Guaranteed Issue Life

Why you need guaranteed issue life insurance


Guaranteed issue life insurance is a simplified, small life insurance policy that provides affordable coverage at a fraction of the cost of traditional whole-life or term life insurance policies.


While funeral arrangements are an inevitable part of life, 23% of Canadians are not at all prepared financially if they pass away too soon.2 While traditional whole life insurance can ensure your named beneficiaries are able to pay off your debts and usually include death benefits, plans can be costly and difficult to qualify for.


Also known as final expense insurance or funeral insurance, EDGE guaranteed issue life insurance is dedicated to helping ease the financial burdens of a sudden, premature death, and pays a tax-free* lump-sum amount to your beneficiary. It is an affordable, attainable way for those who may not be eligible or able to pay the high premiums for traditional life insurance to receive final expense coverage in the event of their passing. The unforeseen can happen to anyone, at any age. Although many people may not begin thinking of purchasing a life insurance policy until later in their career, it is actually recommended to purchase protection as early as possible to provide a safety net for loved ones when financial obligations and dependence on your contribution to the household income are greatest. Funeral expense policies are available for individuals as young as 18 and provide peace of mind until your mid-70s.


A smaller policy like this is more cost-effective than purchasing a traditional life insurance plan, but is just as effective for helping your family handle final expenses. If you’re just beginning to invest in coverage or don’t have the immediate funds for a comprehensive life insurance policy, Guaranteed Issue Life Insurance from The Edge Benefits is an excellent introductory form of life insurance.


Questions? Our representatives are here to help.

*Based on current CRA guidelines.


How guaranteed issue life insurance works with The Edge Benefits

Getting life insurance doesn’t get any easier than the Guaranteed Issue Life Insurance plan through The Edge Benefits. Acceptance is guaranteed — no medical exam necessary, no health questions asked and no medical underwriting needed. Rates are age-banded and will increase in accordance with these age-bands during the lifetime of the policy.

What kind of life insurance plans are available with EDGE?

Benefits are available with no waiting period to those aged 18-69, with coverage until age 75, in amounts up to $50,000.

Coverage Amounts

  • $5,000

What does EDGE life insurance cover?

The immediate issue benefit payout from our Guaranteed Issue Life Insurance allows beneficiaries to use it however they see fit. Whether it be to cover funeral and burial expenses or cremation costs, there are no restrictions to how the money can be used by your beneficiaries.

Unlike pre-need insurance, guaranteed issue life insurance does not require the purchased benefit amount to go to a pre-selected funeral home. At EDGE, we understand that the death of a loved one can be both an emotionally and financially stressful time. With our Guaranteed Issue Life Insurance, you have the peace of mind that your final expenses will be covered in a way you and your family see fit.

In the case of accidental death, the beneficiary will receive four times the benefit amount that was purchased.

Important note: If non-accidental death (or death due to illness) occurs within the first 24 months of purchasing the policy, the beneficiary will only receive a return of the premium payments paid into the policy. Benefits are not payable if death is caused by either suicide or a non-accidental incident within two years of the effective date or the latest reinstatement date of coverage.