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No Medical Simplified Life

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The Simplified Life policy is designed for the hard-to-insure, seniors, and those who do not want to take the time for a medical examination or wait for a doctor's report. There are a number of options available with this plan. It can be purchased by those 25 to 80.

Standard Benefits
Benefits
Benefit amounts range from $1,000 to $50,000.

Free Terminal Illness Benefit
If you are diagnosed with a terminal illness, you can receive up to 25% of your coverage amount while you are alive. A terminal illness is defined as an illness that is expected to end your life in less than 2 years. Any amount paid under this benefit will be deducted from your coverage amount at the time of death. This benefit is included at no extra cost.

Free Transportation Benefit
If you pass away more than 200 km away from home, up to $2000 will be paid to transport your body back home. This benefit is included at no extra cost.

Cash Value
Starting in the 5th policy year, you can cancel your coverage and receive a percentage of your premiums. This benefit is included at no extra cost.

Automatic Premium Loan Provision
Once you have made a number of premium payments, and you miss a payment then the insurance company automatically borrows (with interest) against the policy coverage to pay your missed premium. Any missed payments can later be repaid to return your coverage amount to its full value. This benefit is included at no extra cost.

Optional Features
Accidental Death Benefit
The accidental death benefit can equal your benefit amount, or be 3 times, or 5 times your initial coverage. This means that your beneficiary would receive a total of 2, 4, or 6 times your initial coverage amount ($125,000) if you passed away in an accident. This option can be purchased by those under 65 and the benefit ends at age 70.

Child Term Rider
This option can be purchased for children from 1 month to 18 years of age. It provides $5,000 in coverage per child up to age 21, or age 25 if the child is a full-time student (or until the policyholder turns 65). If the Child Term Rider is purchased, you will need to complete form CPP01 - Child Term Benefit Questionnaire.

Hospital Cash Benefit
This optional benefit pays $25, $50, or $100 a day while you are in hospital up to 180 days and double the benefit amount if you are in ICU (Intensive Care Unit) for up to 30 days.

Payments
Premium payments may be made annually or monthly. All payments can be made through your bank account or credit card. There is an annual policy fee of $60. There is a $40 policy fee for an optional second policy.

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