New question in Life Insurance FAQ

Posted on January 16, 2012 and updated January 16, 2012 in Life Insurance Canada News, Life Insurance FAQ 1 min read

New question in Life Insurance FAQ:

Is there a certain amount of time a policy needs to be in effect before full death benefits are paid?

Most life insurance policies in Canada pay out from day one – except in instances of suicide or if their is meaningful non disclosure on the application. Guaranteed issue policies (no health questions and no medical tests) have a 2 year waiting period on the death benefit and some Simplified Issue policies (3 to 12 health questions and no medical tests) have a two year waiting period on the death benefit.

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