Thank-you for visiting NoMed.ca's Squidoo Page . We are Licensed Insurance Advisors specializing in No Medical Exam Life Insurance as well as traditional insurance plans for residents of Canada.

We don't just sell insurance plans for one insurance company, we represent numerous Canadian insurance institutions, therefore in many cases the premiums we can offer you are the lowest in the country. Our plans range from $1,000 to over $5,000,000 of coverage.

All policies sold by NoMed are guaranteed by both the underwriting insurance company and by Canada's Consumer Protection Plan. In addition, each plan is over seen by the Ministry of Financial Institutions in each province and territory.

* All benefits are 100% tax-free
* All policies have a 10 day money-back guarantee
* All no medical policies are issued by long standing Canadian companies
* All policies provide at least 30 days of grace so that your coverage does not end immediately if you are late in your payment

You need to buy a life Insurance. After much hassles you plan what kind of policy you want for what term. Now it would be nice to answer some questions truthfully and get your insurance policy without under going a cumbersome Medical exam.But alas your agent politely asks you to get a Medical Exam. Have no doubt the underwriters in the life insurance company are fully within their rights to request the medical examination because they want to know about your true medical situation and ensure that you are not suffering from any life threatening disease.No Medical Life Insurance provides an opportunity to get an insurance that caters to your needs without making you go through the hassles of a medical exam.

No Medical Life Insurance is a type of life insurance that doesn't require a doctors visit, medical report or medical exam.

Now Who all can apply?

Persons aged 20 to 80 can apply for ten year term, twenty year term or permanent plans. You can find special insurance packages for to help
protect you and your family even if:

* You are hard to insure
* You have been declined in the past
* You are a smoker or non-smoker
* You are overweight
* You are afraid of blood exams and needles
* You have diabetes, high blood pressure or high cholesterol

So go on get a No Medical Life Insurance that caters to all your life insurance need.

With the amount of different policies in the Life Insurance market, you probably are not aware that there are just 4 main types. They will vary from company to company and state to state, but, on the whole there are four defined types of Life Insurance policies. These are:

1.Whole Life Insurance
2.Term Life Insurance
3.Variable Life Insurance
4.Universal Life Insurance

#Whole Life Insurance
Whole Life Insurance and Term Life Insurance (see below) policies are very similar. The main difference is that if you choose to take up a whole life insurance policy, then this policy will cover you fro your whole life and not a fixed amount of time. Your premium will be at a fixed amount when the policy starts and the life insurance company that you are paying will generally invest a percentage of your monthly premiums, this is in a number of areas including stocks and bonds. Some companies actually share the proceeds of the investment and issue a dividend to the policy holder each year, but this is become less common in new policies.
One main disadvantage to having a whole life policy is that it is not useful to you when you retire, and that you will still have to continue paying the premiums into your old age. Additionally, as you get older you may develop illnesses or other dependant costs and payments, which this policy does not take into account. So, if you started your policy at age 25 and ended up retiring at 60 with 12 children, 2 houses and 3 mortgages, the policy would still treat you as if you were single and have no assets as you were at 25. So, when you die the pay-out to your family is generally lower than what they need to pay any bills and funeral costs. Recently, however, many insurance companies have looked at the whole life policy and adapted it with other policies to meet the needs of the policy holder, and to meet the changing market.

#Term Life Insurance
Term Life Insurance is considered to be the most simplest of Life Insurance policies and so has become the most popular. The policy will run for a fixed amount of time, say 5, 10, or even 20+ years â%u20AC" it will also have a monthly premium at a fixed price too. Should the policy owner die during its period then the nominated beneficiary will be paid the full rate of the policy. The company will not invest any of the money for policy holder gain and will act as a deposit account to save the money should the policy holder die.
Many term this type of policy to be 100% risk free, but, if the holder of the policy is still alive when the policy expires then all premiums and monies paid into the policy will be kept by the insurance company. So, this policy simply protects the holder's family from paying for bills etc should the person suddenly die during the period of the policy this is why many of the policies that are available on these terms have very low premiums.
If you have one of these policies and it comes to the end of its term, then you do have the option to renew it, however, you will need to pay a revised premium and many times this cost will be more than double the price of your current premium causing it to be a major disadvantage in this type of policy.

#Variable Life Policy
This type of policy involves the wider selection of different investment products, such as stock funds, and is one of the more popular types of life insurance policies for people to take due to its ability to be adaptable to many people in different situations. Operating similar to a universal policy (see below), holders will receive a return on investment from money that the life insurance firm has paid out to stock funds. With these types of policies, you are able to mix a variable amount from different policies and beneficiaries receive the full face value of the policy and generally a cash payment from the account where funds have accrued.

