Most insurance coverage require that you go through several medical exams and answer health questions before you meet the eligibility criteria but you don’t really need such a tedious process to get the coverage you want. Guaranteed Issue Insurance provides features that make obtaining the coverage you want seamless. As the name implies, the insured’s acceptance to the CAA guaranteed issue life is guaranteed provided he meets the eligibility requirements, irrespective of your health status.
This plan is affordable and also it provides a reliable way to beef up the level of security you leave for your l oved ones. It is available for Canadian residents between age 40 and 75. Furthermore, you can benefit from the CAA Member Exclusive Benefit which ensures that your coverage will increase by 2% each year up to 25 years at no additional cost.
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.