Are You A Canadian Senior? Consider Seniors No Medical Life Insurance

| December 1, 2013

In Canada, The National Association of Funeral Directors estimates that average funeral expenses are more than $6,500. In many cases, final expenses can be over $10,000. When most Canadians enter their senior years, it is a time when they begin to consider whether they have saved enough to leave a legacy for family and pay for their final expenses. If you are over 50 and want to ensure financial security for your loved ones after passing on, one easy solution is to acquire seniors no medical life insurance.

Whether you are over 50, 60, or 70, having life insurance to protect your family financially by providing the funds to pay off bills is very important. To provide the funds for your loved ones to cover final expenses, pay any bills you leave behind, and give them a special financial gift, seniors no medical life insurance is the ideal solution, especially if you have not have saved as much as you would have liked.

Features of Seniors No Medical Life Insurance

There are leading Canada insurance companies offering seniors no medical life insurance. An insurance broker specializing in this type of life insurance works with these leading insurance companies. Their relationship with these insurers provides access to a variety of no medical life insurance policies Although policies can vary a bit, general features of a seniors no medical life insurance policy includes:

Guaranteed Acceptance: Canadian seniors are guaranteed acceptance if they are Canadian Citizens or Permanent Resident/landed immigrant between the ages 50 and 75.

No Medical Exam: Seniors are not required to see a doctor for a medical exam. There are no medical reports required and no blood or other samples are required.  They just have to answer a few simple health questions.

Optional Coverage Amounts: Seniors can buy a coverage amount that meets their needs. The amounts can vary from approximately $2500 to $25,000, and even more.

Premiums And Benefits Never Change: Coverage can never be cancelled by the insurance company as long as monthly premiums are paid. Also, premiums will never go up.

Policy Review Period. If you change your mind, policies come with a set review period such as 10 or 30 days. You will get a full refund if you cancel your policy within that time period.

Other Benefits: A policy can come with other benefit options such as Accidental Death Benefit. In the event of accidental death before a certain age, a beneficiary can receive up to five times the basic coverage.

If you are a Canadian over the age of 50, you may think it is difficult getting enough life insurance. For many Canadians, it is important to ensure they do not leave a financial burden behind after they pass. This means making sure they have left enough money to cover their funeral and burial expenses, help beneficiaries cover any capital gains tax when they inherit the estate, and leaving a financial gift to loved ones. Seniors no medical life insurance guarantees insurance protection for life. This type of life insurance makes it easy to leave loved ones something special to remember you. They can use the proceeds from the seniors no medical life insurance policy to provide them with extra financial security, contribute towards their children’s education, or do something special. With seniors no medical life insurance, you can feel confident that your loved ones needs will be met when you pass on.

At Nomedicallifeinsurance.ca will specialize in seniors no medical life insurance. Visit us today to see how we can help you obtain the best insurance quote in Canada

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