#Universal Life Policy
A Universal Life Policy is generally added to the Variable Life Policy types above, but it does have some unique elements that make it a life insurance policy in its own right policy holders can choose their investment type, whether stock, bonds, or mortgages. The insured person also decides on the insurance amount to be covered by and the company helps them make the decision of where to invest. A cash value is put on the investment and any dividends earned are paid into the account of the policy. This means that any premiums paid into the account can be set against the premiums that the policy holder pays, or can be left to accrue for years to come.

So, you now have all the information you need on the different types of life insurance policies that you can take out. The main point here is to go and do some more research on which one is best for you!

From http://www.lifeinsurance-info.com

There are many mistakes that can be made when considering long-term care insurance, and some of them can be very costly.

Some of the most common mistakes include only getting quotes from one company, assuming knowledge of long-term care costs when no real research has been done, relying on someone else's opinion of what policy design is best for your circumstances, and so on.

All of these mistakes can prove to be expensive. For instance, I often see consumers who just don't want to put in the time and effort necessary to learn about long-term care insurance choices. As a result, they will often take the first policy offered to them without really shopping around. They may put in an application with the first insurance agent who contacts them even if that agent only represents one company.

This is rarely a good decision as premiums can vary considerably from one company to another depending on the consumer's age, health, and coverage needs. Without making a comparison between the top carriers in the long-term care insurance field, there is no way of knowing whether you have gotten the best deal possible.

However, the single most common and expensive mistake that many consumers make with long-term care insurance is to simply procrastinate making any decision at all.

They may have heard that long-term care insurance is a good thing, and so they investigate the cost for themselves. But once they have all the facts and figures necessary to make an informed decision, they just decide to put it off for a while.

Unfortunately, deferring the decision for a year or so often turns into several years. In the meantime, the insurance premiums they were originally quoted no longer apply as this insurance gets much more expensive the longer you wait to get it.

In addition, they often develop illnesses that at the very least will lower their rate classification and make their premiums increase. In some cases, their health may even deteriorate so rapidly and unexpectedly that they are not insurable at all with any reputable carrier at any cost. They may complain about the insurance companies but the fault is not with the carriers. What they have done is similar in nature to waiting to purchase homeowners insurance until their house is on fire. It's just not a wise thing to do.

I often see folks who have procrastinated for quite some time about purchasing long-term care insurance who can now no longer afford the premiums because they waited too long or who may never be able to get the insurance again because of serious health issues that have suddenly arisen.

So, of all the mistakes that can be made when considering long-term care insurance, there is one that is by far the most common and expensive in my opinion: procrastination.

From http://www.goarticles.com

Many medical specialists may leave Canada's richest province, Ontario, after an expected rise in malpractice insurance premiums of up to 45% comes into force.

The steep increase in insurance fees could have a "significant impact" on the profession's ability to continue to provide certain medical services, warned H Ronald Wexler, president of the Ontario Medical Association.

In a message to members, Dr Wexler said that "high risk procedures such as obstetrics, orthopaedics, and neurosurgery" would be particularly vulnerable.

Dr Wexler further estimates that, from 2001, "average Ontario dues will increase by 45%" and those in Manitoba, Saskatchewan, and Alberta will increase by 11%. "Ontario has a significant shortage of physicians in all disciplines, as does the rest of Canada," he said, adding that the dues increase would "unquestionably put Ontario at a significant disadvantage in attracting and retaining physicians."

Full story in News Extra at www.bmj.com

The first of Canada's aging baby boomers are poised to turn 65, and with this milestone birthday comes a variety of new health care concerns. In response to these changing medical needs, the Canadian health care system is preparing to handle some 10 million boomers whose reasons for visiting the hospital will range from hearing loss to long-term care. The aging of this Canadian demographic is inevitable, but falling into financial debt in order to pay for these services can be avoided. By thinking ahead to what medical services may be required, individuals are able to customize their health insurance accordingly.

Living in a country like Canada where health care is provided for all is an undeniable luxury. Yet, despite the many benefits of Canadian health care, there are gaps that exist in coverage. These gaps dictate the need for supplementary health insurance. Sadly, there are many instances where people have met with unexpected illness, but there are also many health issues that can be planned for. Aging is one such issue.

