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Stewart Financial Services
- Protecting Your Financial Health
Limited/No-Medical Evidence Life Insurance
Uninsurable? Can't get Life Insurance? It takes more than money to get traditional Life Insurance. It takes health and a healthy lifestyle. If you have experienced a problem getting Life Insurance due to poor health or other reasons that affect insurability then you may want to consider applying for a policy that requires a few yes or no health questions, and no medical exam is required.
The Insurance market offers a few variations of this product, but essentially it comes down to the Insurance company providing additional opportunities to provide Life Insurance coverage to you. There are minimal medical questions and most people can qualify. The cost is higher than traditional Life Insurance, but it is a very valuable tool for those people who need it, but cannot acquire coverage through traditional means.
Roughly 4% of all Life Insurance applications in Canada are declined each year. This represents an estimated 35,000 policies and $7 billion coverage. 80% of these declines are due to medical reasons*.
*Source: www.hunter-mccorquodale.com (2008)
As you grow older, it can be difficult, or in many cases even impossible, to get affordable Life Insurance – especially if you have significant health issues. To make matters worse, many people who have Life Insurance through their employer’s group plan may lose that coverage when they retire; leaving them without protection at the very age they may need it most.
| If you are about to retire or leave your group plan, call Stewart Financial Services to understand your Life Insurance conversion options. |
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Perhaps you want to ensure that your debts do not become a burden to your family or give your spouse an extra financial cushion. Or maybe, it is just that you want to pass along a little something to your children, grandchildren, or to your favourite charity. Regardless of your reasons, a Limited/No-Medical Life Insurance plan, with its excellent features and benefits, offers you one of the easiest, most economical ways to obtain the extra financial protection you may need.