Eight Reasons To Choose Industrial Alliance

Industrial Alliance advantage:
Child Life and Health

Industrial Alliance has several unique products and features within its life and living benefit insurance lineup. The following are eight key benefits that help separate Industrial Alliance from its competitors:

1.  Their Joint last-to-die policies offer an option in which the surviving insured can cash out the accumulation fund tax-free on the death of his or her first spouse.

2. Their Universal Life policy, with a yearly renewable term cost of insurance option, has a decreasing surrender charge, and there are no surrender penalties after the seventh policy year. This is less than most other carriers in Canada, which have a 10-year surrender charge scale by comparison.

3. The pricing on their Universal Life lineup is very competitive — especially within the 35 to 50 age range.

4. They have preferred rates at face amounts as low as $200,000 on their permanent life insurance policies.

5. Their Pick-A-Term policies have a unique feature in which the insured can choose terms ranging from a 10-year to a 40-year term, while the death benefit remains level or decreases regardless of the chosen timeframe.

6. Their Ultra 15 plan provides lifetime protection and is fully paid-up at the end of 15 years. The guaranteed cash value of the policy is also up to half of the initial death benefit at the end of the later period of 20 years or to age 65. There is also a full return-of-premium included with the policy’s death benefit. This plan has some unique benefits for business owners you can find out more here.

7. Their Child’s Life and Health dual policy provides a combination of life and critical illness insurance. The Critical Illness portion breaks down to half the initial life insurance face amount. The payment duration on the policy is 30 years, regardless of the age of the insured child when the policy is issued. At age 30, the critical illness coverage ends, but the insured can convert it to an adult individual critical illness plan.

8. The critical illness policies have a built-in “Loss of Independence” feature. Many other carriers charge an extra premium for this feature. Another unique feature within Industrial Alliance return of premium feature is that the money coming back to the policy holder is a true return of premium and not limited to the policy face amount. Fo policies sold to older applicants, smokers or renewable Term Critical Illness plans.  The amount of money the applicant pays over the years may exceed the face amount of the policy. Many companies will than limit the return of premium  to the face amount of the policy and not the total monies paid.

Okay we decided to add one bonus reason. Industrial Alliance’s hidden gem Life and Serenity 65 plan.  This policy provides Whole Life coverage with a Long Term Care component payable until age 100.   The coverage is available to applicants 15 to 60 with face amounts up to $1,000,000.  The plan has guaranteed premiums and guaranteed cash surrender values and reduced paid up insurance starting in year 11.  The monthly benefit at age 65 in case of 1 of 4 conditions (Parkinson’s Alzheimers, Paralysis, Loss of Independence).  Up to 100% of the face amount is available. Payable as 1% of face amount per month to a maximum of 100 months.  The policy premiums are waived when a claim is made.  Death benefit is always at least equal to 25% of the initial face amount.  Some other terrific features with the plan:

  • The policy is undeerwitten as a Life Insurance policy not an Long Term Care plan
  • No need to provide receipts. If the insured’s claim is approved, monthly benefit is paid.
  • The benefits paid out are tax free

With these eight points, Industrial Alliance’s insurance product offering has moved head and shoulders above their competition. If you’re at all interested in a policy from Industrial Alliance or want to look at other insurance options, call us at 1-866-899-48491-866-899-4849. You can also visit our Term Life or Critical Illness Quote Pages.

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