 Survivor's Financial Plan FAQ
- If I have a Heart Attack, recover in a few weeks or months, and return to work, does Survivor's Financial Plan pay me?
- I already have life insurance through my employer. Do I really need more insurance?
- Isn't my disability coverage enough?
- Why are only these three illnesses covered?
- Does a critical illness need to be terminal to collect?
- What if the critical illness is terminal?
- Is breast cancer covered?
- Is prostate cancer covered?
- My premiums are low now, but will they go up?
- How will I know if I'm eligible to make a claim?
| 1. | If I have a Heart Attack, recover in a few weeks or months, and return to work, does Survivor's Financial Plan pay me? |
Yes, it can pay you a lump sum based on the coverage you have selected, if you are diagnosed with Cancer, Heart Attack, or Stroke¹. (As defined in the Certificate of Insurance. Some restrictions apply.) Read the Survivor's Financial Plan Terms and Conditions for more information.
| 2. | I already have life insurance through my employer. Do I really need more insurance? |
Life insurance is important, but it does not provide benefits if you survive the critical illness.
| 3. | Isn't my disability coverage enough? |
Disability coverage usually provides only a reduced monthly benefit of no more than 70% of your pre-disability income; and this benefit may only continue for a limited time.
However, Critical Illness Insurance can pay you a lump-sum benefit upon diagnosis of a covered critical illness. The money can: help you take the time you need to recover fully; contribute toward getting the best and latest treatment, anywhere in the world; assist you to make any lifestyle or career change you wish; and help you spend more time with your family.
| 4. | Why are only these three illnesses covered? |
The three covered critical illnesses are the most common, occurring across all ages in Canada.
| 5. | Does a critical illness need to be terminal to collect? |
No. If you are diagnosed with a critical illness as described in the Certificate and survive, you still collect.
| 6. | What if the critical illness is terminal? |
Survivor's Financial Plan will still pay a benefit in the event of death from any cause, except suicide within two years of issue.
| 7. | Is breast cancer covered? |
If the tumour is malignant and does not occur within the first 90 days of coverage, it can be covered. Read the Survivor's Financial Plan Terms and Conditions for more information.
| 8. | Is prostate cancer covered? |
Yes, including Stage A prostate cancer, provided it does not occur within the first 90 days of coverage. Read the Survivor's Financial Plan Terms and Conditions for more information.
| 9. | My premiums are low now, but will they go up? |
Your premiums are group premiums, designed to make this coverage affordable for customers. Your premiums are fixed for 10 years, regardless of changes to your age and health. Premiums during the 10 years can go up only if they go up for all customers insured under the group policy. Your coverage is renewable after 10 years, at which time premiums will increase.
| 10. | How will I know if I'm eligible to make a claim? |
If you are diagnosed and certified in writing with a critical illness as described in the Certificate, by a physician licensed to practise medicine in Canada, you are eligible to file a claim. Full information on filing a claim will be included with your Certificate of Insurance. The insurer may require additional information. Certain restrictions apply.
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