Tag: automobile insurance

Life is full of surprises over which we have no control…and life insurance has got to be a part of your plan, whether you like it or not. For many people, medical exam is one of the most headache-inducing parts of the life insurance application process. Sure, those pesky medical exams may seem to stand in the way, but did you know that even though you’re hard to insure or have been declined, there is still coverage available to you? Yes, you read it right! Some insurance doesn’t need medical exams! Here’s what you need to know…

But What Is No Medical Exam Insurance?

Before I dive into the reasons why you should consider a no medical exam life insurance, let’s start with the basics. Most people purchase life insurance to secure the financial stability of their loved ones after their death. However, buying an insurance plan can be very challenging for several reasons!

Many insurance companies would want to assess the risks involved in insuring you through strict medical exams. The good news is that some insurance companies also provide life insurance policies without the need to go through all the medical exam stuff to qualify (ideal for those scared of doctors, needles and anything doctor-ish). But how do these policies differ from those that require a medical exam?

Get Rid of Useless Stress

Without a doubt, obtaining life insurance by bypassing medical examinations and medical history checks can be a real solace. You no longer have to bother scheduling a visit with a nurse, fasting for 12 straight hours and trying to have a healthy diet in the days leading up to the exam (oh yes, you can use these tips to ace your medical test if you decide to go that route).

And who says no medical checks says no needle to suck up your blood (doctors won’t steal your blood), no need to provide a urine specimen, no scale to take your weight (your weight can be kept a secret) and no blood pressure meter thing on your arm! However, no medical exam policies still ask your health history and look at your public reports.

You Are Fully Covered Without Any Fuss

Whether you are suffering from depression, life-threatening cancer (or any other illnesses) or you are overweight or a heavy smoker or simply happen to have a risky job; you might have a hard time finding an insurance plan that uses a comprehensive underwriting process! Why? Based on your family’s medical history, age and physical and mental health, insurance brokers often assume that there is a higher chance you will die during the term of your life policy. They might charge higher monthly premiums, or worse, your insurance request can get rejected. (Yes, unfortunately, insurance can be harsh and ruthless!).

Thankfully with No Medical Insurance, you can benefit an insurance plan anytime! From leaving your loved ones a financial legacy, paying off lawyer’s fees, taxes and outstanding loans to covering final expenses (such as funerals or cremation costs), you are fully covered without any fuss! However, if these circumstances don’t apply to you and you want to cover more than just the final expenses, then medical exam life insurance is probably not for you. Young, healthy people with families generally need enough life insurance to pay off debts and provide some income support for their spouses and children.

Protecting Your Little Ones’ Future

Purchasing No Medical Child Insurance guarantees your kids’ future and insure them against unforeseen events, even beyond your lifetime. It offers financial security, flexibility and a head start for any financial need in life, whether it’s education, buying a home or starting a business.

Oh-So-Convenient!

If you can’t have fully purchased life insurance but need coverage over $55,000, term life insurance without a medical exam is the best option for you! This insurance policy offers a maximum term of 30 years and can generally be purchased up until you turn 75, although some insurers limit the term based on your age. What’s more convenient than that?

Available Riders

Most life insurance policies without a medical examination include built-in riders. These riders are frequently described as “living benefits.” This means that having life insurance with a living benefit allows you to kind of speed up your death benefit while still alive. In other words, death is not necessary for life insurance to payout (which is a tremendous advantage). Thanks to modern medical technology, you could survive a heart attack, but could you afford it?

Secure the Policy You Need in A Jiffy

Life insurance policies without a medical examination tend to be processed more quickly. Numerous policies can be instantly issued or within 48 hours, and thus, you can say goodbye to the long and tedious waiting hours and days for your lab results to come back!

Are you looking for no medical and simplified issue life Insurance in the surrounding of Toronto and the GTA? Contact Nonmed Insurance Inc. to have your own personal plan!

Why do I need to get insurance?

