Final Expense Plan

*not available in Quebec

The final expense plan is a guaranteed coverage policy designed for hard-to-insure individuals who have struggled to find coverage in the past or worried about undergoing medical exams or health questionnaires.
  • Eligibility​
There are only two criteria to qualify your client for full coverage under the Specialty Life Final Expense Plan:
  • 1 They are between the ages of 18 and 74 inclusive, and;
  • 2 They have a permanent Canadian address.
If the above applies to your client, they're 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 clients, even if:
  • They have 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.
  • Benefits
  • Guaranteed acceptance
Regardless of your state of health, you are qualified for coverage under this plan.
  • No medical exams
No waiting around for tests to see if you qualify. This results in better client satisfaction and quicker approval of new applications.
  • Simple and effective coverage plans
Up to $25,000 in guaranteed life insurance benefits are available to you with no health questions or evaluation necessary.
  • No citizenship required
All you need 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. Most applications are received and processed in one business day.
  • Accidental death protection
You also benefit from up to four times your stated coverage amount in additional accidental death coverage, included at no extra cost, until age 75.
  • How the Death Benefit is Paid

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 accidental, 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.

  • When this Benefit is not Paid

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

  • A death that has occurred within two 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 instead of the basic benefit.
  • The insured person commits suicide, while sane or insane, within two 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.

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;
  • 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 millilitres of blood or more;
  • In the act of committing or attempting to commit a criminal offence 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 the 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.

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