Multi-Term Life
CAA Multi-Term Life – A Long-Term Plan for Your Family and Assets
Your family and assets are two of the most important things in your life. You surely want to protect your investment with everything you have. With CAA Multi-Life insurance plan, you can protect the financial future of your loved ones as well as your assets with ease. If you are resident in Canada and between age 18 and 65, this plan is the best option for you.
The plan includes several term options and you can choose the term that meets your needs appropriately. The available terms include 10-Year term (for Canadians aged 18-65), 15-Year term (for Canadians aged 18-60) and 20-Year term (for Canadians aged 18-55). Another feature included in this plan is the CAA Member Exclusive Benefit. This benefit will increase your coverage by 2% per annum up to 5 years at no additional cost.
Features Involved in CAA Multi-Term Life Insurance Plan
The multi-term life insurance has coverage amount ranging from $50,000 to $1,000,000. In addition, the insurance rate for this plan is locked-in for the duration of the plan you choose. The plan also includes Living Benefit cash advance and also guaranteed renewable up to age 75. You can also convert it to a Lifetime Protection plan before age 71.
- The plan is for Canadian residents aged 18-65 (10-Year term), 18-60 (15-Year term) and 18-55 (20-Year term).
- The plan includes an optional 2% CAA Member Exclusive Benefit. This benefit guarantees that your coverage will increase by 2% per year up to 5 years.
- The coverage amount for this plan range from $50,000 to $1,000,000.
- The insurance rate for this plan is locked-in for a period of the term you choose.
- The plan also includes Critical Illness Benefit up to a maximum of $15,000.
- In the event of your death, your beneficiaries will receive a tax-free lump sum.
- The plan can be converted to the CAA Lifetime Protection Plan before you reach age 71.
- 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.