Standard Protection
Combining coverage amounts up to $300,000 with simplified underwriting, the standard protection plan provides substantial lifelong coverage with a fast and straightforward application process that gets Canadians covered faster.
There are three requirements to qualify your clients for coverage under Standard Protection:
Clients may be eligible to buy this policy even if:
- They have been deferred, postponed, or declined insurance for any reason;
- They have severe or terminal health issues that may render you otherwise uninsurable;
- They are a resident of Canada, even if you are a landed immigrant and otherwise not a Canadian citizen.
If your clients are between the ages of 18 and 70, they can apply for coverage of any amount, from $1,000 up to $300,000.
During the first two years of coverage, your client’s benefit is equal to a total sum of premiums paid plus 10% simple interest in lieu of the sum insured. After this two year period, full benefits are payable equal to the coverage stated.
Only 13 qualifying health questions are required to receive coverage, with no questions about family history or travel intentions.
Coverage lasts for a lifetime with premiums payable until age 100. Premium rates will never increase during the life of the policy.
The life insured needs to reside in Canada to qualify, making this plan a suitable fit for applicants without citizenship or who are proceeding on the path to Canadian citizenship.
Specialty Life's fast application process can be completed entirely online, and we will provide your client with an issued policy in as little as one business day.
Premiums for coverage are determined by the applicant’s gender, date of birth, smoking status and coverage amount selected. These premiums will remain level for the life of the policy.
