Canada Life – Two Needs, One Discount

Posted on March 3, 2008 and updated June 11, 2010 in Life Insurance Canada News 2 min read
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Canada Life’s Dual Solutions premium reduction allows clients to satisfy two separate needs and receive a 5% discount on each product. Depending on the size of the policies, this can translate into significant savings.

Critical illness insurance pays out a lump sum tax-free payout if the insured is diagnosed with one of the listed illness—this money can be used to cover one-time out-of-pocket expenses, such as home renovations or medical treatments outside of Canada.

Disability insurance is used as an ongoing income replacement vehicle. Separate needs often require separate solutions, and the Dual Solutions premium reduction makes solving this need more affordable.

There are certain exclusions:

  • Premium reduction is only available if both policies are taken out simultaneously

  • It is not available on critical illness conversions

  • It is not available on disability future insurability options

  • It is not available with any other premium reduction programs