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Getting sick is not something any of us like to think about. But it happens. Thanks to improvements in healthy living and medical science there's a good chance you will recover and get on with your life. But getting better costs money.
The cost to treat and cope with a critical illness is often significant and unexpected. That is where we can help. It provides a cash benefit if you are diagnosed with one of the Covered Conditions described in your contract and you survive the waiting period.
Covered Conditions
Here is a list of conditions covered under the Lifecheque plans
- Cancer
- Coronary Bypass
- Heart Attack
- Stroke
- Alzheimer Disease
- Aortic Surgery
- Benign Brain Tumour
- Blindness
- Coma
- Deafness
- Heart Valve Replacement
- Kidney Failure
- Loss of Limbs
- Loss of Speech
- Major Organ Transplantation
- Major Organ Failure (on waiting List)
- Motor Neuron disease
- Multiple Sclerosis
- Occupational HIV Infection
- Paralysis
- Parkinsons Disease
- Severe Burns
There is more. Thanks to advancements in medical science, many illnesses that were once critical can now be treated with great success, especially with early intervention. The earlier the treatment, the faster the recovery.
That's why our Early Intervention Benefit is so important. It offers a cash benefit of 25% of your coverage (up to a maximum of $50,000) for coronary angioplasty, ductal carcinoma in situ of the breast, or stage A (T1a or T1b) prostate cancer.
Getting your money fast means your recovery can begin sooner.
Let's face it. If you're diagnosed with a critical illness, you'll probably spend lots of time waiting for appointments, test results, treatments and so on. With our Recovery Benefit, you can get some money faster without having to fulfill the waiting period.
It gets better. If you qualify for our LivingCare Benefit, you'll receive a monthly Care Benefit if you become functionally dependent and satisfy the waiting period (180 days).
Functionally dependent means you require assistance with two or more of the Activities of Daily Living or you require substantial supervision due to a cognitive impairment.
Simplified Issue Critical Illness Insurance
Simplified Issue critical illness insurance provides you with a lump-sum payment after a critical illness is diagnosed. As a result, you can devote 100% of your energies to your recovery, without worrying about the financial impacts of the illness.
Who Should Consider Critical Illness Insurance?:
- Anyone who wishes to be protected against financial concerns resulting from a critical illness
- Persons who would like to obtain specific medical treatments;
- Parents who would have to temporarily leave their jobs to devote themselves to the recovery of their child;
- Persons who would like to have home nursing care or to go on a trip to assist in their recovery;
- Business owners or self-employed workers who would have to compensate for the loss of productivity or clients after an illness.
Features and Advantages of Disability Insurance
- You obtain a tax-free lump-sum payment 30 days* after diagnosis of a critical illness. This payment may be used in any way you wish, without restriction.
- Your premiums and protections are guaranteed, renewable every 10 years or level up to the age of 75 years or for your lifetime.
- You can obtain protection of between $10,000 and $2 million.
- Industrial Alliance reimburses the premiums in the event of the insured's death if the insured was not entitled to payment of the Transition benefit.
- You may surrender your insurance and obtain a refund of your premiums.*
- Additional benefits are available.
- You may insure up to nine persons under the same contract.
* Certain conditions apply.
Non Medical Life Insurance
This No-Medical 10 Year Term policy is a renewable and convertible 10-year term plan. Your premiums will never increase during the initial 10-year period. You can renew your policy without any additional medical information for additional 10-year periods. To qualify for coverage, you only need to answer "No" to some simple health questions. There are no other medical requirements. This plan is renewable to age 75 and can be converted to a permanent life insurance plan before the age of 65. This policy is available for those aged 18 to 65.
Standard Benefits :
Coverage : The minimum amount you can apply for is $25,000. The maximum coverage is based on the following ages
- 18 to 40: $250,000
- 41 to 50: $200,000
- 51 to 60: $150,000
- 61 to 65: $100,000
Renewable : You can renew your policy every 10 years to age 75. Your premiums remain the same through each 10-year period. This benefit is included at no extra cost.
Convertible : Prior to age 65, you may convert this policy, without any new medical questions, to one of a number of permanent life insurance plans. This benefit is included at no extra cost.
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 $35.
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