General Questions
What is No Medical Life Insurance?
In order to be accepted for a life insurance policy, the insurance company will ask for a medical exam to ensure you’re not at risk of disease or have a history of drug or alcohol abuse. If you’ve been denied life insurance for any reason, this is where no medical life insurance can come in.
You don’t have to undergo a medical examination or worry about being denied life insurance because of a pre-existing medical condition. There are many benefits to purchasing a no medical life insurance plan, one of which being that you do not have to pay higher premiums just because you have a health condition, particularly if you work with an experienced individual life insurance broker like Maple Bay. We can guarantee that you will not end up having to pay a fortune or having to wait a long time to be accepted by an insurance company.
For more information, please click the link below:
https://www.maplebay.ca/everything-you-need-to-know-about-no-medical-life-insurance/
What does life insurance cover?
It can help cover some of life’s biggest expenses, like a home mortgage, debt, your children’s college tuition, and it can also replace lost income. Your policy can also help cover everyday expenses—anything your beneficiaries need, really. Ultimately, it’s up to them to decide how to use the payout.
How much coverage do I need?
The answer varies and there really is no right or wrong answer. It will end up depending entirely on what you’re looking for. There are also no limits as to how much life insurance you can buy, but you need to take your budget into consideration.
In general, experts may end up recommending getting life insurance that is worth 7-10 times your annual salary in order to ensure your family is thoroughly protected. For example, if your annual salary is $50,000, you may want to consider coverage upwards of $500,000. Depending on your lender, a $500,000 plan can end up costing you approximately $30 per month, but it’s worth noting that you shouldn’t try to add the figures yourself. This is why you should work with a professional and individual insurance broker,
What is simple issue Critical illness Insurance?
Simple Issue Critical illness insurance provides a lump sum cash payment to individuals that develop a disease named in their policy.It’s called a living benefit because you do not need to pass away to make a claim.In most cases, the insured is also the beneficiary so you can receive a tax-free lump sum of money that defrays your temporary loss of income, medical treatments, need for respite or specialty care, and more.
To learn more, read this article:
Does Life Insurance ever expire
It depends on the type of Life Insurance you purchase. Please read the following article for more information:
https://www.maplebay.ca/does-life-insurance-ever-expire/
Can I speak with a real person?
Yes—we’re happy to assist and support you anytime. You can get in touch with our customer success team by sending us an email at se*****@******ay.ca.
Am I covered if...
Can I get Life Insurance if I have a dangerous job?
Yes!
Having a job that is considered dangerous will definitely increase your chances of being denied typical life insurance. Why? Because you could die unexpectedly before your life insurance term comes to an end. But at Maple Bay, there’s a Life Insurance plan for everyone. We say yes when others say no.
Dangerous jobs are considered as follows:
- Construction workers
- Pilots or flight engineers
- Miners
- Loggers
- Lumberjacks
- Truck drivers
- Commercial fishermen
- Power line installers/repairmen
- Steelworkers
- Farmers
- Roofers
- Arborist
- Etc.
Can I get Life Insurance if I engage in dangerous activities?
Yes!
Do you play extreme sports that put your life at risk and were denied by life insurance companies? You can still be covered with Maple Bay’s no medical life insurance, particularly if you participate in the following:
- Skydiving
- Scuba diving
- Rock climbing
- BMX racing
- Big wave surfing
- Mixed martial arts
- Hang gliding
We say yes when others say no.
Can I get Life Insurance if I have a history of substance abuse or a criminal record?
Yes!
Having a criminal record or history of substance abuse, will have typical life insurance companies denying you right away.
At Maple Bay, you can qualify for no medical life insurance if you have not been charged, incarcerated, on probation, or have been awaiting sentencing in the past twelve months. In fact, if you haven’t done these things in the past three years, our Maple Bay team can help you qualify for up to $500,000 coverage so all you have to do is worry about moving forwards and not being judged by your past.
Have you previously struggled with alcohol or drug abuse? Again, Maple Bay’s no medical life insurance applications will not judge you based on your past. You can qualify if:
- In the past twelve months, you have not used drugs or been in a treatment facility
- In the past three years, you have not used drugs, received medical treatment or advice, or been to a treatment facility.
Life Insurance Solutions
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We have helped thousands of clients understand the ways insurance can positively impact their quality of life. See what our insurance broker can do for you. Give us a call today.
