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Deferred Elite Term Life Insurance

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Product Overview

Obtaining insurance coverage when you are already diagnosed with an ill-health condition (whether serious or not) may be difficult. In many cases, several restrictions will be posed for such individuals to access insurance coverage. Deferred elite term life insurance plan is established for such individuals with less serious illness to obtain fast and effective insurance plans. Deferred Elite term life insurance is guaranteed not to turn you away especially if you have less serious conditions. The application process for this plan does not involve any medical procedure but the plan includes some mouthwatering benefits that make it desirable to all and sundry.

Features and Benefits

Deferred Elite Term life insurance has basically four plan options. These include a 10-year term, 20-year term, a 25-year term and 25 decreasing year term. These plans are available to different age limits. For instance, the 10-year term is available for people from 18-70 years, 20-year term 18-60 years old, and 25-year term 18-55 years old.

  • The minimum and maximum face amount for each of the coverage options are respectively $25,000 and $350,000.
  • With the exception of the 25 decreasing year term, each of the other terms can be renewed to age 80.
  • With the exception of the 25 decreasing year term, each of the other terms is convertible to age 70.
  • Each of the terms includes accidental death benefits and child term optional benefits.
  • Coverage amount for the 25 decreasing year term decreases over a period of 25 years. It can decrease up to the 50% of its initial face value.
  • The 25 decreasing year term can neither be renewed nor converted.
  • This insurance plan is suitable for Canadians with less serious health conditions.

 

 

Additional resources

Learn more about your other insurance options from these informative articles.

Insurdinary provides a comprehensive quotes comparison sends straight to your inbox so you can start comparing health coverage in minutes. See plans from several major Canadian insurers to choose the right option for you. Our customer health specialists are also available to address your questions and concerns.

For more information, you may contact us at 1-877-574-7475, or complete the form below.

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