Some of the most common services required by seniors include: x-rays for weakening bones, a visit to the podiatrist for any number of foot related issues and testing and fitting hearing aids for hearing loss. Each of these services may be an inevitability for the aging individual, but they may not all be covered by the Canadian government. Provincial health plans vary from province to province with certain provinces offering a proscribed amount of money yearly for various necessities, such as a trip to the podiatrist. A visit to a specialized doctor or the purchase of a hearing aid can be very costly, and with little to no coverage, people are often left with a substantial financial burden. Supplemental health insurance is the best way for seniors to plan for and minimize these costs.

Opting for supplemental health insurance allows you to customize your plan to suit your individual needs. For many seniors, the prospect of spending time in a hospital is not a pleasant one, but with supplemental coverage, a private room in a health care facility can make the stay more comfortable. Not only does health insurance ease the worry that individuals may have concerning their own personal welfare, but it also helps to assuage the fears of family members on whom the burden of long-term care would fall.

As ten million Canadians begin to approach the time in their life when retiring is imminent, it becomes a necessity to plan for whatever eventualities the future might hold. Thinking ahead to answer the various demands of aging helps guarantee a peace of mind for yourself and your family and ensures that you are ready to face the challenge of life's milestones.

From: http://searchwarp.com/swa11946.htm

Likewise to the USA and the UK, the process of integration of critical illness cover in the Canadian market had been slow. But the Canadian life industry expects to see critical illness insurance be as successful as in the UK during the coming years. Let's have a look at how critical illness cover developed in Canada.

The agency field force could be held responsible for promoting critical illness cover sales in Canada. The agency field force may also consist of agents, brokers and associates. The popularity of group critical illness cover or employer sponsored critical illness cover may be increasing in Canada. Thus, individual critical illness covers may be left behind during the process. Also, the worksite marketing may have also accounted for some critical illness cover sales in Canada. As the term critical illness cover may become more familiar to Canadians, insurance companies believe that sales could be made by direct response programmes in the future. Besides, the internet may also act as a powerful means to attract potential consumers due to the growing maturity of the Canadian insurance industry.

Munich Re, 2000 may affirm that critical illness cover sales in Canada may not have depended on specific people of specific sex and age groups. Therefore, policyholders may range from young to old, men to women and small business owners to professionals. However, one trend had been noticed. More critical illness cover sales may stem from people who are high earners. One possible explanation to this fact could be that critical illness policies may be relatively expensive, thus hardly affordable by low earners. The high price tag of critical illness policies may be due to the fact that the policies may last for a lifetime. Further reports may also reveal that critical illness policies may have more women buyers than men. Around 40 percent of women may possess a critical illness cover as most business owners could be women in Canada.

Furthermore, standalone critical illness policy may have been the first plan initially introduced in Canada. Soon, the combination of critical illness cover to disability and life insurance made way. Nowadays, insurers may be aiming at providing a critical illness cover which can compete effectively by providing more benefits to consumers. Some had chosen to accelerate the death benefit of a life policy upon diagnosis of a critical illness. Other companies might also be moving towards giving limited critical illness coverage on a guaranteed issue basis. Another option added on critical illness cover may have been the ROP (Return of Premium). With critical illness policies holding this option, it could be made clear that the advantage with that policy could be significant.

Some companies had the ROP automatically added to their policies as a rider benefit. Meanwhile, other companies may refund the premiums if the policyholder did not encounter any critical illness until the end of the policy. Other firms may also provide their customers with the ROP on lapse benefit which may have refunded the premiums once the critical illness policy had been ceased. Some people view this option as misleading as companies may be in fact encouraging their policyholders to terminate their policy ahead of time.

Critical illness cover in Canada appears to be on the same path as in the UK. As sales may be relatively lower than that in the UK, critical illness cover in Canada is yet to completely bourgeon.

From www.unbeatablelifeandcriticalinsurance.co.uk

Term life insurance is the least expensive type of coverage and least complicated type of life insurance, at least initially. Coverage is in effect for a fixed term or period of time, typically 1 to 30 years and usually, can be renewed.

The policy pays your beneficiary a fixed amount of money if you die during the term of the policy. The premiums are lowest when you are young and generally increase upon renewal as you age. These policies do not build up a cash value.
Term life insurance provides life insurance protection for a specified period of time. If you die within the term period and the policy is in force, a death benefit is paid to your beneficiary. If you are still living at the end of the term, protection ceases unless the policy is renewed. There is no "accumulation" element, or cash value with term life insurance.

Term life insurance is mainly for:
* People with a temporary need for life insurance protection.
* Those who need a large amount of life insurance protection but have limited budgets.
* People with specific business needs (e.g., business owners who want to cover the life of a key employee who has a set number of years until retirement).

