Architect) who knew none of these health conditions seriously threatened a person’s longevity. There is a normal life expectancy for someone who has diabetes and high blood pressure if those conditions are kept in check.
2. An experienced independent life insurance agent who knew which companies viewed him most favorably. For example, Carrier A might underwrite his diabetes at a standard health rating, while Carrier B might treat his diabetes as a higher risk and give him a rating (higher cost).
3. An experienced independent life insurance agent whose standard practice is to:

• Submit an ANONYMOUS preliminary underwriting request with detailed information regarding a client’s health to various life insurance companies BEFORE choosing the right one and
• Include a detailed letter to the underwriters during the application process clarifying the client’s circumstances

 No Medical Life Insurance for Higher Risk Applicants

No article about life insurance for high-risk people is complete without discussing no-medical or simplified-issue life insurance. 

For those looking for cheap high-risk insurance, securing a traditional life insurance policy with full underwriting may not be possible.

Whether you have a serious health issue, a previous decline, or some pre-existing condition, no medical life insurance may be your only viable option.

How it works…

There are two types of no-medical life insurance:

• Simplified Issue: You answer a battery of questions to determine what your rates are.
• Guaranteed Issue: There are no questions, and you cannot be turned down for this coverage. The catch? It’s costly, and there’s a two-year waiting period.

To get coverage, you answer a series of “yes” and “no” questions organized in sections. The farther you get through the application process without answering “yes,” the more coverage you qualify for at the best rates. Answering “no” to all the questions is the best-case scenario.

Surprise! It’s USUALLY more expensive than traditional insurance with full underwriting. But you already know that because you read my blog!

If You Have a Serious Medical Issue

This isn’t always true if you have a more serious medical condition. 

For example, if you have well-managed diabetes, you’ll likely receive a rating from a traditional life insurance company.

No medical life insurance is often less expensive than RATED coverage from a traditional carrier. 

There is a rub, however. The maximum coverage amounts are lower than the major insurance companies offer.

Again, an independent insurance agent can help you vet traditional insurance carriers and also decide if simplified issue life insurance is a good option for you. 

Some well-known No Medical life insurance companies in Canada include Canada Protection Plan, Industrial Alliance, Humania, Assumption Life, Specialty Life Insurance, and Wawanesa Life.

Find out more about no exam life insurance here.

 Policy Architects Specializes in High Risk Policies

If you’re looking for affordable high-risk life insurance quotes, you likely have a health issue you’re worried about.

There is no better way to find a policy that suits your needs than to enlist Policy Architects’ help.

We’ll look at your circumstances, analyze your needs, and review the companies that suit you best. 

Did you know there are more than 30 carriers in Canada that you should consider?

Hmmm, contacting even 20 of them is a serious time commitment.

Get Quotes from Multiple Life Insurance Companies Before You Decide

So, if you’re looking for affordable high-risk life insurance, why not make just ONE call to us? We work for you, not the insurers. Call us today at 1.888.501-9583.