Advisor support


Advisor support


Final Expense PlanUnderwritten by Chubb

*not available in Quebec

Specialty Life's Final Expense Plan works to qualify difficult-to-insure clients and prospective clients who are difficult to insure or may have been declined for life insurance coverage in the past. Under this plan, there's no barriers to entry (subject to age), and a fast application process means you and your client will receive an approved policy within the day that it's submitted.

There are only two criteria needed to qualify your client for full coverage under the Specialty Life Final Expense Plan

  • Your client is between the ages of 18 and 74 inclusive, and
  • Your client has a permanent Canadian address.

If the above applies to your client, they are Guaranteed Accepted under the Final Expense plan and cannot be denied coverage. There is no medical exam, no fluid tests, no questions and no APS required to qualify for any available amount.

This allows coverage for your client, even if

  • They've been denied or rated for other life insurance products
  • They have health issues that would preclude coverage
  • They have risks that would make it difficult to insure for any reason.

Guaranteed acceptance - Regardless of your client's state of health, they are qualified for coverage under this plan.

No medical exams - No waiting around for tests to see if your client qualifies. This results in better client satisfaction and a quicker approval of new applications.

Simple and effective coverage plans - Up to $25,000 in guaranteed life insurance benefits are available to your client with no health questions or evaluation necessary.

No citizenship required - All your client needs to qualify is to meet the age requirements and have a Canadian residence, making this an ideal option for newly-landed applicants.

Instant issue - Arranging, filling and submitting a policy is fast, easy, and intuitive for you and your client. Most applications are received and processed in one business day.

Accidental death protection - Your client also benefits from up to four times their stated coverage amount in additional accidental death coverage, included at no extra cost, until age 75.

Subject to the terms and conditions pertaining to this policy, the death benefit from Specialty Life's Final Expense plan will be paid if:

The insured person dies a natural death after two years of this policy. Or, at any time, an accidental death will provide four times the Basic coverage as covered under the accidental death condition as laid out in the policy documents. See the Accidental Death Benefit Plan details for more information.

A natural death within the first 24 months will receive a refund of premiums paid.

If the insured person dies after two years of this policy and the death is an accidental death, four times the death benefit will be paid out as set out in the policy schedule.

The death benefit is payable only once for the insured person. There are some limitations and exclusions that apply to the circumstances surrounding the death. Please see the "When this Benefit is not Paid" for more details.

Final Expense Basic Benefit

The basic death benefit under the Final Expense Plan will not be paid under the following circumstances:

  • Death that has occurred within 2 years from the later of the effective date or latest reinstatement, and death which is not an accidental death will be subject to no benefit payments. A full refund of premiums will occur in lieu of the basic benefit.
  • The insured person commits suicide, while sane or insane, within 2 years from the effective date or latest reinstatement.
  • If the Final Expense Plan policy is declared void due to a material omission, misrepresentation or in the event of fraud.

Accidental Death Benefit

The Accidental Death benefit under this plan will not be paid when death is caused directly or indirectly by one or more of the following circumstances:

  • Illness;
  • A suicide or intentional self-injury while sane or insane;
  • Misuse of medication, the abuse of drugs or intoxicants, or death resulting from having a blood alcohol level of 80 milligrams of alcohol to 100 milliliters of blood or more;
  • In the act of committing or attempting to commit a criminal offense or while in prison;
  • Medical or surgical treatments or complications arising from such things, except when required as a result of an injury;
  • Participation as a paid professional in sports, or participation in any motorized contest of speed, nor any hazardous activities such as: scuba diving, rock climbing, boxing, skydiving/parachuting, hang-gliding, and/or bungee jumping;
  • Air travel other than as a fare-paying passenger in a commercially-licensed aircraft, or;
  • Declared or undeclared war, acts of war, terrorism, riot or insurrection, or death as a result of serving in the armed forces of any country, government, or international organization.

Claims of the basic death benefit are not subject to these above exclusions.

Please note that, with an exclusion of fraud, should the policy be declared void: the insured's beneficiary is entitled to a refund of premiums from the effective date of the policy, or the date of its latest reinstatement -- whichever is later.