Lifetime Protection
The CAA Lifetime Protection Insurance to Safeguard Your Loved Ones
You need insurance protection for several things in life. Short-term term insurance only protects for a short term and may not provide the protection you need for a lifetime. If you want a lifetime coverage, the best option for you is CAA Lifetime Protection. This coverage provides the protection you need to safeguard your loved ones even up to age 75 or 80 or after your group plan has ended.
The plan offers a low rate that is locked-in for a lifetime. It is a permanent life insurance coverage designed for Canadian residents between age 18 and 75 (both ages inclusive). Furthermore, this plan offers a lifetime protection and you will not be required to pay any premium when you reach age 100.
Benefits and Features of CAA Lifetime Protection Insurance Plan
In the event of your death, the coverage will pay your beneficiaries a tax-free lump sum amount. In addition, this plan includes the Living Benefit cash advance that pays you up to 50% advance of your coverage if you are diagnosed as being terminally ill and have only 1 year or less to live.
- The plan is for Canadian residents aged 18 to 75.
- It offers a lifetime protection and the insured will not be required to pay any premium on reaching age 100.
- The coverage amount for this plan range from $50,000 to $500,000.
- The insurance rate for this plan is locked-in forever.
- 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% or a maximum of $100,000. This feature is provided in the Living Benefit cash advance.
- 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.