Guaranteed Issue Life

Key Features of CAA Guaranteed Issue Life Insurance Plan

The guaranteed issue insurance offers a lifetime protection to the insured. Furthermore, the plan provides a coverage range from $5,000 up to $25,000. In addition, once the insured reaches age 95, he will not be required to pay a premium. Also, in the event of the death of the insured, his beneficiaries will receive a tax-free lump sum benefit.

• The plan is for Canadian residents aged 40 to 75.
• Your acceptance is guaranteed as long as you meet the eligibility criteria irrespective of your present health status.
• The coverage amount for this plan range from $5,000 to $25,000.
• No medical exam or medical question is required to apply for this plan.
• The insurance rate for this plan is locked-in forever and will not increase.
• If you die within the first 2 years of your coverage of non-accidental cause, you will be eligible for a return of premiums with interest.
• If you die due to an accident before reaching age 85, your coverage could be increased by 5 times, thanks to the Accidental Death Benefit.
• 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%. This feature is provided in the Living Benefit cash advance.
• The plan offers a lifetime protection to the insured. You will not be required to pay any premiums when you reach age 95.
• To help you make informed healthcare decisions, the plan includes Health Service Navigator.
• In case of suicide within 2 years of the effective date of the coverage, the insured will not be eligible for any benefit.

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