Life Insurance |
Age at the date the Insurance Begins |
To be 18 years of age and less than 71 years of age |
Age at the date Insurance Stops |
74th birthday |
Term of life insurance must not exceed |
96 months |
Maximum amount payable for both Loan and Long –
Term Lease |
125 000$ |
Amount payable For a Loan and a Long Term Lease |
Loan: corresponds to the unpaid balance of the insured loan at death
Long Term-Lease: corresponds to the total monthly payments payable from the date of death; + de residual value at the end of the Long Term Lease if this option was selected |
Medical Questionnaire |
None |
Disability Insurance |
Age at the date the Insurance Begins |
To be 18 years of age and less than 65 years of age |
Age at the date Insurance Stops |
71st birthday |
Term of disability insurance must not exceed |
96 months |
Maximum monthly payment |
1 500$ monthly |
Disability Insurance Plans |
1) Standard (30-days retro/non retro)
2) 30-days/accident-hospitalization
90-days/ for any other cause of disability |
Coverage period of Disability |
Banks 12 months
Banks 18 months
Term of the Loan or Long-Term Lease |
Amount payable as monthly benefit |
Corresponds to the monthly insured payment payable to the creditor. |
Working requirements for Disability |
To be engaged in regular employment requiring being at work at least 20 hours a week.
To hold a seasonal job that requires, or with being at work 25 hours a week.
|
Critical Illness |
Age at the date the Insurance Begins |
To be 18 years of age and less than 65 years of age |
Age the Insurance Stops |
71st birthday |
Amount payable For a Loan and a Long Term Lease |
Loan: corresponds to the unpaid balance
Long Term-Lease: corresponds to the total monthly payments payable from the date the critical illness is suffered + de residual value at the end of the Long Term Lease if this option was selected |
Maximum amount payable for both Loan and Long -Term Lease |
125 000$ |
Covered conditions |
Cancer, Coronary Bypass Surgery, Heart Attack, Stroke, Coma and Major Burns. |
Term of critical illness insurance must not exceed |
96 months |
Declaration & Consent (page 12) |
Obligatory |
Involuntary Unemployment Insurance |
Age at the date the Insurance Begins |
To be 18 years of age and less than 60 years of age |
Age the Insurance Stops |
65th birthday |
Term of Unemployment benefits |
Maximum of 6 monthly payments |
Maximum benefit payable monthly |
750$ (maximum 6 payments) |
Insurance coverage must not exceed |
60 months |
Special admissibility requirements |
To be engaged in regular employment requiring being at work at least 20 hours a week for at least 40 weeks. |
Generality |
Pre-Existing Condition |
Any pathological condition, symptom, illness or affliction, diagnosed or not, that the Insured or Co-Insured has suffered from or for which the Insured or Co-Insured has received treatment or treatment recommendations within the 6 months immediately preceding the effective date of the insurance.
The following does not constitute a pre-existing condition: any pathological condition, illness or affliction which existed in the 6 months immediately is preceding the effective date of insurance and causing death, disability, critical Illness or unemployment after the first 12 months of the effective date of insurance. |
Charge Back
|
30 days
|
Life Insurance |
Age required at signature of insurance
Plan Maximum |
Age 18 to 59 400 000$
Age 60 to 69 150 000$ |
Age at the date Insurance Stops |
70 years of age |
Term of Life Insurance must not exceed |
84 months |
Amount Benefit payable |
Principal Sum means the least of:
Loan balance, including any Balloon payment insured at the date of death.
If a Lease, present value of outstanding lease payments including any Residual Value Insured stated in your Enrolment form provided the appropriate premium has been paid and received by the Insurer. |
Medical questionnaire |
If the Loan amount is greater than 200 000$ (or 150 000$ if aged 60-69). You have to answer questions Q1 and Q2 of the medical questionnaire. (See page 6) |
Disability Insurance (injury & sickness coverage) |
Age required at signature of insurance |
Plan Maximum
Age 18 to 59 4 000$ per month
Age 60 to 65 1 800$ per month |
Age at the date Insurance Stops |
66 years of age |
Term of Total Disability must not exceed |
84 months
24 months banks (retro/non retro)
12 months banks (retro/non retro) |
Amount of benefit payable |
The Monthly Insured Amount shown on your Enrolment form , or |
Medical questionnaire |
If the Monthly Disability benefit is greater than 3,000$ (2,500$ if aged 60-65) the client will have to complete questions Q1, Q2 and Q3 of the Medical questionnaire.(See page 6) |
Working requirements for Disability Insurance |
To be gainfully employed and actively working at least 25 hours a week for a minimum of 12 weeks immediately prior to the date Insurance Begins.
|
Extra life Protection |
Plan with both Life Insurance up to 400 000$ if between age of 18 to 65.
