Temporary critical illness insurance

Subject to exclusions and restrictions, some of which are described below, from the moment the application is signed, temporary insurance coverage is available on any insured person age 65 or less, equal to the amount of the critical illness insurance benefit applied for, up to a maximum of $500,000 per insured person and applies to any and all pending critical illness insurance applications with the company. A full description of the temporary insurance is included in the Application for life and/or critical illness insurance - 810-2799

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Temporary insurance coverage is available if:

  • the temporary insurance questions in the application have been truthfully answered
  • all other required questions in the application have been truthfully and completely answered, and
  • a payment of at least 1/12th of the annual premium for the base policy and any additional benefits has been made with the application.

The temporary insurance coverage provides immediate coverage and terminates on the earliest of:

  • the instant the insurance applied for comes into effect
  • the day we decline the application for insurance, upon which we will mail a notice of the decline to the address given in the application
  • the 90th day following the date the application for insurance was signed
  • the date the proposed owner asks us to cancel the application
  • the date the proposed owner declines our offer of insurance, or
  • the 30th day following the date the application for insurance was signed and we have not received the required Identity verification and third party determination information with the application.

In the unlikely event we are not able to complete the underwriting assessment in 90 days, the temporary insurance coverage will terminate and any premiums paid will be refunded.