If you're between 50 and 75 and a permanent full-time resident of Canada, you are guaranteed to be approved for 50+ life insurance. If your spouse meets these requirements, he or she is also eligible.
With the 50+ plan, there are no health questions to answer or medical exams to take to apply for coverage, making it a worry-free choice that's ideal for funding final arrangements or charitable bequests. You can also use it to help your heirs pay any capital gains tax they may become liable for when they inherit your assets.
Other features
You can purchase death benefit coverage of up to $19,600. However, for the first 2 years, the benefit is limited to 150% of the premium paid to the date of your death.
Your policy includes additional coverage against accidental death, which pays triple the life insurance amount.
Premiums are guaranteed to remain unchanged as long as the policy is in effect.
Provides insurance protection for life.
If you are diagnosed with a terminal illness and have six months or less to live, your policy will pay a living benefit - you will receive a percentage of the death benefit while you are still alive.
Your premiums will never increase, as long as your policy remains in effect.
You can surrender your policy for the cash value stated on it.
Your beneficiary may receive the death benefit tax-free.
You can take a 30-day free look. If you are not completely satisfied, you may return your 50+ life insurance policy within 30 days from the date we mailed it to you and we will return any money you have paid.
Contact us for more information or to arrange your 50+ life insurance policy.
