Guaranteed Acceptance Life Insurance provides a permanent insurance solution to those aged 40 to 74 years, who may not be eligible for traditional life insurance plans. It is designed for those who are looking for a lower amount of insurance to cover final expenses and other debts remaining after death.
The coverage amount you choose will always stay the same. Your family can use the amount to cover expenses, such as funeral costs, credit card balances or unpaid bills.
- We offer coverage amounts ranging from $5,000 to $25,000, in increments of $5,000
- Your premium is locked in, as long as your smoker status remains the same
In the case of non-accidental death within 2 years of your effective date, the benefit amount is the sum of all premiums collected.
What is not covered:
Please note that within the first 2 years, the benefit amount payable for death other than accidental death is the sum of all premiums you have paid to date.
No benefit will be payable:
- If death results directly or indirectly from the commission or attempted commission of an indictable criminal offence
- If your policy is declared to be void due to a material omission of information, misrepresentation or fraud
In addition, you cannot:
- Add a spouse to your policy after it is issued
- Increase or decrease the coverage amount of your policy after it is issued. Additional coverage may be purchased, through a new policy, subject to a maximum total coverage amount of $25,000 for all policies issued