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IWME – Critical Illness Insurance

Humania Assurance’s critical illness insurance without medical exam pays a lump sum of up to $100,000 upon diagnosis of one of the covered diseases. Following the survival period, this benefit is paid directly to the Policyholder to be used and spent by them.

AMOUNT OF COVERAGE

Minimum $5,000, maximum $100,000.

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.

PREMIUM

This policy has premiums that change every 10 or 20 years, depending on the option selected by the policyholder. The premium is guaranteed for the selected period. At the end of the 10 or 20-year period, depending on the option selected, the premium will be adjusted to reflect the insured’s attained age, the insured’s original risk class and the premium rates applicable at that date. The new premium will also be guaranteed for a further period of 10 or 20 years.

COVERED ILLNESSES

  • Stroke
  • Cancer
  • Coronary surgery
  • Heart attack (myocardial infarction)
Access to list of Covered Critical Illnesses and Their Definition.

Please refer to the Critical Illness Insurance sample policy for the exact definition of the payable conditions.

SURVIVAL PERIOD

30 days

MORATORIUM PERIOD

90 days

PREMIUM REFUND UPON DEATH

Yes

BENEFICIARY

The Policyholder, unless indicated otherwise in the application.

PRE-EXISTING CONDITION

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

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 Critical Illness Insurance 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 shall prevail.

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).

Immediate coverageSee details
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No benefit for a covered critical illness will be payable during the 12 or 24-month period following the effective date of this coverage if the critical illness results from or is directly or indirectly related to a pre-existing condition and is diagnosed 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 the 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.

In case of death of the person insured, if no allowance of critical illness is payable, the insurer pays a benefit equal to the sum, without interest, of premiums paid for the critical illness coverage as well as administrative expenses paid during the period of coverage.

Period during which the person insured must survive after the date on which a covered illness is diagnosed, in order for the benefit amount to be payable.

No benefit is payable for any cancer when the earliest of the following dates occurs within ninety (90) days of the effective date of this coverage:

  • the date diagnosed of any cancer, whether covered or excluded; or
  • the date on which any early signs or symptoms for any cancer, whether covered or excluded, appear; or
  • the date of medical consultations and tests leading to the diagnosis of any cancer, whether covered or excluded.