50+ Life Insurance is affordable life coverage that provides you with taxsheltered savings to help your loved ones fulfill your last wishes without taking a huge chunk out of their inheritance or creating a financial burden for them.
No medical exam
One advantage is that you don’t have to make an appointment with your physician to undergo a medical exam. Once we've determined you're
eligible based on these four health-related questions, we can offer you
beneficial and affordable coverage. And you will never have to undergo a medical exam… ever!
Immediate coverage
Your coverage takes effect as soon as you give your verbal consent by phone or sign the insurance application. This means full benefits are paid even if you die during the first two years of coverage. This is not the case with other similar products on the market which only reimburse you the premiums you’ve paid.
Fixed non-taxable insurance amount
Another advantage of 50+ Life Insurance is that the insurance amount you choose ($5,000, $10,000, $15,000 or $20,000) will never decrease and it’s non-taxable. This isn’t the case for all your accumulated assets (property, investments, RRSPs, pension plans, etc.). In fact, income taxes can take a big chunk out of your estate once you and your spouse have died.
That’s not all! You'll get 5 times your insurance amount if you die as a result of an accident before age 85.
Possible of early payment during lifetime
You could receive up to 50% of your insurance amount during your lifetime if your life expectancy is less than two years. No one really knows how much longer the public health care system will be able to offer free services. This money can be used to help you through the last part of your life.
During your illness, you can use the money to cover certain expenses such as:
- private care;
- home care services, and
- accommodations at a centre for individuals who have lost their independence.
The money can also be used to allow a family member to take a leave of absence without pay to become your natural caregiver. That way, they won’t have to go into debt or experience financial difficulties because they are caring for you. The balance of your insurance amount will be payable at your death.
Premium based on age at time of purchase
The premium is based on your age at the time of purchase. If you enrol at age 59, you will keep paying the premium for a person aged 59, even 10 years later! This means the younger you are when you take out this coverage, the lower the premium will be.
20-day money back guarantee
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As soon as you receive your 50+ Life Insurance contract, you will have a 20-day examination period to read through all its terms and conditions at your leisure, with no obligation on your part, while being insured. If you change your mind during this period, we will cancel your contract and refund your initial premium, that’s guaranteed! |
Free assistance services
50+ Life Insurance also gives you unlimited access to our free assistance services. Among other things, our advisors can help you find resources in your area for homecare and private convalescent homes. You and your beneficiaries
can also take advantage of a unique succession settlement service.
Assistance services also include psychological assistance from helping relationship specialists who will listen to you when you are grieving or facing problems in your life and help you find short-term solutions.
Very affordable coverage
50+ Life Insurance is one of the most affordable coverages on the market. For a premium as low as $18.30 a month, a woman age 60 can get $5,000 in coverage. Don't put it off any longer! The longer you wait, the more expensive it will be. Premiums vary based on your age, so on your next birthday, it will cost you that much more to take out this coverage.