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Canada Life’s Disability Insurance Lump Sum Benefit
Canada Life offers a
lump sum benefit if you become disabled.
Photo by Chelsea Oakes
Canada Life offers a Disability Lump Sum Benefit, which is a built-in feature on the company’s Universal Life policy.
The feature works as follows:
In the event that the primary insured becomes disabled as defined in the contract, Canada Life pays an amount equal to a percentage of the unloaned portion of the policy's cash surrender value. This excludes any guaranteed cash surrender value. (Minus six months cost of insurance deductions and any applicable market value adjustment.) The benefit may also be subject to tax.
For more details on the Disability Lump Sum Benefit, or to compare Canada Life's Universal Life Insurance pricing with other Canadian Universal Life insurance policies, please contact us at 1-866-899-4849 and visit our Universal Life Quote Page.
Posted by Chantal Marr.
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