Life insurance is broken down into two integral types. These are ones, which are medical Vs Non-medical life insurance. The latter one is also known as No Medical exam life insurance. Obviously, the difference is paramount. Importantly, as in medical life insurance. Thus, you need to take a medical exam. An exam obviously, which relates to the history. That is the medical history of the person. Thus, opting to take that insurance. While in the other one. Obviously, the applicant is exempted. That is, from the medical history. Hence, this makes it the best no-medical life insurance in Canada. The best no medical life insurance companies shall also be part of this document. Thus, it will focus more integrally. That is, on the major differences.
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MEDICAL LIFE INSURANCE IN CANADA & WHAT EXACTLY IT IS?
Called the fully underwritten life insurance is the medical life insurance. The policies can even take a comprehensive look. That is, at your overall health. Apart from this, the medical history. The name that it gets is from the common requirement of needing a medical examination. Obviously, as this exam is life a health physical. Furthermore, only takes about 20 minutes.
Things also depend largely on how much life insurance are you willing to purchase. Thus, apart from your answers to a few health questions. Definitely, you could qualify without a medical exam.
THE NON-MEDICAL LIFE INSURANCE:
The non-medical life insurance. Hence, is also known as a no-medical exam life insurance. Something, which doesn’t require a medical exam. Obviously, as part of their application process. Which means for most obvious reasons. Hence, that the company doesn’t need to know your medical history. Thus, before granting you a life insurance cover. Aren’t fully underwritten because are non-medical policies. Obviously, the approval times can even be much faster.
Obviously, there are few downsides. Thus, as well that are related to the no-exam life insurance typically. They aren’t available to older applicants. Apart from this, it costs significantly more than medical life insurance.
WHY MOST INSURANCE COMPANIES NEED TO KNOW THE MEDICAL HISTORY?
Most of the insurance companies need to know the medical history of the applicants. Thus, that are willing to apply for an insurance cover. This medical history is important for the sake of making an analysis of the medical risks. These are the ones, that relates to the patient’s history. A non-medical life insurance doesn’t necessarily need that. Thus, as a non-medical insurance Canada shall be looking deeply. Obviously, into the medical history of a person. Furthermore, how that history varies from one person to another person.
Making an analysis of the risks scenarios. Thus, is something that is worth the difference. The higher the risks, the higher is the insurance premium. Furthermore, its vice-versa as the associated risks are the ones. Especially, that needs a deeper analysis of the situation.
THE BEST NON-MEDICAL INSURANCE COMPANIES:
The companies in Canada, that is the best no medical life insurance Canada. Something, that offers non-medical. Otherwise, no-medical life insurance. Obviously, includes ManuLife & BMO life. Also, Equitable Life, RBC Life, Family Compass & CAA. Apart from this, the Canada Protection Plan & Industrial Alliance. Also, the Edge Benefits, Foresters & Wawanesa Life. Apart from these, its Gerber Life, Desjardins & PlanDirect. Finally, its Hunter McCorquodale, LaCapitale, Order of United Commercial Travellers (UCT) & Specialty Life.
LIFE INSURANCE & THE VARIOUS GROUPS:
Divided into traditional Vs Non-Traditional as the life insurance is. Furthermore, this division or this is the difference that is regards to non-medical insurance companies Vs Medical. Some companies prefer to have non-medical. Hence, while the other prefer to have medical.
THE MEDICAL HISTORY & PRE-EXISTING CONDITIONS:
The medical history and the Pre-existing conditions. Thus, matters in life insurance which is the non-medical life assurance. ‘Assurance’ is obviously another name for insurance. Obviously, as most of the companies wanting to know the pre-existing conditions. Hence, are willing to know everything. Obviously, that relates to customer’s medical history.
It is similar to an existing condition. Also, the medical history relates to the future decision making of companies. Ones, who are willing to give the insurance cover. Subjected to conditions as they are.
Obviously, as while making a decision to select a candidate. That is, for an interview. Otherwise, making a selection of a candidate for a job. His academic history is something that is really important to know. Similarly, it is the medical history that is the most effective thing. Hence, while undergoing such a process. Even the best non-medical insurance companies might be interested in knowing. That is, some basic details. These are ones, that matters. Hence, regards to an individual’s past medical record.
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RISK ANALYSIS IS A BASIC THING IN INSURANCE INDUSTRY WORLDWIDE:
Talking about the insurance companies & medical vs non-medical. That is, for the non-medical insurance Canada & best no medical life insurance Canada & worldwide. Obviously, it is the risk analysis that matters for the people. Whether, it is life insurance, home insurance & real estate. Also, mortgage insurance. Furthermore, all kinds of commercial. Apart from this, non-commercial insurances. As well as dental insurance. Risks that are analysed. Obviously, are there in all kinds of insurance. That is, for the sake of making useful assumptions. Hence, prior to decision-making.
This risk analysis is done to some extent. Thus, depending on the type of insurance that is needed. Therefore, what’s necessary prior to taking an insurance policy. Even for non-medical insurance Canada. Thus, is to analyse the risk needs. Also, can even be called as priority risk assessments.