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Please note that The Bank of Canada will be closed on Thursday, September 30th for the federal holiday “National Day of Truth and Reconciliation.” In result of the closure, the pay for the period ending on September 27th, 2021 will be deposited on Friday, October 1st 2021.

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Simplified Issue Products

Simplified Issue products can vary depending on your client’s health. Assumption Life offers many options for the healthier to the hard-to-insure.
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Not sure which Simplified Issue product your client qualifies for?
Try our Simplified Selection Tool and get a preliminary quote!

Why Assumption Life?
  • Among the best rates in the industry for clients aged 40 and over
  • Most immediate solutions in the industry – Why sell deferred?
  • Unified questionnaire - The more questions your client answers “NO”, the better premium they get
  • Coverage available for Non-residents
  • Issue ages up to 85 for all Simplified Issue products
  • Term and 20-pay options available
  • Competitive FYC with lifetime renewal commission

Permanent Insurance

Platinum Protection Immediate coverage with the best available premiums. Ideal for healthier clients or those with a stable medical history.
Product details
  • Issue ages: 18-85
  • ​Minimum coverage: $10,000
  • Maximum coverage: $250,000 (up to age 70) $125,000 (ages 71-85)
  • Premium payment options:
    • Life pay (ages 18-85; payable to attained age 100)
    • 20-year pay (ages 18-80)
  • Cash surrender values start after the 5th anniversary of the policy
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
  • Optional riders:
    • Accidental Death
    • Accidental Fracture Plus
    • Child Insurance Benefit
  • ​Electronic application with Lia
  • Data collection form available.

* Restrictions apply.

 

Product Guide   Quick Reference Guide
Golden Protection EliteImmediate coverage with competitive premiums. Ideal for clients with a medical history

Product details

  • Issue ages: 18-85
  • Minimum coverage: $10,000 (ages 18-70) $5,000 (ages 71-85)
  • Maximum coverage: $150,000 (up to age 70) $50,000 (ages 71-80) $25,000 (ages 81-85)
  • Premium payment options:
    • Life pay (ages 18-85; payable to attained age 100)
    • 20-year pay (ages 18-80)
  • Cash surrender values start after the 5th anniversary of the policy
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
  • Optional riders:
    • Accidental Death
    • Accidental Fracture Plus
    • Child Insurance Benefit
  • Electronic application with Lia
  • Data collection form available

* Restrictions apply.


Product Guide   Quick Reference Guide

 

Golden ProtectionThe only immediate coverage option in its health class. Ideal for clients that have medical conditions or are harder to insure

Product details

  • Issue ages: 40-85
  • Minimum coverage: $5,000
  • Maximum coverage: $100,000 (ages 40-70) $50,000 (ages 71-80) $25,000 (ages 81-85)
  • Premium payment options:
    • Life pay (ages 40-85; payable to attained age 100)
    • 20-year pay (ages 40-80)
  • Cash surrender values start after the 5th anniversary of the policy
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
    • Accidental Death
  • Optional riders:
    • Accidental Fracture Plus
  • Electronic application with Lia
  • Data collection form available

* Restrictions apply.


Product Guide   Quick Reference Guide

 

Silver ProtectionGraded deferred coverage among the best premiums in its health class. Ideal for clients with serious and/or severe medical conditions
Product details
  • Issue ages: 40-85
  • Minimum coverage: $5,000
  • Maximum coverage: $50,000 (ages 40-70) $25,000 (ages 71-85)
  • Premium payment options:
    • Life pay (ages 40-85; payable to attained age 100)
    • 20-year pay (ages 40-80)
  • Cash surrender values start after the 5th anniversary of the policy
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
  • Accidental death
  • Optional Riders:
    • Accidental Fracture Plus
  • Electronic application with Lia
  • Data collection form available

* Restrictions apply.


Product Guide   Quick Reference Guide

 

Term Insurance

Platinum ProtectionImmediate coverage with the best available premiums. Ideal for healthier clients or those with a stable medical history
Product details
  • Issue ages: 18-70
  • Coverage from $50,000 to $250,000
  • Term options: 10, 20 years
  • Renewable
  • Convertible
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
  • Optional riders:
    • Accidental Death
    • Accidental Fracture Plus
    • Child Insurance Benefit
  • Electronic application with Lia
  • Data collection form available

*Restrictions apply.
 

Product Guide   Quick Reference Guide

 

Golden Protection EliteImmediate coverage with competitive premiums. Ideal for clients with a medical history
Product details
  • Issue ages: 18-70
  • Coverage from $50,000 to $150,000
  • Term options: 10, 20 years
  • Included benefits:
    • Living Benefit: 50% of sum insured in case of terminal illness
    • Transportation Benefit (200km/up to $2,000)
  • Optional riders:
    • Accidental Death
    • Accidental Fracture Plus
    • Child Insurance Benefit
  • Electronic application with Lia
  • Data collection form available

* Restrictions apply. 
 

Product Guide   Quick Reference Guide

 

Included Benefits

Accidental Death Benefit
The Accidental Death Benefit is included on our Golden Protection and Silver Protection products.
It is available as a rider for our Platinum Protection and Golden Protection Elite products.
 
This benefit provides coverage in the event of an accidental death of the insured. It is an additional amount equal to the sum insured of the policy or rider paid to the beneficiary.
 
Limitations including:
  • The death must occur within 90 days of the accident.
  • The combined total payable under the death benefit and the accidental death benefit is limited to a maximum of $150,000 for each insured.
Subject to certain limitations and exclusions.
 
Transportation Benefit
The Transportation Benefit is included on all our Simplified Issue products.
 
If the Life Insured dies more than 200 km away from their primary residence, a benefit of up to $2,000 in Canadian currency will be payable to cover the expense of transporting the remains to the primary residence. This benefit is payable after the second anniversary of the policy or rider.

Subject to certain limitations and exclusions.
 
Terminal Illness Benefit
The Terminal Illness Benefit is included on all our Simplified Issue products.
 
This benefit ensures that if the life insured is diagnosed with a terminal illness 180 days after the date of issue of the policy, the policyholder qualifies for 50% of the sum insured. This benefit is payable after the second anniversary of the policy or rider.

Subject to certain limitations and exclusions.