UV Insurance Review

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About UV Insurance (Previously UL Mutual)

In 1889 L’Union Saint-Joseph formulated a joint fund to provide for their needs in case of illness or death. They would later be known as The Union Life Mutual Insurance Company, and finally take on their new alias today as UV Mutual Insurance. UV Mutual was conceptualized in Drummondville, Quebec and still remains there today. UV Insurance is community oriented and makes annual donations to better the lives of Canadians. 

UV Insurance offers insurance coverage for whole life, term life or universal life insurance, critical illness insurance, disability insurance, health insurance, travel insurance, home insurance and auto insurance, available for individuals. Group insurance is available to businesses, organizations and associations.

Company NameThe Union Life Mutual Assurance Company
Head Office Address 1990 rue Jean-Berchmans-Michaud, Drummondville
QC, J2C 7G7
Fax: 819-474-1990
Website https://uvinsurance.ca/
In Business Since 1889
A.M. Best Rating -
Financial Assets$225 Million
Terms and Conditionshttps://uvinsurance.ca/terms-and-conditions/

How Do I Purchase a Plan with UV Insurance?

To purchase a plan with UV Insurance, visit their website to get started. You can view existing policy plans and fill out an application form. You can also call customer service to get started. 

How Can I Reach UV Insurance by Telephone?

You can reach UV Insurance by phone by calling them at 1 800 567-0988. 

How Do I File a Claim with UV Insurance?

Claims can be made directly on the UV Insurance website. You’ll have to select the applicable forms you require and take it from there.

UV Insurance Pros and Cons

As with any product or service, and depending on your individual needs, there is always advantages and disadvantages. Let’s take a look:

Why UV Insurance Could Be Right for You:

  • Offers a wide range of insurance products
  • Flexible payment options
  • Financial security 

Why UV Insurance May Not Be Right for You:

  • Limited product knowledge online
  • Coverage is limited to Canada
  • Premium costs

What Does UV Insurance Cover?

UV Insurance in Canada provides comprehensive coverage against unexpected medical expenses and emergencies. With various plans tailored to individual needs, UV Insurance ensures access to quality healthcare services without financial worries. Whether it's hospitalization, prescription medications, or specialized treatments, UV Insurance offers peace of mind, making health and well-being the top priority for all Canadians.

UV Insurance Health & Dental Plans

Early Learning 

You can purchase this insurance plan for your child when they are between the ages of 0 and 36 months old. The coverage amount for this plan ranges from $250 to $50,000. Coverage with Early Learning begins when your infant turns 15 days old, or when UV Insurance receives the application. If you purchase another plan with UV Insurance within 12 months, you can get a fee refund. 

Juvenile 30/100 

Getting insurance coverage for your children such as Juvenile 30/100 will help you keep your children protected at highly affordable premiums. The maximum amount for this life insurance is $500,000 but you can also opt for $100,000 or $250,000. The insured amount is automatically indexed by 10% every year during the first 10 years. The plan is designed to provide maximum life insurance protection to children 0-15 years with affordable premiums. It helps you to secure the future of your children and grandchildren. The plan can be easily converted to  permanent insurance at age 30. You don’t even need a health statement to do this and also the insurance premium will be guaranteed. UV Insurance juvenile 30/100 covers life insurance, critical illness insurance and accidental fracture for your children. 9 critical illnesses are covered including stroke, coronary artery bypass surgery, heart attack, and cancer and 5 child diseases namely, cystic fibrosis, cerebral palsy, muscular dystrophy, type 1 diabetes mellitus, and congenital heart disease. On expiry, the term to age 30 can be converted to term to 100 at a highly competitive rate.

AdapCI Critical Illness Insurance 

AdapCI allows you to get your premium back in the event of death, provided no claim has been made for a critical illness condition. You can also get 100% your premium back if you cancel your critical illness insurance once premiums are due. A lot of critical illnesses are covered by this plan. This includes 24 critical illnesses and 4 noncritical illnesses. The critical illnesses include illnesses covered in the juvenile plan and more. AdapCI provides robust protection from $10,000 to $2,000,000. It is a highly flexible and also affordable critical illness insurance plan. The plan covers 24 critical illnesses and 4 noncritical illnesses. All the critical illnesses covered in juvenile insurance are covered by this plan and more. You can get back your premium after 10 years, or in the event of death if you have not made a claim. You have an option to choose when to end your payment. Available options include until the age of 25, 35, 45, 55, 65, or 75.

UV Life Insurance Plans

UV Insurance's life insurance plans in Canada offer essential financial protection and peace of mind for you and your loved ones. These plans are designed to provide a financial safety net in the event of your passing, ensuring that your family's future is secure. With various options available, UV Insurance's life insurance plans can help cover expenses such as mortgages, education costs, and daily living expenses, allowing your family to maintain their quality of life during challenging times.

Term Life

The term life insurance is available for the duration of 10, 20 or 30 years. You need to be between 18 and 65 to be eligible for this life insurance. Your coverage can be renewed until your death, every 10 years at a guaranteed premium. If you are unable to perform 4 of the 6 daily living activities before age 60, you could receive 50% of your initial premium amount.

Your term insurance can be easily converted to a whole life insurance until age 70. You don’t even need evidence of insurability to do this. In the event of your death, the plan will pay your funeral expenses, your tax and debts, leave an inheritance for your dependents, and maintain the standard of living of your beneficiaries. You can add critical illness and supplementary benefits such as dismemberment and accidental death.

Integral Permanent Life Insurance 

Integral permanent life insurance covers you on the insurance that is equivalent to the total premiums you have paid. In other words, as soon as you stop paying premiums, your insurance coverage will be adjusted to its reduced equivalent depending on the total premiums you have already paid. Integral permanent life insurance allows you to pay premiums all your life. With this insurance plan, you can interrupt payment as you wish without losing money. You can also stop paying premium anytime you want and will still be insured for life. The plan covers you by a reduced equivalence of your insurance equivalent to the total amount of premiums you have paid when you stop paying premiums. You can cancel your insurance contract and redeem a part of the premiums you have paid. The money you redeemed can be used for any purpose such as health issues, personal projects and so forth.

Adaptable Permanent Life Insurance 

Adaptable permanent life insurance offered by UV Insurance allows you to leverage adequate legal protection at no extra cost. It covers 8 legal fields, namely, personal, real estate, assets and property, family, business, labor, consumer protection, and civil liability and litigation. Besides, you can opt for this insurance plan without any proof for insurability. The insurance plan includes two chapters, namely, a basic option (chapter A). This is a term insurance that insures up to $100,000. The second chapter, chapter B, is optional. It is a permanent insurance option. Adaptable permanent life insurance has one of the highest cash values in the industry, you can even borrow against your cash value. The premiums can be paid in 8 premium payment periods namely to age 25, 35, 45, 55, 65, 75, and 85. Only a minimum of 20 years of payments is allowed. Legal assistance is also included in the plan at no extra cost. This covers 8 legal fields namely, personal, real estate, assets and property, family, business, labor, consumer protection, and civil liability and litigation. You can opt for this insurance plan without any proof of insurability.

Whole Life High Values 

This is a new permanent life insurance product offered by UV Insurance. Premiums are fixed and you’re guaranteed to be insured regardless if your health changes or not. The insurance is payable for 20 years. Receive tax-free coverage that ranges from $10,000 to $2,000,000. With Simplified issue, there is no medical exam required and the coverage provided is for $10,000 to $150,000. In your 10th year of being a policyholder, you’ll have access to a cash value.

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