Several insurance plans require that you go through a lot of medical exams and answer health questions. This may make it difficult to enroll in an insurance plan if you have had poor health history. Guaranteed-Life plus is a perfect whole life insurance plan for you designed to meet your needs. It is a guaranteed insurance plan because no medical question is asked and you will be covered for the rest of your life provided you continue paying your premiums.
The plan provides up to $50,000 in basic benefit coverage and up to $250,000 in Accidental Death Benefit coverage. You are allowed to choose the premium that is right for you from $20 to $120 each month and the plan is designed for Canadians between age 40 and 75. Furthermore, the plan will pay a tax-free benefit to your beneficiaries to use for whatever purpose they deem fit.
What to Note About Guaranteed-Life Plus Insurance
If you die due to an accident covered by the plan, the Accidental Death Benefit will pay your beneficiaries five times your basic benefit. This benefit will end when you turn 85. In addition, the plan includes a 30-day free look. This means that you can cancel the plan anytime within the first 30 days without any additional obligation on you.