Seniors Insurance

by Jatinderbir Singh Bajwa, Insurance Broker


Choosing Seniors Life Insurance

The insurance market for Canadian seniors looking for life insurance offers more opportunities than ever before. There are a multitude of options and many insurance companies now offer life insurance to individuals at virtually any age.

seniors insurance

Here are two popular life insurance options offered to seniors:

  • Simplified Issue Life Insurance
  • Guaranteed Issue Life Insurance

If we consider the facts, many insurance companies offer coverage up to age 85. The benefit amount can be as low as $5,000 for those looking to cover final expenses. Insurance companies offer last-to-die policies at a lower rate than traditional life insurance. Simplified and Guaranteed issue policies are available for individuals with health issues. These policies feature no medical tests and very simple health questionnaires. Upon completion of an enquiry form you get a free, no obligations quote on Seniors Life insurance. There is no charge for our services and you are under no obligation to accept the quotes you receive.

 

Seniors Insurance usually covers:

  • Money for Any Purpose
  • Cover drug and medical expenses not covered by your health plan
  • Find the best treatments available
  • Pay off your mortgage
  • Take a vacation
  • Reduce your working hours to help you recover. 

You are covered for life as long as you continue to pay your premiums. Your Seniors Life insurance protection is guaranteed not to decrease and your premium is guaranteed never to increase for as long as you own the policy – even if your health changes. Your full life insurance protection is in place from the very first day coverage begins. There is no waiting period.

 

No medical exam — you don’t have to see a doctor to enrol

This coverage is for individuals only. One policy per person immediate, affordable insurance coverage. With benefit levels from $2,500 up to $25,000, Senior Life is a simple way to get the insurance coverage you need to protect your loved ones in the event of your death. You also save money when you select a larger benefit amount. The greater the benefit level, the lower your cost for each $1,000 of insurance protection. So the higher the coverage level you choose, the more you’ll save.You can enroll for coverage, without having to submit proof of good health, within 60 days of their group coverage ending. There’s no need for a medical exam, and no appointment is necessary.

 

What’s not covered?

All insurance products have some limitations and exclusions you should understand in advance. In this case, you will not receive benefits if:

  • Your death results from suicide within two years after you get your policy, although we will refund your premiums in this case.
  • You provide false information in your serious illness declaration or about your non-smoking status.

Keep in mind that this information is only a summary. Actual terms, exclusions and limitations are explained in the policy that will be issued to you. You can always sign up for a 30-day free look to see full details in the terms and conditions of your Seniors Life.

 

Benefits for home or facility care.It will allow you the financial security to:

  • Protect your retirement savings and income
  • Preserve an inheritance for your loved ones
  • Eliminate the burden placed on your family caused by long term care needs

Who’s eligible?
Coverage is available to retiring or terminating employees who are Canadian residents age 18 to 74 (coverage is renewable for customers ages 75 and over). These employees can add their spouse and dependent children to their policy, if they were also covered under the employee’s previous group benefits plan.
To get started you must first choose the amount you want to get from$25,000 to $2 million in coverage.

 

Covers 26 Illnesses.

  • Alzheimer’s Disease
  • Aortic Surgery
  • Aplastic Anaemia
  • Bacterial Meningitis
  • Benign Brain Tumour
  • Blindness
  • Life-threatening Cancer
  • Coma
  • Coronary Artery Bypass Surgery
  • Deafness
  • Early Discovery Benefit
  • Heart Attack
  • Heart Valve Replacement
  • Kidney Failure
  • Loss of Independent Existence
  • Loss of Limbs
  • Loss of Speech
  • Major Organ Transplant
  • Major Organ Failure on Waiting List
  • Motor Neuron Disease
  • Multiple Sclerosis
  • Occupational HIV Infection
  • Paralysis
  • Parkinson's Disease
  • Severe Burns
  • Stroke