Guaranteed Life Insurance
Guaranteed acceptance
Funeral expenses coverage
Effortless application
Key Features Setting Our
Plan Apart
Guaranteed acceptance
Instant approval up to $50,000 for all Canadian residents ages 18 to 70, and up to $25,000 for ages 71-80.
No medical exams
There are no obstacles between you and the protection you need. In fact, your health has no effect on your rates or eligibility for this plan.
Funeral expenses coverage
Your loved ones can use the benefit to cover funeral expenses, final bills, or however they see fit.
Permanent protection
This coverage does not stop when you need it most, with your plan remaining in force for a lifetime.
Fixed rates for a lifetime
Your rates are guaranteed to stay level, ensuring there are no surprise increases in the future.
What Our Clients Say
What is
?
Excelsior is a guaranteed life insurance plan that provides lifetime coverage. When you pass away, your beneficiaries receive a lump sum tax-free payout. The name "guaranteed" means your acceptance is guaranteed regardless of your health or medical history*.
Why do I need it?
In Canada, final expenses can average nearly $10,000, potentially placing a significant financial strain on your family. The payout from this plan can alleviate that burden by covering funeral costs, ensuring your loved ones remain debt-free during such challenging times.
If your partner depends on your Old Age Security and Canada Pension Plans payments for their everyday expenses, the plan's benefit can provide an alternative source of income.
The proceeds from the policy can contribute to your estate, providing additional assets to be distributed according to your wishes. This can help ensure your heirs receive an inheritance, even if other assets are limited.
The death benefit can also be used to pay off debts that are left behind, such as credit card debts, personal loans, or outstanding mortgage payments. This can help ensure that these financial obligations do not fall on your family.
Applying is a Breeze: Just Count 1-2-3
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Apply Online
Apply for a quote on our website in under a minute!
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Connect with Compassion
Connect with our licensed advisor who will tailor your plan by discussing your needs and budget. Receive a competitive quote along with a customized coverage recommendation just for you!
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Seal the Deal with Ease
If everything sounds good to you, let's wrap it up! Complete the application process effortlessly over the phone. Soon after, your policy will zoom its way to your email, and it can also be mailed to you upon request. Voila, you're covered!
Top questions Canadians ask about Guaranteed Life Insurance
What is Guaranteed Life Insurance and how does it differ from other types of life insurance?
As the name implies acceptance for this type of life insurance is guaranteed, as long as you meet the minimum eligibility criteria.
In contrast to other types of life insurance which require at least a health questionnaire and in some cases a medical exam, Guaranteed Life Insurance foregoes these requirements.
In case of our Guaranteed Life Insurance plan - Excelsior, there is only one qualifying health question: "Have you been diagnosed with a life expectancy of 24 months or less, or are you in the hospital or terminally ill?"
Who is eligible for Guaranteed Life Insurance?
In case of our Excelsior plan there are only 3 eligibility requirements:
- Be between the ages of 18-80
- Be a Canadian citizen or permanent Canadian resident for at least 6 months.
- Answer "No" to a single qualifying health question:
"Have you been diagnosed with a life expectancy of 24 months or less, or are you in the hospital or terminally ill?"
How much coverage is available under Guaranteed Life Insurance?
Our Excelsior Plan offers:
$10,000 - $50,000 for ages 18-70
$5,000 - $25,000 for ages 71-80
In case of accidental death, your benefit triples until you reach the age of 71. After that, the benefit remains the same regardless of the cause of death.
What factors affect the premiums for Guaranteed Life Insurance?
With our Excelsior Plan your rate is not affected by your health or medical history and depend solely on:
Coverage
Age
Gender
Smoking Status
Once the policy is in force can the rate increase?
No. For our Excelsior Plan the rate is fixed and is guaranteed to stay level.
How long does the coverage last?
Our Excelsior Plan provides lifetime coverage as long as the premiums are paid.
Can I get my premiums back if I cancel my policy?
Our plan has a 10-day review period during which you can cancel and receive a full refund. After this review period, any premiums paid are not refundable, as with any other types of insurance, such as auto or home.