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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Non-medical life insurance limit

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: I applied online for $250,000 life insurance but was declined because I have not take a mortgage loan within the past two years.

A: The Guaranteed Trust Life Insurance Company issues coverage without medical records up to $100,000 for most people and increases the allowance up to $250,000 for those who have taken a mortgage within the past two years. For this reason, this product is a popular and easy way to buy mortgage protection insurance. In fact, this life insurance product was primarily developed for use in the mortgage insurance industry. In your case, coverage up to $150,000 is available without a new mortgage - just reapply online for any amount up to $150,000 coverage and in most cases within a few days. Higher amounts of insurance coverage are available by providing medical evidence (usually collected by a paramedic though an exam and blood test paid for by the life insurance company) but this is a slower process so coverage cannot be immediately issued online.


More resources:

article: "Do I qualify for GTL non-medical life insurance?"