Insurance is essentially preparing for the eventuality of a disaster striking. And while some disasters can be predicted, such as floods or storms, others give little to no warning. Since calamities can happen at any time of the year and on different scales, you may find all your savings being drained because you didn’t make any prior arrangements to safeguard you from a catastrophe.

Hence, getting insurance well ahead of time protects you during these situations, gives you peace of mind and covers your family if ever something happens to you. It can also help you own a home and car, maintain your standard of living if ever you are the victim of an accident and become disabled, or have a critical illness. You can also rely on it to pay for medical bills or to provide for your family in the event of a death. That’s why we recommend being proactive and taking out insurance to protect yourself, your loved ones and your assets.

To help you in the process of choosing the most appropriate insurance for your needs, we’ve put together a list of insurance policies that you should consider taking and those we believe you can do without.

Life Insurance: Get it.

There are two types of life insurance: whole life insurance and term life insurance. The term ‘whole life insurance’ is pretty self-explanatory: it covers you for your entire life. Usually, the cash-out at death is fixed, which means you have a guaranteed premium, interest rate, and death benefit. You can also borrow loans against this type of policy.

Term life insurance, on the other hand, is exactly what it sounds like—the life insurance covers only a specific term, which can last anywhere from five to thirty years. In this category though, the policy pays a death benefit to your beneficiaries only if you pass away within that time period. It is generally the most affordable type of life insurance.

Extended Warranties: Not a priority.

An extended warranty is a type of insurance that is meant to cover a host of appliances and electronics. However, this type of insurance is rarely used by customers. This is mostly because reputable products tend to work as advertised. The warranty you paid for will, therefore, most likely be unnecessary.

Health Insurance: Most definitely!

Statistically and historically, the main reason people in some countries file for bankruptcy is because of medical issues. Health insurance can offer the financial protection you may need both for unexpected health needs and for extras such as regular trips to the dentist or the need for glasses. Since medical insurance can help protect you from high medical costs, choosing to get one reduces the risk of going bankrupt.

Car Rental Insurance: Only in some cases.

Car rental insurance can be an overkill if you already have health insurance. Additionally, if you already have a car insurance policy that covers rental, you’ll be paying for the same thing twice. So, check the policies you already have, including homeowners’ or renters’ insurance.

You can consider getting this type of policy if you don’t have any policy that already covers you, if you are traveling abroad or if you are traveling for business and your company doesn’t cover rental insurance.

Automobile Insurance: This is a must.

As mentioned above, car insurance can also cover you for car rental. While in some countries getting automobile insurance is required by law, you should consider getting one even if it is not the case where you live. This policy will cover you if you are subject to a lawsuit for an accident you have been involved in and where someone got hurt or where their property was damaged.

This is the type of policy you do not want to skimp on. Accidents can happen at any time and anywhere and can end up costing quite a lot.

Flight Insurance? No!

Unless you are traveling somewhere that requires you to be covered by one, skip it. Despite what the media will have you believe it is extremely rare for airplanes to be involved in accidents.

Besides, the life insurance policy you’ve got will provide necessary coverage in the event of a catastrophe. In almost all cases, flight insurance coverages are completely redundant.

Homeowner’s Insurance: Don’t think twice about it, go buy one.

Because buying a new house or repairing one are expensive options, consider getting a policy that makes the repairs process less difficult. This form of property insurance usually provides coverage for the following: loss or damage of personal assets, interior damage, exterior damage, and injury that arises while on the property.

Contact an expert to get an accurate estimate of how much it will cost to repair or replace the house.

Unemployment Insurance: Not worth it.

While this coverage will partly pay some of your bills if you are out of work, there’s also the possibility of you never being out of work and hence never using that money. It would be a better idea to create a savings plan and an emergency fund instead. If you are unemployed for some time, you can draw from that fund to sustain you during that time. Otherwise, the money stays in your bank account and you can always use whenever you need it.

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