Assumption offers whole life and term insurance without a medical

By Andrew Rickard | November 03 2016 11:30AM

Photo: Freepik

Assumption Life launched its No Medical Life Insurance product suite yesterday.

The insurer says its new No Medical coverage is meant to appeal to those who are in good health but who do not wish to undergo medical exams, as well as to people who are suffering from conditions such as diabetes, cancer, and heart disease.

Both whole life and term insurance are available under the No Medical lineup. Coverage may begin immediately or clients may opt for a version where the death benefit is

deferred for the first two years; there are 17 questions for those who want immediate coverage, and 8 questions for deferred coverage. Assumption says the application is "clear, simple and fair" and does not contain any "trick questions".

Policies are issued within 48 hours, and coverage amounts range from a minimum of $10,000 to a maximum of $250,000 depending on the type of policy. The products come with a living benefit provision that will pay 50% of the face value should the insured be diagnosed with a terminal illness at least 180 days after policy issue. More detailed information is available at

Assumption says the No Medical line has made its simplified-issue InstaTerm product redundant, and stopped offering it effective October 28, 2016.

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