Assumption Life offers a great non-medical critical illness insurance plan

Assumption Life

Assumption Life has one of the only non medical critical illness products on the Canadian insurance market. Applicants can qualify for coverage in 24 hours by answering “No” to five health related questions. There are no questions related to family health history. Applicants who have been declined or rated in the last two years will not be eligible – so applying to Assumption Life gives the insured a safety net if he/she is not approved elsewhere.

The coverage is available to policyholders aged 18 to 60 and is guaranteed renewable to age 75. The coverage increments are $10,000, $20,000 and $30,000 and are available on a single life or multi life basis.

The policy pays out a lump sum if the insured is diagnosed with any of the following five illnesses: cancer, stroke, heart attack, kidney failure or vital organ transplant. There are exclusions on the policy such as pre-malignant lesions, benign tumours or polyps. Sample policy documents are available for a full list of policy features and exclusions. Another terrific feature is the return of premium option on maturity. If the insured stays healthy until age 75, and a claim is not made, all premiums are returned.

The face amounts are smaller but the premiums are affordable. A 35-year-old male non- smoker applying for $30,000 of coverage will pay $30.40 a month. If the insured chooses to add the return of premium on maturity, the monthly premium is $37.09.

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  • LSM Insurance
    May 19, 2009 at 5:37 pm

    Hi Alphonse,

    Thanks for the note I will be in touch with you soon.

    Regards … Lorne

  • Alphonse Guimond
    May 19, 2009 at 2:47 pm

    I am requesting coverage for my father.

  • LSM Insurance
    November 1, 2008 at 10:54 am

    Thanks James. I will send you a seperate email. The maximum face amount is $30,000. Best Regards .. Lorne

  • james bray
    November 1, 2008 at 10:26 am

    Send me costs for $400.000 term insurance for a 50 year old man

  • Life Insurance
    October 31, 2008 at 12:26 pm

    Thank you for your info. Life insurance is so essential. It’s good to know as much as you can.