12 months Disability Insurance (injury only coverage) maximum of 4 000$ a month if aged between 18 and 65.
Waiting period 30-day elimination.
All characteristics of Life and Disability apply to Extra Life. |
Generality |
Pre-Existing Condition |
Any physical or medical condition, symptom, illness or disease, whether diagnosed or undiagnosed, suffered by you for which you received Treatment or Advice within the 12 month period immediately preceding the Date Insurance Begins.
A Pre-existing condition does not include any condition(s) that existed in the 12 month period immediately preceding the Date Insurance Begins if you have been free of Treatment, Advice, for such condition(s) for a 12 consecutive months following the Date Insurance Begins. |
Charge Back
|
90 days
|
Life Insurance |
Age at the date the Insurance Begins |
To be at least 18 years of age, but under the age of 71 |
Age at the date Insurance Stops |
73rd birthday |
Term of Life Insurance must not exceed |
180 months |
Maximum amount payable |
300 000$ |
Amount payable |
The Principal amount insured at the date of death. |
Medical questionnaire |
If your financial commitment exceeds 100 000$ or if your monthly payment is higher than 2,000$. Obligatory for critical Illness. |
Disability Insurance |
Age at the date the Insurance Begins |
To be at least 18 years of age but under the age of 66. |
Age at the date Insurance Stops |
66th birthday |
Term of Total Disability must not exceed |
84 months (standard) (retro/non-retro)
180 months (24 floating months) |
Maximum amount payable as monthly benefit |
3 000$ |
Amount payable as monthly benefit |
The monthly payment insured in accordance
with the financial commitment as described on the application. |
Medical questionnaire |
If your financial commitment exceeds 100 000$ or if your monthly payment is higher than 2,000$. Obligatory for critical Illness. |
Working requirements for Disability Insurance |
The Debtor must be engaged in a permanent remunerative employment and actively at work for a minimum of 30 hours per week for 40 weeks, during the 12 months immediately preceding the Effective date of insurance.
|
Critical Illness (available only with Life Insurance) |
Age at the date the Insurance Begins |
To be at least 18 years of age and at the most 65 years of age. |
Age at the date Insurance Stops |
71st birthday. |
Amount payable as benefit |
An amount equal to the Principal amount insured (outstanding amount of the debt). |
Maximum amount payable |
300 000$. |
Covered conditions |
Cancer, Coronary Artery Bypass Surgery, Heart Attack, Stroke, Coma and Major Burns. |
Term of Critical Illness must not exceed |
180 months. |
Medical Questionnaire |
Medical questionnaire needed. |
Involuntary Unemployment Insurance |
Age at the date the Insurance Begins |
To be at least 18 years of age and a maximum of 60 years of age. |
Age at the date Insurance Stops |
65th birthday. |
Maximum payable monthly |
750$ (maximum 6 benefit payments) |
Term of Total Disability must not exceed |
Maximum of 6 monthly payments. |
Working requirements for Disability Insurance |
The Debtor must be engaged in a permanent remunerative employment and actively at work for a minimum of 30 hours per week for 40 weeks, during the 12 months immediately preceding the Effective date of insurance. |
Generality |
Pre-Existing Condition |
A pre-existing condition means an illness or disease, injury or physical condition which occurs within the first twenty-four (24) months of the coverage and for which treatment or treatment recommendations in the form of medical advice, consultation, diagnostic, or treatment by a physician were received within the twelve (12) month period immediately preceding the Effective date of the insurance. |
Declaration |
Furthermore the customer declares:
- that he is not currently disabled, and no physician has advised him , nor recommended
a hospitalization or a medical investigation which has not yet occurred;
- that he has never suffered from cancer or diabetes;
- that he has never suffered from or been treated for AIDS or any related disease and
has never tested positive for HIV antibodies.
The customer understands that if he does not satisfy one or more of the conditions above, that the exclusion/limitation relating to pre-existing conditions for these specific conditions will apply for the whole duration of the coverage. |
Charge Back
|
30 days
|