CAA FollowMe Life Plan

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The Right Plan When your Group Life Benefits Ends

FollowMe Life Insurance is an affordable plan for you if your group life insurance through your employer is ending. It is an affordable and simple solution for you as it provides a convenient and seamless way to ensure that the financial protection of your loved ones is not interrupted. If you are resident in Canada and between age 18 and 69, this coverage is most suitable for you. If you apply within 60 days of your group life coverage ending and also meet the eligibility criteria, this coverage is basically for you and your acceptance to the coverage is guaranteed. In the event of your death, the coverage will pay a tax-free lump sum to your beneficiaries and the coverage amount for this plan is between $25,000 and $200,000.

Additional Features

This plan offers a guaranteed approval. This implies that you don’t need to answer any medical question or exam to apply for the plan. In addition, your coverage will remain intact even when you retire or change employers. It is also a renewable coverage up to age 80.

  • The plan is for Canadian residents aged 18 to 69.
  • Your acceptance is guaranteed as long as you apply within 60 days of your group life coverage ending and also meet the eligibility criteria.
  • The coverage amount for this plan range from $25,000 to $200,000.
  • No medical exam or medical question is required to apply for this plan. However, you need to answer whether or not you are a smoker. This question will be used to ascertain your premium.
  • In the event of your death, your beneficiaries will receive a tax-free lump sum.
  • If you are diagnosed with a terminal illness with barely 12 months or less to live, you could receive an advance up to 50%, a maximum of $50,000. This feature is provided in the Living Benefit cash advance.
  • The plan also offers guaranteed renewal up to age 80.
  • As you change your employers or retire, your coverage will follow you.
  • In case of suicide within 2 years of the effective date of the coverage, the insured will not be eligible for any benefit.

 

 

Additional resources

Learn more about your life insurance options from these informative articles.

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