The following are the benefits of Term life insurance that should be considered:
* Term life insurance provides insurance protection for a low cost (at least initially).
* If your needs change, most term policies allow you to convert to a permanent life insurance policy without having to take a medical exam or provide other information about your health.
* Term life insurance is a good way to supplement other coverage when you have added financial responsibilities for a given period of time (e.g., mortgage, college expenses).
* Death benefits are generally received free from income tax

There are certain things which every individual should consider while taking the Term life insurance:
* Premiums generally increase with age and they could become unaffordable later in life. There is no cash-value element, so you miss the tax-deferred growth of the cash value of permanent life insurance policies, such as Whole Life Insurance.
* Once the term period expires, you should renew your policy as it is possible.

Everybody knows the importance of buying a life insurance. However before buying one, it is essential for you to know some important life insurance terms. Why? So that you can choose the insurance policy that offers a life insurance protection suitable for you. Understanding these life insurance terms will help you choose the best life insurance cover for you, with the optimum level of ;life insurance protection.

* Beneficiary: Person(s) whose names have been mentioned in the policy to be eligible to get the proceeds of your policy, in case of your death.

* Cash/Surrender Value: The cash amount available for obtaining loans and which can be withdrawn in case of emergencies. If you use this value, your death benefit will reduce death benefit and increase the chance of policy lapse.

* Sum assured: This is the minimum amount guaranteed to the policy owner. It determines the amount you will pay towards premium.

* Premium: This is the amount you to the insurance company in order to enjoy life insurance protection. The amount is decided by your age, type of insurance policy chosen and your health situation. If you are young, healthy and opting for a plain term plan, your premium will lower than if you are older, have some debilitating condition and opting for a unit link insurance plan.

* Endowment policy: A policy that provides life insurance protection as well as an investment avenue. It invests its corpus in debt instrument. The life cover lasts for the term of policy selected.

* Policy term: This is the duration for which you are paying premiums to avail of life insurance protection.

* Term policy: A policy that offers only the life cover without any investment option. Usually, this is the cheapest policy.

* Whole life policy: A policy that offers life insurance protection for as long as you are alive, along with returns on the premiums paid. The corpus is invested in various debt instruments.

* Unit link insurance policy: A policy that provides life insurance protection as well as returns on the premiums paid. This policy can invest across debt, equity or a mixture of both.

* Policy holder: The person on whose name the policy is purchased. It could the person who pays the premiums or another person who has been gifted an insurance policy.

* Paid-up policy: A policy that is in force but without having to pay further premiums.

* With profits policy: A policy in which the insurance company pays the policy holder a share of its profits in form of bonus. This can be either annually or when the policy expires.

* Policy loan: A loan offered by the insurance company to the policy holder from its general funds, by using the policy's cash value as a security for the loan.

These are some of the common life insurance terms you will find being used by the insurance brokers as well as insurance companies. These terms will definitely help you in short listing the most suitable insurance policy for you.

Term-100 is a form of permanent insurance that could be described as a stripped-down whole life policy. The premiums for term-100 are somewhat lower than premiums for a comparable whole life policy, for the following reasons:

A term-100 policy typically has no cash surrender values.

A term-100 policy either does not offer any non-forfeiture benefits or offers Substantially reduced non-forfeiture benefits.

If the term-100 policy is cancelled or allowed to lapse, the insurance company keeps all or most of the policy reserves.

The amount of coverage and the policy premiums remain level for the life of the policy. Usually, the policy will either endow (the face amount is paid out as a living benefit) or go paid up (the face amount of coverage is maintained, but no further premiums are payable) once the life insured reaches age 100.

Although technically a "term" product, term-100 is treated as a form of whole life insurance, since few lives insured would ever outlive age 100. As such, the plan is most appropriately used to cover permanent needs, where the amount of insurance required is not likely to change and where non-forfeiture benefits are not expected to be needed.

When you want to buy a term life insurance policy, you really do need to comparison shop. When you shop for a car or TV, you always go to several stores, and considering this decision for your life insurance is more important, why not do the same?

What Are Your Life Insurance Options?

In a life insurance policy comparison, you first need to figure out how much life insurance you need to buy. A life insurance policy is good for a determined amount of years if you choose term life insurance. If you don't die within that period, the policy expires and you have to either renew or buy another policy. Whole life insurance is another matter altogether, as the higher cost of the premium can keep the policy going for a long time.

Should You Buy Life Insurance Online ?

With all of the companies online, it's easy to get life insurance quotes and buy on the internet. When an independent life insurance broker, like ourselves, gives you a quote, all the figures are on 1 or 2 pages. As far as possible you are comparing apples to apples, which is at the heart of doing a real comparison.

