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IWME - INCOME INSURANCE

Humania Assurance’s income insurance without medical exam provides you with an income in the event that you become disabled and are unable to support yourself.

AMOUNT OF COVERAGE

Minimum $400, maximum $2,500 per month.

WAITING PERIOD

90 days.

BENEFIT PERIOD

24 months.

AGE LIMIT UPON PURCHASE

Available to persons 18 to 55 years old (inclusive).

TYPE OF CONTRACT

Term 10 or 20 years depending on the option chosen by the Policyholder.

RENEWAL

Guaranteed to age 65.

PREMIUMS

This policy has premiums that change every 10 or 20 years, depending on the option selected by the Policyholder. The premium is not guaranteed, and the Insurer may revise the premium at any time, based on the morbidity incidence rate for insureds who have contracts with similar characteristics.

COVERED DISABILITIES

Any total disability resulting from an accident or illness.

RETROACTIVE BENEFIT

6 months.

WAIVER OF PREMIUM

3 months.

COORDINATION

100 %.

INTEGRATION

$1,200 non-integrated.

BENEFICIARY

Policyholder.

PRE-EXISTING CONDITION

Pre-existing condition of 12 or 24 months applies (varies according to the policy purchased by the Person insured).

PREMIUM REFUND RIDER (OPTIONAL) 

After 20 years without claim, receive a premium refund of up to 75% of total premiums paid. Description of the rider

EXCLUSIONS AND RESTRICTIONS

Please refer to the Disability Insurance (Income) sample policy for full details.

For full details, please refer to the sample policy. In the event of any discrepancy between the policy and this document, the policy shallprevail.

Check online right away to see if you are eligible!

For more information regarding our Insurance Without Medical Exam, speak to your Broker (Financial Security Advisor), or send us your questions by email at info@humania.ca or else call us at 1-800-773-8404, Monday to Friday between 8 a.m. and 5 p.m. (Eastern time).

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The first one thousand two hundred dollars ($1,200) of monthly benefit payable under all coverages of Humania Assurance – Insurance Without Medical Exam accident and sickness disability insurance taken together is neither integrated with governement plans nor coordinated with other disability insurance protection the person insured may have.

All monthly disability benefit over one thousand two hundred dollars ($1,200) becomes fully integrated and coordinated. Disability benefits are then determined base on the person insured’s average monthly earned income, up to the insured maximum indicated in the schedule of benefits.

Disability benefits can be coordinated when you have multiple disability insurance contracts with either the insurer or other insurers. When disability benefits payable under the policy become coordinate, the monthly benefit payable is reduced so that the amount of disability benefits payable under this policy and any other insurance does not exceed 100% the average monthly income earned by the person insured.

After three (3) months of continuous disability, the insurer will waive the subsequent premiums for as long as the person insured is eligible to receive total disability benefits.

If the person insured receives total disability benefits for six (6) consecutive months, the insurer will pay a lump sum benefit equal to the total disability benefits that would have been paid during the waiting period as though the waiting period did not apply.

If you are working: you must be unable to perform each and every important duty of your occupation. You must not hold other employment and you must be under the continuous and appropriate treatment and care of a physician.

If you are unemployed: you must be unable to perform at least one of these activities of daily living by yourself: eating, dressing, transferring, bathing, toileting or be continent. You must also be under the continuous and appropriate treatment and care of a physician.

Period, expressed in number of days, during which no benefit is payable. The waiting period begins on the date of the first medical consultation related to the disability after the onset of that disability.

No benefit for total disability will be payable if the total disability results from or is directly or indirectly related to a pre-existing condition and the person insured becomes totally disabled during the 12 or 24-month period following the effective date of this coverage. In such instance, the Insurer’s liability will be limited to a refund of the premiums paid and this policy will terminate with no further value.

A pre-existing condition is an injury, a sickness or a condition that manifests during the 12 or 24 months prior to the effective date of the policy. For a complete definition, please refer to the specimen policy document.