Union of Canada’s Non-Medical Life Insurance Policy

Posted on August 19, 2011 and updated August 24, 2011 in Canadian Life Insurance Companies, Insurance Types, Life Insurance Canada News, Non-medical, Union of Canada Life Insurance 2 min read

Union of Canada offers a non-medical life insurance policy called Protection Plus.

The policy is available to insured people age 45 to 75, and the amount of insurance can range from $5,000 to $25,000 of coverage. The premiums on the policy are guaranteed paid-up at the end of twenty years.

The plan offers a guaranteed cash value with reduced paid-up amounts of insurance available after the tenth anniversary of your possession of the policy. The death benefit is limited to a return-of-premium plus 10% interest in the first two policy years for a non-accidental death.

Premiums are based on age nearest pricing. The following is an example of $10,000 of coverage for both a 60-year-old male and female. The policy uses a blended non-smoker/smoker rate. This is an advantage to smokers and an obvious disadvantage to non-smokers, who normally receive a discount on other plans that don’t offer a combined rate:

A 60-year-old male would pay $54.78 per month.

A 60-year-old female would pay $42.83 a month.

For more details, you can contact us at 1.866.899.4849 or visit our Non-medical Life Insurance Quote Page.

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