Typically, life insurance plans require you to take a blood test among required steps and certifications. The cost of an insurance policy can vary depending on the blood test results. Things as common as blood pressure issues can affect your life insurance premiums. Is it possible to get a policy without a blood test?
How does a blood test affect buying insurance?
When the insurance companies ask the candidates to take a blood test, they usually look for high blood pressure, signs of drug use, cholesterol levels, and blood glucose levels. If the blood pressure, blood sugar level, or cholesterol, among other things, vary from the standard limit, it is likely to increase the cost of insurance premiums.
The ideal conditions include:
- Having cholesterol of 220 with an HDL ratio of 4.5 or less.
- Having blood pressure under 130/80.
- No traces of any drugs in the body.
A blood test enables the insurance provider to gauge the risk they are undertaking and charge you accordingly. However, if you are aversive to invasive methods or wish to avoid taking a blood test, you can choose an alternate option.
Can I get no blood test life insurance in Canada?
If you are aversive to invasive methods like taking a blood test but still want to get life insurance, you might find yourself asking the above question. The answer is yes. There is a way to get no blood test life insurance in Canada. It is called simplified issue life insurance.
What is ‘simplified issue life insurance’?
Simplified issue life insurance is also called a no-medical life insurance policy. As the name implies, it does not require you to take a medical exam; instead, you are just required to fill out a short and standardized questionnaire. The premiums of simplified issue life insurance can be higher as the insurance company takes more risk than when it requires a medical exam.
Simplified life insurance is a straightforward and quick method to provide you with insurance coverage. If you are a Canadian looking for a hassle-free and delay-free method to get insurance, simplified life insurance is what you need.
Key benefits of getting a simplified life insurance policy
- It does not matter if you are doing a high-risk job; you can still get simplified life insurance.
- You can get simplified life insurance even if insurance companies have rejected you because of your health issues.
- If you are scared of needles or do not feel comfortable sharing your medical records, simplified life insurance is the answer to these problems.
- Simplified life insurance is an excellent option if you face a time restraint and cannot wait for the result of medical exams and other processes required by other types of life insurance.
How to get the best Simplified Life Insurance in Canada?
Companies that provide simplified life insurance require you to fill out a simple, standardized questionnaire without medical underwriting. Various tools and software online allow you to fill in the essential information in the questionnaire and show you insurance quotes from different insurance companies in Canada.
To find the best insurance plan, we will advise you to use such software and use it to compare your options. You will find those different companies asking for different monthly and yearly insurance premiums for the same amount of information. Your first task is to determine what amount of an insurance premium will be the most feasible for you and shortlist the insurance companies within that range.
Once you have decided on the insurance premium amount, you are willing to pay. The next step is to take a look at the purchasing process. You will find that some companies have a more transparent and simplified insurance purchasing process than others. We adopt a customer-first approach when it comes to selling insurance and make sure that our customers are well-guided and aided through the process of buying insurance.
Insurance quotes
To give you a better idea about insurance premiums in Canada for getting simplified life insurance, the following are a few insurance quotes offered by different insurance companies in Canada. The amount of premiums can vary with gender, age, and the quoted health status. The following premiums are calculated for a 35-year-old male, a non-smoker who lives in Ontario and wants to apply for an insurance amount of $500,000.
| Insurance Company | Yearly Premium | Monthly Premium |
| Foresters Financial | $3335 | $300.15 |
| Sun Life | $3760 | $338.40 |
| Alliance Life Insurance | $4015 | $361.35 |
| SSQ Insurance | $4145 | $373.05 |
| Assumption Life | $4280 | $385.20 |
| Wawanesa Life Insurance | $4420 | $397.80 |
Get your Canada insurance quotes and personalized insurance plan, advice by contacting Insurance Direct Canada now.
[…] Typically, life insurance plans require you to take a blood test among required steps and certifications. The cost of an insurance policy can vary depending on the blood test results. Things as common as blood pressure issues can affect your life insurance premiums. When the insurance companies ask the candidates to take a blood test, they usually look for high blood pressure, signs of drug use, cholesterol levels, and blood glucose levels. […]