Term Life Insurance – Special time-limited offer for Alberta School Board Employees from our partners at iA Financial Group
With standard application procedures, it can be difficult to qualify for life insurance. Medical history and lifestyle information is usually required. In some cases, a medical exam may be requested. Acceptance by the insurance underwriter then depends on your personal health and medical history.
Under our partnership with iA Financial Group, eligible Alberta School Board Employees have the unique opportunity to apply for term life insurance. For a limited time, you and your spouse can purchase up to $50,000 of Guaranteed Acceptance Term Life Insurance – no health and lifestyle questionnaires, no medical testing needed. It’s a simple way to have the peace of mind, knowing that your family will be protected whatever happens.
Extra features that come with your plan (see the application site for full details):
Career retraining for your spouse In the event of your death, up to $10,000 to receive occupational training should they need to change careers.
Help with daycare costs If you die while your kids are still daycare age, the plan will reimburse for daycare up to 5% of your coverage (max of $5,000 per year) per child for up to four consecutive years.
Post-secondary assistance If your child is in post-secondary when you die (or 365 days after), the plan will reimburse education expenses up to 5% of your coverage – to a max of $5,000 per year, per child, for up to four consecutive years.
Compassionate Living Benefit: 50% of your Life coverage may be payable if diagnosed with a terminal illness.
See "What you need to know", below, for important details
This offer is only available for the campaign period (November 2 – 30). For more details and to apply for coverage, click the link below.
What you need to know:
Limitations and Exclusions: for the first two years that this policy is in place, it will only pay out in the case of accidental death. If you die because of illness within those first two years, the insurance company will only repay your premiums, plus 5% interest.
What if I want this exclusion removed? At the time of application, you have the opportunity to apply for additional coverage (above the $50K Guaranteed amount), which will be underwritten. This means that you answer health questions, and if approved by underwriting, they will remove that exclusion, and you’ll have full coverage from the time the policy is in force.
However, if the insurance company deems your risk level to be too high (for example, because of health, lifestyle or build issues) then you won’t be able to access the guaranteed amount.
Who is this coverage best suited for? If you’re a person with a certain health history, or lifestyle or build that insurance companies sometimes shy away from, you could face a decline or a “rating” when applying for insurance (asked to may more than normal). With a reasonable expectation of living more than two years (barring an accident), this is one chance to put coverage in place.
Or, if you just feel like you should get something in place but don’t want to go through the process of even dealing with any medical questions, this may be an option for you.
How much does it cost: Full rates are available on the application page here
Other options: However, this isn’t your only option for coverage, and you can always contact us to explore what options you have to protect yourself and your family.
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