New question in Life Insurance FAQ

Posted on September 28, 2010 and updated February 21, 2011 in Life Insurance Canada News, Life Insurance FAQ 1 min read

New question in Life Insurance FAQ:

Does Empire Life Insurance pre pay the full amount of the policy in cases of terminal cancer?

No company will pay the full face amount in the event of a terminal illness. It will depend on when the policy was issued and the contract provisions usually if the insured is diagnosed with less than one or two years to live by a doctor the insurance company will advance up to 50% of the death benefit – the maximum is usually capped at $100,000. The attached article discusses the issue in more detail

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