Detailed Application and longer approval process

Fully underwritten life insurance is a traditional form of life coverage that requires a comprehensive review of your health and lifestyle before a policy is issued. It’s considered the most detailed and personalized underwriting process in the insurance industry and is often used to determine both your eligibility and the premium you’ll pay.

How It Works

When applying for a fully underwritten policy, you’ll be asked to:

• Complete a full medical questionnaire covering your health history, current conditions, medications, and family medical background
• Undergo a medical exam, which may include blood and urine tests, measurements like height and weight, blood pressure, and more
• Grant access to your medical records, or have your doctor complete an attending physician statement (APS)
• Provide lifestyle information, including smoking habits, alcohol use, travel history, and occupation

The goal of this process is to provide the insurance company with a full picture of your health risks. Based on the results, you may receive standard rates, be offered higher rates (if deemed higher risk), or be declined altogether.

Approval Timeline

Unlike simplified or no medical policies, fully underwritten applications typically take longer—often 4 to 6 weeks, depending on how quickly medical information is received. It’s not an instant process, and approvals are not guaranteed.

Who It’s Typically For

Fully underwritten life insurance may be a good fit for individuals who:

• Are in excellent health
• Want higher coverage amounts (often $1.5 Million +)
• Are looking for potentially lower premiums based on favorable health status
• Don’t mind waiting several weeks for approval

It’s commonly chosen by those seeking long-term financial protection for large obligations—like income replacement for young families, large mortgages, or business needs.

Things to Consider

While the potential cost savings can be attractive, the medical exam and extended approval time are significant factors to weigh. Many Canadians prefer to avoid the complexity, delays, and uncertainty that come with full underwriting.

That’s where simple issue life insurance becomes a great alternative. It offers fast, convenient coverage without the need for medical exams or lengthy paperwork—making it ideal for people who want quick protection, flexible options, and peace of mind without the wait.