Whatever your needs in life insurance, you need to compare the same terms. You need to be sure that you are comparing the same elements along with other pertinent facts. But whichever policy or approach you choose, the answer is yes; you need to shop to find the best life insurance.

Term Or Whole Life Insurance ?

Term life insurance is the choice of over 90% of buyers, and that is for a good reason; it is cheaper. And most feel they do not need it to last beyond their working years, and if they do, in Canada you can buy term to 100 years. If you get to age 100, the company forgives the payments after that.

It is also harder to compare whole life insurance costs as the cash surrender value differ greatly at different ages. This makes it impossible to do a real comparison as you are only comparing numbers. It is a lot easier with term life insurance.

By: Ivon T. Hughes
www.hughestrustco.com

A partnership is fairly simple to set up. Two or more people get together with the intent of going into business they get the appropriate licenses and file the necessary papers with the State and you are in business. When the areas of expertise of these people compliment each other the situation is ideal. Although each partner is taxed on an individual basis they all are liable for the debts of the business.

The partnership is treated like a separate entity in some ways as it can own property and execute documents, however, when it comes to payment of taxes or debt liability the owners are responsible. When a partner dies the company must be dissolved. If the survivors want to continue the business they must form a new company.

At the time of the formation of the partnership an agreement should be drawn up stating the percentage of shares each partner owns and under what conditions and in what manner shares can be disposed of. The agreement can be modified later upon the approval of a majority. If there are problems between partners the agreement is the legal document that they should be able to fall back on.

Advantages

* Fairly simple and inexpensive to set up.
* Makes going into business with family members easy and unlimited.
* Capitalizing a business is simpler and stronger when many people put their resources together.
* Because many people are putting their assets together the borrowing power is greater.
* Each partner has the unique opportunity of specializing in their own area of expertise.

Disadvantages

* Unless otherwise stated in an agreement the partnership must be dissolved upon the death of a partner.
* The remaining partners must purchase or inherit the shares of the deceased partner unless otherwise stated in an agreement pertaining to succession.
* A partner can require that the business be dissolved at any time.
* Cannot take advantage of tax write offs like group life insurance, disability and health.
* All partners are at risk for liabilities. All assets of the partnership are at risk in a limited partnership.
* If a partner wants to leave the partnership he may suffer financial loss.

Life Insurance

Now let us look at how life insurance applies to this type of business. Let us suppose a partner died or had to leave the partnership because of disability. This situation could destroy the business, however, if the business had a properly drawn up buy-sell agreement funded by life insurance and disability insurance much of the problems would be averted. Each partner would have a life insurance policy and a disability buy-out policy on his life paid for by the other partners. Upon the death or disability of a partner the insurance company pays an amount equivalent to the value of the shares owned by the deceased. This money is used to purchase the deceased shares from his heirs.

Whole life insurance has traditionally been used for this type of business arrangement because of it's permanence but term life insurance can also be used. A 20 year term or a 30 year term policy would be be fine.

By Donald Lusan
http://www.lifeinsurancehub.net/

Level term life insurance, the most common form of term life insurance, is a life insurance policy that gets straight to the point. It's similar to regular term life insurance in that it provides pure life insurance coverage when you need it with none of the frills of whole life insurance, such as forced savings components.

Level term life insurance has a guaranteed level premium, and you aren't required to annually renew the policy. The insurance premium stays the same for a set period of time - the length of time for which the policy is in effect (usually 10, 15, 20, or 30 years). The longer the policy is in effect, the higher the annual premium will be.

For example, if you purchase a level term life insurance policy for 10 years, you'll pay lower premiums than you'd pay if you purchase level term life insurance for 30 years. The reason for this is you'll get much older during the course of a 30-year policy than you'll get during the course of a 10-year policy, and life insurance companies view older individuals as more risky to insure. If you purchase a 10-year policy when you're 30 years old, you'll only be 40 years old when the policy expires; however, if you purchase a 30-year policy when you're 30 years old, you'll be 60 when the policy expires. It costs more to insurance a 60-year-old than it costs to insure a 40-year-old. Make sense?

Level term life insurance policies normally include renewal options. This means you can renew your policy at a maximum guaranteed rate if you choose to extend the term of insurance coverage. This option is usually only implemented if your health has greatly deteriorated during the original term of insurance coverage.

If level term life insurance sounds right for you, begin your search now and make your purchase as early as possible to ensure the lowest premiums possible.

From: http://www.articlecube.com/Article/What-Is-Level-Term-Life-Insurance-/113651