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Guaranteed Issue and Simplified Critical Illness Insurance

(Underwritten by Chubb Life Insurance Company of Canada)

Insured Conditions  |  Amounts Available  |  Automatic Increase of Benefit  |  Second Event Benefit  |  Pre-existing Condition Limitation  |

 

 If the Insured is diagnosed with or meets the definition of an Insured Condition or a Partial Payment Benefit condition, after the effective date or latest reinstatement date of coverage, and survives a period of 30 days following the date of diagnosis, or such longer period of time set out in the description of the insured condition or Partial Payment Benefit condition, the Company will pay the applicable benefit.

 

Issue Ages:  Available for applicants aged 18-64, with coverage to age 70

 

Insured Conditions:   23 Critical Conditions!

 

Aorta Surgery

Occupational HIV Infection Parkinson's Disease
 

Deafness

Blindness Severe Burns
 

Motor Neuron Disease

Heart Valve Replacement Coma Major
 

Alzheimer's Disease

Paralysis Organ Failure
 

Dismemberment

Cancer Stroke
 

Multiple Sclerosis

Cancer Recurrence Coronary Artery Bypass Surgery
 

Benign Brain

Loss of Independence Major Organ Transplant
 

Tumor Heart Attack

Loss of Speech  

 

Partial Payment Benefits

DCIS Benefit (Ductal carcinoma in situ)

Early Stage Prostate Cancer (T1a or T1b) Treatment

 

Amounts Available

Tier 1 - Guaranteed Issue Critical Illness, no medical questionnaire required:  available in units of $5,000 up to $25,000.

Tier 2 - Simplified Critical Illness, simplified medical questionnaire required: If qualifying questions are satisfied, an additional $25,000 is available for a maximum total of up to $50,000 of Critical Illness coverage in force with EDGE.

Tier 3 - Simplified Critical Illness, simplified medical questionnaire required : If Tier 2 is achieved AND qualifying questions are satisfied, an additional $25,000 OR $50,000 is available for a maximum total of up to $100,000 of Critical Illness coverage in force with EDGE.

 

Automatic Increase in Benefit

If, after 5 years from the original effective date, the Insured's insurance has been continuous and the premium is paid in full, the Company will automatically increase the Principal Sum by 5% of the original amount of insurance purchased. The Company will provide this increase at 5 year intervals on the basis of such insurance being continuously in place and premiums paid in full, every 5 years, up to a maximum of 25% additional insurance being added to the original Principal Sum. The 5% additional insurance is based on the original amount of insurance purchased and will not be compounded over the duration of the policy.

 

Second Event Benefit

If the Insured Person is diagnosed with either of the following: Cancer, or Cardiovascular Condition (defined as Heart Attack, Stroke, Coronary Artery Bypass, undergoes Aorta Surgery or Heart Valve Replacement) for which the Principal Sum has been paid, and the Insured Person is thereafter considered (by the treating physician) fully recovered and not actively receiving treatment and has returned to work for a period of at least 90 days; and is then diagnosed with another Insured Condition, the Second Event benefit payable will be equal to the Principal Sum.

The first event must be cancer, heart attack, stroke, coronary artery bypass, aorta surgery, or heart valve replacement in order to be eligible for a 2nd event claim.

The Second Event Benefit is subject to the Insured Person surviving 30 days after the diagnosis of such Insured Condition. In order to be considered an eligible Second Event condition the first event and the second event cannot fall into the same Category of Conditions, except as provided by Cancer Recurrence.

The Second Event Benefit is payable only once. Payment of the Second Event Benefit will represent full and final discharge of all claims under the Second Event Benefit. Following Payment of the Second Event Benefit, coverage under this policy will terminate.

 

Pre-existing Condition Limitation

There is a 24/24 month Pre-Existing Condition Limitation.

"Pre-existing Medical Condition" means a sickness suffered from or injury sustained by an Insured Person for which he or she sought or received medical advice, consultation, investigation, diagnosis, or for which treatment was required or recommended by a licensed medical practitioner during the twenty four (24) months immediately prior to such Insured Person’s effective date of insurance or prior to any increase in the amount of insurance and which directly or indirectly causes the insured condition to occur within the first twenty four (24) months from the Insured Person’s effective date of insurance or from any increase in the amount of insurance.

- ANY COVERED CONDITION DIAGNOSED PRIOR TO THE EFFECTIVE DATE - WILL NEVER BE ELIGIBLE (excluding Cancer Recurrence Benefit).

- ANY MEDICAL CONDITION DIAGNOSED PRIOR TO THE EFFECTIVE DATE WHICH LEADS TO A COVERED CONDITION WITHIN 24 MONTHS AFTER THE EFFECTIVE DATE – WILL NOT BE ELIGIBLE.

- ANY MEDICAL CONDITION DIAGNOSED PRIOR TO THE EFFECTIVE DATE WHICH LEADS TO A COVERED CONDITION 24 MONTHS AFTER THE EFFECTIVE DATE – WILL BE ELIGIBLE.

 

Other Exclusions and Limitations

This policy does not provide benefits for any claim caused directly or indirectly by or resulting from any of the following:

intentionally self-inflicted Injury,

suicide or any attempt thereat, while sane or insane;

declared or undeclared war or any act thereof;

for Injury or Sickness, other than one of the Insured Conditions, even though such Injury or Sickness may have been complicated by one of the Insured Conditions;

a complication of Human Immunodeficiency Virus (HIV) infection or any variance thereof including AIDS and AIDS Related Complex;

the use, existence or escape of nuclear weapons, material or ionizing radiation from or contamination by radioactivity from any nuclear fuel or waste from the combustion of nuclear fuel;

the commission or attempted commission by the Insured of any act which if adjudicated by a court would be an illegal act under the laws of the jurisdiction where the act was committed;

misuse of medication or the abuse of drugs or intoxicants;

any Pre-existing Medical Condition, if applicable.

For paralysis, blindness, deafness, major burns, stroke, coma or dismemberment, no benefit will be paid if the condition is a result, directly or indirectly, from amateur or professional boxing, bungee jumping, B.A.S.E. jumping, cliff diving, mountain climbing, motor vehicle race or speed competition on land and/or water, parachuting or underwater activities, including scuba and scuba diving.

 

NOTE: This is a brief overview of the Benefits, providing some key definitions, exclusions and limitations. Please refer to the policy booklet for complete details. In the event of any inconsistencies between this overview and the policy booklet wordings, the actual policy booklet wording will prevail.

 

 

Please call at 416-493-0101,1-877-443-0101 for more information and to apply for this insurance.

 

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Investments:    RESP     RRSP     TFSA     Segregated Funds

Revised: May 17, 2018.