No Medical Term Insurance – Foresters plan

Deferred | Simplified – Terms

(Policy Wording)

Term insurance is temporary insurance that allows you to purchase only for the number of years you wish to be protected. There are three types of policies available all available as a 10, 20 or 100 year term: Deferred Term; Simplified Term; and Simplified Term Plus. Qualifying for Simplified Term Plus means you may have lower premiums.

» Canada Protection Plan’s Simplified Term and Simplified Term Plus policies give you the option to automatically renew as long as premiums are paid. To renew a Deferred Term policy, you must reapply to qualify.

» Amount and duration of insurance selected often corresponds with the length of a mortgage period, short term loan or the term period for which you think your family will need extra protection. For example, the number of years your children will be living with you or be dependent upon you.

» Deferred Term – you may be eligible for deferred insurance if you have been declined for life insurance within the last two years and have some medical concerns. There are a few simple questions that you must answer to qualify.

» Terminal Illness Benefit included with Term 100 policies – 50% of the death benefit to a maximum of $50,000 upon diagnosis of a terminal illness (after 2 years from issue date for deferred policies).

» Transportation Benefit included with Term 100 policies – we will pay the cost to transport the insured’s body back to their principal residence if death occurs over 200 km away not exceeding $2 per km to a maximum of $2,000 CDN.

DEFERRED TERM

term 10

term 20

term 100

  • »  Coverage begins after 2 years
  • »  Age 20-70
  • »  $50,000-$100,000
  • »  Non-Renewable
  • »  Coverage begins after 2 years
  • »  Age 20-70
  • »  $50,000-$100,000
  • »  Non-Renewable
  • »  Coverage begins after 2 years
  • »  Age 20-70
  • »  $25,000-$100,000
  • »  Terminal Illness Benefit
  • »  Transportation Benefit

SIMPLIFIED TERM

term 10

term 20

term 100

» Age 20-70

» Renewable to age 80

» Age 20-70

» $50,000-$150,000

» Renewable to age 90

» Age 20-70
» $25,000-$150,000
» Level for Life
» Terminal Illness Benefit » Transportation Benefit

SIMPLIFIED TERM PLUS

term 10

term 20

term 100

» Age 20-70

» $50,000-$150,000

» Renewable to age 80

» Age 20-70

» $50,000-$150,000

» Renewable to age 90

» Age 20-70
» $25,000-$150,000
» Level for Life
» Terminal Illness Benefit » Transportation Benefit


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